Technical Analysis
Date: 03.06.2022
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 recent breakout over the previous resistance level, the GBPUSD was traded higher. The growing bullish trend of the MACD suggests that the pair will extend its gains. | R1 R2 | 1.2615 1.2710 | S1 S2 | 1.2535 1.2430 |
| EURUSD | The EURUSD has been trading higher as it approaches the resistance level. If the pair successfully breaks through the resistance level, the MACD, which indicated increased bullish momentum, suggests the pair will continue its gains. | R1 R2 | 1.0770 1.0850 | S1 S2 | 1.0685 1.0605 |
| USDJPY | The USDJPY has been trading higher as it approaches the barrier level. However, the MACD indicator, which shows growing bullish trend, suggests that the pair will be traded lower as a technical correction. | R1 R2 | 129.95 130.95 | S1 S2 | 129.05 128.00 |
| AUDUSD | Following a recent breakout over the previous resistance level, the AUDUSD was traded higher. However, the MACD indicator, which showed a decrease in bullish momentum, suggests that the pair will be traded down as a technical correction. | R1 R2 | 0.7300 0.7365 | R1 R2 | 0.7235 0.7155 |
| NZDUSD | Following a recent breakout over the previous resistance level, the NZDUSD was traded higher. However, the MACD indicator, which showed a decrease in bullish momentum, suggests that the pair will be traded down as a technical correction. | R1 R2 | 0.6595 0.6675 | R1 R2 | 0.6500 0.6425 |
| USDCAD | Following a recent breakthrough below the previous support level, the USDCAD was traded lower. The growing bearish trend of the MACD suggests that the pair will continue to lose ground. | R1 R2 | 1.2635 1.2765 | S1 S2 | 1.2520 1.2415 |
| USDCHF | Following a recent breakthrough below the previous support level, the USDCHF was traded lower. However, the falling bearish trend of the MACD suggests that the pair should be traded upward as a technical correction. | R1 R2 | 0.9595 0.9675 | S1 S2 | 0.9520 0.9455 |
| Crude Oil | Following a recent breakout over the previous resistance level, the price of Crude oil was traded higher. However, the falling bullish trend of the MACD suggests that the commodity will be traded lower as a technical correction. | R1 R2 | 119.00 122.00 | S1 S2 | 115.95 113.10 |
| XAUUSD | Following a recent breakout over the previous resistance level, the Gold price has been trading higher. However, the falling bullish trend of the MACD suggests that the commodity will be traded lower as a technical correction. | R1 R2 | 1878.85 1901.20 | S1 S2 | 1855.05 1833.15 |
| 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.