Technical Analysis
Date: 03.02.2022
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 Levels |
---|---|---|---|---|---|
GBPUSD | GBPUSD has been trading higher and is presently challenging the 1.3595 resistance level. However, MACD's declining bullish momentum suggests that the pair may trade lower in the immediate term as a technical correction. | R1 R2 | 1.3595 1.3715 | S1 S2 | 1.3450 1.3340 |
EURUSD | EURUSD surged higher after a previous comeback from the 1.1200 support level. However, MACD's declining bullish trend suggests that the pair may trade lower in the immediate term as a technical correction. | R1 R2 | 1.1380 1.1470 | S1 S2 | 1.1200 1.1120 |
USDJPY | USDJPY moved down after a previous fall below the 114.95 support line. However, MACD's declining bearish trend suggests that the pair may trade higher in the near term as a technical correction. | R1 R2 | 114.95 115.65 | S1 S2 | 113.65 112.85 |
AUDUSD | The AUDUSD has been trading downward and is presently approaching the 0.7125 support level. The MACD indicator, which indicated dwindling bullish trend, suggests that the pair may extend its losses after a successful breach below the support level. | R1 R2 | 0.7205 0.7270 | S1 S2 | 0.7125 0.7065 |
NZDUSD | NZDUSD moved higher after a previous comeback from the 0.6550 support level. MACD, which indicated dwindling bearish trend, suggests the pair may continue its advances into the 0.6710 resistance level. | R1 R2 | 0.6710 0.6865 | S1 S2 | 0.6550 0.6430 |
USDCAD | USDCAD has been trading downward and is presently trading at the 1.2625 support level. MACD's declining bullish trend suggests that the pair will trade lower in the immediate term as a technical correction. | R1 R2 | 1.2825 1.2950 | S1 S2 | 1.2625 1.2475 |
USDCHF | USDCHF has been trading downward and is presently approaching the 0.9180 support level. The MACD indicator, which indicated dwindling bullish trend, suggests that the pair may extend its losses after a successful breach below the support level. | R1 R2 | 0.9270 0.9345 | S1 S2 | 0.9180 0.9095 |
Crude Oil | Crude oil prices fell after an earlier retreat from the 88.60 barrier level. MACD's growing bearish trend suggests the commodity may continue its losses near the 86.40 support level. | R1 R2 | 88.60 91.25 | S1 S2 | 86.40 83.15 |
XAUUSD | Gold prices have been trading higher as they approach the resistance level at 1811.35. The MACD indicator, which indicated growing bullish trend, suggests the commodity will extend its gains with a successful breakthrough over the resistance level. | R1 R2 | 1811.35 1828.00 | S1 S2 | 1786.30 1762.20 |
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.