Technical Analysis
Date: 05.08.2022
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 was trading lower after retracing from the resistance level. However, the MACD, which showed decreasing bearish trend, suggests that the pair should be traded higher as a technical correction. | R1 R2 | 1.2170 1.2270 | S1 S2 | 1.2070 1.1995 |
EURUSD | The EURUSD 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 | 1.0315 1.0385 | S1 S2 | 1.0230 1.0160 |
USDJPY | The USDJPY has been trading higher and is currently testing the resistance level. MACD, which showed increasing bullish trend, suggests that the pair will extend its gains if it successfully breaks through the resistance level. | R1 R2 | 133.40 134.90 | S1 S2 | 131.65 129.35 |
AUDUSD | AUDUSD was traded higher following prior breakout above the previous resistance level. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains. | R1 R2 | 0.7005 0.7075 | S1 S2 | 0.6930 0.6850 |
NZDUSD | NZDUSD was trading lower after breaking below the previous support level. The decreasing bullish trend indicated by the MACD suggests that the pair's losses will be extended. | 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. The decreasing bearish trend in the MACD suggests that the pair will trade higher as a technical correction. | R1 R2 | 1.2935 1.3030 | R1 R2 | 1.2825 1.2700 |
USDCHF | The USDCHF was trading lower after breaking below the previous support level. However, the MACD, which showed decreasing bearish trend, suggests that the pair should be traded higher as a technical correction. | R1 R2 | 0.9595 0.9675 | S1 S2 | 0.9520 0.9455 |
Crude Oil | The price of Crude Oil fell after breaking below the previous support level. However, MACD, which shows decreasing bearish trend, suggests that the commodity will trade higher as a technical correction. | R1 R2 | 90.05 93.25 | S1 S2 | 86.15 83.00 |
XAUUSD | The Gold Price increased after breaking above the previous resistance level. However, the MACD, which showed decreasing bullish trend, suggests that the commodity will trade lower as a technical correction. | R1 R2 | 1807.65 1836.10 | S1 S2 | 778.80 1756.95 |
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.