Technical Analysis
Date:02.11.2021
Technical Analysis is a trading discipline that is used to analyze assets and find trading opportunities by examining statistical patterns derived from trading activity, such as price movement and volume. In order to navigate the gap between intrinsic value and market price, traders and investors you may benefit from FXTradium’s daily Analysis.
| Instrument | Description ( H4 Timeframe ) | R | Resistance levels | S | Support Levels |
|---|---|---|---|---|---|
| GBPUSD | Following an earlier bounce from the support level of 1779.95, the gold price has been trading upward. The commodity is expected to prolong its comeback towards the resistance level of 1808.30, according to the MACD, which shows a decreasing bearish trend signal. | R1 R2 | 1.3735 1.3815 | S1 S2 | 1.3650 1.3550 |
| EURUSD | The EURUSDexchange rate has been trading upward, and it is presently probing around the resistance level of 1.1615. Because of the appearance of a golden cross on the MACD, which indicates a shrinking negative momentum signal, it is likely that the pair will continue its gains after breaking above the barrier level. | R1 R2 | 1.1615 1.1680 | S1 S2 | 1.1535 1.1455 |
| USDJPY | Following the recent retreat from the resistance level of 114.60, the USDJPY has been trading in a sideways pattern. Nevertheless, the MACD indicator, which shows a decreasing bullish trend signal, suggests that the pair may prolong its retracement in the immediate run towards the support level 113.00. | R1 R2 | 114.60 115.85 | S1 S2 | 113.20 112.00 |
| AUDUSD | The Australian dollar continues to trade flat in a sideways pattern. However, the MACD indicator, which indicates a bearish bias signal, suggests that the pair will be traded lower, targeting the support level of 0.7455, in the near future. | R1 R2 | 0.7550 0.7660 | S1 S2 | 0.7455 0.7385 |
| NZDUSD | The New Zealand dollar continues to trade flat in a sideways pattern, with the pair now probing around the support level of 0.7155. However, the MACD indicator, which indicates a bearish bias signal, suggests that the pair would trade lower if it falls below the support level below the resistance level. | R1 R2 | 0.7230 0.7300 | S1 S2 | 0.7155 0.7080 |
| USDCAD | USDCAD is now trading in a sideways pattern around the resistance level of 1.2410, with the pair trading in a sideways channel. However, the MACD indicator, which indicates a bullish bias signal, suggests that the pair would move higher after breaking through the barrier level. | R1 R2 | 1.2410 1.2500 | S1 S2 | 1.2295 1.2200 |
| USDCHF | In the wake of a previous recovery from the support level of 0.9060, the USDCHF moved higher. Indicators such as the MACD, which show a decreasing bearish trend signal, predict that the pair will prolong its comeback towards the resistance level of 0.9140. | R1 R2 | 0.9140 0.9215 | S1 S2 | 0.9060 0.8990 |
| Crude Oil | Crude oil prices have been trading higher as they challenge the resistance level of 84.75. The moving average convergence divergence (MACD) indicator, which indicates an ongoing bullish trend signal, suggests that the commodity will extend its gains if it breaks above the barrier level. | R1 R2 | 84.75 88.40 | S1 S2 | 81.20 79.10 |
| XAUUSD | Following an earlier bounce from the support level of 1779.95, the gold price has been trading upward. The creation of a golden cross on the MACD, which indicates a bullish trend signal, suggests that the commodity will continue its comeback towards the resistance level of 1808.30 in the near future. | R1 R2 | 1808.30 1831.50 | S1 S2 | 1779.95 1748.55 |
| Instrument | Description ( H4 Timeframe ) | R | Resistance levels | S | Support Levels |
⊗Please keep in mind that these are just expectations based on the research and investigations of the FXTradium Technical analysis team, and that the final decision on any specific trade will be made by the client.