Technical Analysis
Date: 02.11.2022
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 |
|---|---|---|---|---|---|
| GBPUSD | Following a prior retracement from the resistance level, GBPUSD was traded at a lower price. The pair may, however, be traded higher as a result of a technical correction, according to MACD, which showed declining bearish trend. | R1 R2 | 1.1635 1.1835 | S1 S2 | 1.1370 1.1165 |
| EURUSD | While currently attempting to overcome the resistance level, EURUSD prices increased. If the pair successfully breaks through the resistance level, the MACD, which showed decreasing bearish trend, suggests that its gains may be extended. | R1 R2 | 0.9905 0.9990 | S1 S2 | 0.9810 0.9730 |
| USDJPY | Following a previous breakout below the prior support level, USDJPY was traded lower. The MACD, which showed a growing bearish trend, suggests that the pair will continue to lose ground. | R1 R2 | 147.65 150.25 | S1 S2 | 144.80 142.20 |
| AUDUSD | AUDUSD was traded higher following prior rebound from the support level. MACD which illustrated decreasing bearish trend suggest the pair to extend its gains. | R1 R2 | 0.6470 0.6590 | S1 S2 | 0.6370 0.6265 |
| NZDUSD | Following a previous breakout of the prior resistance level, the NZDUSD was traded higher. The MACD, which showed a growing bullish trend, suggests that the pair will continue to gain. | R1 R2 | 0.5920 0.6015 | R1 R2 | 0.5805 0.5725 |
| USDCAD | USDCAD was traded higher while currently testing the resistance level. MACD which illustrated decreasing bearish trend suggest the pair to extend its gains if successfully breakout the resistance level. | R1 R2 | 1.3635 1.3820 | R1 R2 | 1.3455 1.3320 |
| USDCHF | Following a prior retracement from the resistance level, USDCHF was traded lower. The MACD, which showed declining bullish trend, suggests that the pair will continue to lose ground. | R1 R2 | 1.0005 1.0105 | S1 S2 | 0.9930 0.9860 |
| Crude Oil | Crude Oil price was traded higher following prior breakout above the previous resistance level. MACD which illustrated increasing bullish trend suggest the commodity to extend its gains. | R1 R2 | 92.50 95.45 | S1 S2 | 89.00 86.05 |
| XAUUSD | Following a prior recovery from the support level, the price of Gold was traded higher. The MACD, which showed a growing bullish trend, suggests that the commodity will continue to gain ground. | R1 R2 | 1655.60 1674.70 | S1 S2 | 1633.35 1616.90 |
| Instrument | Description ( H4 Timeframe ) | R | Resistance levels | S | Support |
⊗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.