Technical Analysis
Date: 03.08.2022
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 | GBPUSD is currently trading higher while testing the resistance level. The decreasing bearish trend indicated by the MACD suggests that the pair will extend its gains if it successfully breaks through the resistance level. | R1 R2 | 1.2170 1.2320 | S1 S2 | 1.2030 1.1870 |
| EURUSD | The EURUSD was trading higher after previously rebounding from the support level. MACD, which showed decreasing bearish trend, suggests that the pair will extend its gains. | R1 R2 | 1.0230 1.0315 | S1 S2 | 1.0160 1.0075 |
| USDJPY | The USDJPY was trading lower after breaking below the previous support level. However, MACD, which shows increasing bullish trend, suggests that the pair will trade higher as a technical correction. | R1 R2 | 133.10 134.50 | S1 S2 | 131.65 130.40 |
| AUDUSD | The AUDUSD has been trading higher and is currently testing the resistance level. The decreasing bearish trend indicated by the MACD suggests that the pair will extend its gains if it successfully breaks through the resistance level. | R1 R2 | 0.6930 0.7005 | S1 S2 | 0.6850 0.6770 |
| NZDUSD | NZDUSD was trading higher after breaking out above the previous resistance level. MACD, which showed decreasing bearish trend, suggests that the pair will extend its gains. | R1 R2 | 0.6295 0.6350 | R1 R2 | 0.6235 0.6185 |
| USDCAD | The USDCAD was trading higher after breaking out above the previous resistance level. However, the MACD, which showed decreasing bullish trend, suggests that the pair should be traded lower as a technical correction. | R1 R2 | 1.2935 1.3030 | R1 R2 | 1.2825 1.2700 |
| USDCHF | Following a previous retracement from the resistance level, the USDCHF was traded lower. The decreasing bullish trend indicated by the MACD suggests that the pair's losses will be extended. | R1 R2 | 0.9595 0.9675 | S1 S2 | 0.9520 0.9455 |
| Crude Oil | The price of Crude Oil has fallen and is currently testing a support level. However, MACD, which shows decreasing bearish trend, suggests that the commodity will trade higher as a technical correction. | R1 R2 | 97.70 100.45 | S1 S2 | 93.30 90.05 |
| XAUUSD | The Gold Price increased after breaking above the previous resistance level. MACD, which showed decreasing bearish trend, suggests that the commodity will extend its gains. | R1 R2 | 1777.70 1787.50 | S1 S2 | 1766.55 1753.25 |
| 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.