Technical Analysis
Date:02.12.2021
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 | GBPUSD is trading flat against the US dollar and is now targeting the resistance level of 1.3315. However, MACD indicators that indicate positive momentum predict that the pair may continue its gains after a breach over the resistance of 1.3315. | R1 R2 | 1.3315 1.3430 | S1 S2 | 1.3195 1.3055 |
| EURUSD | EURUSD is continuing to trade in a sideways pattern. However, MACD signals indicating diminishing bullish trend and the beginning of the death cross formation imply that the pair will trade down in the near term approaching the support level 1.1275. | R1 R2 | 1.1375 1.1455 | S1 S2 | 1.1275 1.1170 |
| USDJPY | USDJPY has been trading higher and is presently hitting resistance around 113.20. MACD signals indicating a bullish trend together with the beginning development of a golden cross imply that the pair will prolong its comeback after breaking above the resistance level. | R1 R2 | 113.20 114.60 | S1 S2 | 112.00 110.85 |
| AUDUSD | The AUDUSD has been trading downward and is presently approaching the 0.7105 support level. MACD indicators that indicate decreasing bullish trend imply that the pair would continue its losses after a breach below the support level. | R1 R2 | 0.7190 0.7260 | S1 S2 | 0.7105 0.7005 |
| NZDUSD | NZDUSD has been trading downward and is presently approaching the 0.6815 support level. MACD indicators that indicate dwindling bullish trend imply that the pair would continue its losses if it falls below the support line. | R1 R2 | 0.6905 0.6980 | S1 S2 | 0.6815 0.6725 |
| USDCAD | USDCAD has been trading higher and is presently testing resistance around 1.2835. MACD, which displays a bullish trend signal in the shape of a golden cross, suggests that the pair will continue its gains after a break over resistance level 1.2835. | R1 R2 | 1.2835 1.2955 | R1 R2 | 1.2835 1.2955 |
| USDCHF | USDCHF has been trading flat and is presently testing resistance around 0.9225. However, MACD, which displays a bullish trend signal in the shape of a golden cross, suggests that the pair will trade higher after a break over resistance level 0.9225. | R1 R2 | 0.9225 0.9300 | R1 R2 | 0.9145 0.9085 |
| Crude Oil | Crude oil prices have been trading downward and are presently targeting the 65.25 support level. MACD indicators that indicate dwindling bullish trend imply that the commodity would continue its losses after a breach below the support line. | R1 R2 | 68.25 72.10 | S1 S2 | 65.25 61.70 |
| XAUUSD | Gold prices have remained in a sideways trend and are presently challenging the 1781.35 support level. However, MACD signals indicating decreasing bullish trend imply that the commodity may trade down after a breach below the support line 1781.35. | R1 R2 | 1807.85 1831.50 | S1 S2 | 1781.35 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.