Technical Analysis
Date: 04.08.2022
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 breaking through the previous resistance level. MACD, which showed decreasing bullish trend, suggests that the pair will extend its gains. | R1 R2 | 1.0230 1.0315 | S1 S2 | 1.0160 1.0075 |
| USDJPY | Following the previous breakout above the previous resistance level, the USDJPY was traded higher. However, the MACD, which showed decreasing bullish trend, suggests that the pair should be traded lower as a technical correction. | R1 R2 | 134.90 136.65 | S1 S2 | 133.40 131.65 |
| AUDUSD | The AUDUSD 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 | 0.7005 0.7075 | S1 S2 | 0.6930 0.6850 |
| NZDUSD | NZDUSD 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 | 0.6295 0.6350 | R1 R2 | 0.6235 0.6185 |
| USDCAD | USDCAD has been trading lower and is currently testing the support level. However, the MACD, which showed decreasing bearish trend, suggests that the pair should be traded higher as a technical correction. | R1 R2 | 1.2935 1.3030 | R1 R2 | 1.2825 1.2700 |
| USDCHF | The USDCHF has been trading lower and is currently testing the support level. If the pair successfully breaks through the support level, the MACD, which shows decreasing bullish trend, suggests that it will extend its losses. | R1 R2 | 0.9675 0.9735 | S1 S2 | 0.9595 0.9520 |
| 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 | 93.25 97.70 | S1 S2 | 90.05 86.15 |
| XAUUSD | The Gold price increased after breaking above the previous resistance level. MACD, which showed increasing bullish momentum, 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.