Technical Analysis
Date:03.12.2021
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 | The GBPUSD currency pair was trading flat at the resistance level of 1.3315. However, MACD signals indicating fading bullish trend imply that the pair may trade lower in the immediate term, perhaps reaching the support level 1.3195. | R1 R2 | 1.3315 1.3430 | S1 S2 | 1.3195 1.3055 |
| EURUSD | EURUSD has remained in a sideways trend and is now probing around the 1.1275 support level. However, MACD signals indicating a bearish bias and the development of a death cross imply that the pair would extend its losses after a breach below the support level. | R1 R2 | 1.1375 1.1455 | S1 S2 | 1.1275 1.1170 |
| USDJPY | USDJPY was trading flat against the Japanese yen, which is presently challenging the resistance level of 113.20. However, MACD, which displays a bullish trend signal in the shape of a golden cross, indicates that the pair should be traded higher after a break above the resistance level. | R1 R2 | 113.20 114.60 | S1 S2 | 112.00 110.85 |
| AUDUSD | The AUDUSD currency pair has been trading downward after a recent breach below the previous support level of 0.7105. The MACD indicator, which has a bearish bias, suggests that the pair may continue its losses towards the support of 0.7005. | R1 R2 | 0.7105 0.7190 | S1 S2 | 0.7005 0.6925 |
| NZDUSD | NZDUSD remained steady against the US dollar approaching the resistance level of 0.6815. However, MACD signals indicating weakening bullish trend and the development of a death cross warn that the pair may continue its losses into the 0.6725 support level. | R1 R2 | 0.6815 0.6905 | S1 S2 | 0.6725. 0.6630 |
| USDCAD | USDCAD was trading sideways in a channel. However, MACD signals indicating dwindling bullish momentum imply that the pair may trade lower in the immediate term, hitting the support level 1.2765. | R1 R2 | 1.2835 1.2955 | R1 R2 | 1.2765 1.2615 |
| USDCHF | USDCHF is now trading flat in a sideways pattern, testing the resistance of 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 | The price of crude oil has been trading upward and is presently hitting the resistance level of 68.25. MACD indicators that indicate bullish trend predict that the pair may continue its gains after a breach over the resistance level 68.25. | R1 R2 | 68.25 72.10 | S1 S2 | 65.25 61.70 |
| XAUUSD | Gold prices have been trading upward after an earlier recovery from a low point, and are presently probing around the resistance level 1781.35. However, MACD signals indicating diminishing bearish trend and the development of a golden cross predict that the commodity will prolong its comeback after breaking above the barrier level. | R1 R2 | 1781.35 1807.85 | S1 S2 | 1748.55 1725.70 |
| 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.