Technical Analysis
Date:06.09.2021
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.
| Instruments | Description ( H4 Timeframe ) | R | Resistance levels | S | Support Levels |
|---|---|---|---|---|---|
| GBPUSD | Following a previous pullback from the resistance level of 1.3885, the pound-dollar moved lower. The MACD indicator, which shows a weakening bullish trend signal, suggests that the pair will continue its pullback from the resistance level of 1.3885 in the near term. | R1 R2 | 1.3885 1.3990 | S1 S2 | 1.3760 1.3600 |
| EURUSD | Following a previous pullback from the resistance level of 1.1880, the EURUSD moved lower on the day. The development of a death cross on the MACD, which indicates a bearish trend signal, suggests that the pair will continue its losses towards the support level of 1.1830 in the near term. | R1 R2 | 1.1880 1.1950 | S1 S2 | 1.1830 1.1765 |
| USDJPY | Following the recent recovery from the support level of 109.60, the USDJPY has been trading in a sideways pattern. However, the MACD, which shows a decreasing bearish trend signal, suggests that the pair will continue its recovery in the near term, approaching the resistance level 110.15, which is a key resistance level. | R1 R2 | 110.15 110.75 | S1 S2 | 109.60 109.15 |
| AUDUSD | The Australian dollar fell against the US dollar, which is presently challenging around the support level of 0.7415. After breaking below the support level, the MACD indicator, which shows a decreasing bullish trend signal, suggests that the pair will continue its losses. | R1 R2 | 0.7485 0.7545 | S1 S2 | 0.7415 0.7330 |
| NZDUSD | Following a previous pullback from the resistance level of 0.7145, the New Zealand dollar fell against the US dollar. As the MACD shows a decreasing bullish trend signal, the pair is expected to continue its retracement towards the support level of 0.7075 in the near term. | R1 R2 | 0.7145 0.7225 | S1 S2 | 0.7075 0.6990 |
| USDCAD | Following a previous recovery from its low point, the USDCAD was trading higher. The MACD indicator, which shows a decreasing bearish trend signal, suggests that the pair will continue its recovery towards the resistance level of 1.2585 in the near future. | R1 R2 | 1.2585 1.2675 | S1 S2 | 1.2440 1.2310 |
| USDCHF | The USDCHF is still trading in a sideways pattern. In contrast, the MACD indicator, which shows a decreasing bearish trend signal, suggests that the pair will trade higher, approaching the resistance level of 0.9200. | R1 R2 | 0.9200 0.9245 | S1 S2 | 0.9100 0.9025 |
| Crude Oil | Crude oil prices have been trading down as they challenge the support level of 68.35. The moving average convergence divergence (MACD) indicator, which indicates a bearish trend signal, suggests that the commodity would extend its losses if it falls below the support level. | R1 R2 | 71.00 74.60 | S1 S2 | 68.35 65.35 |
| XAUUSD | The gold price has been trading upward as of late, and it is now challenging the resistance level of 1831.85. After breaking over the resistance level of 1831.85, the MACD indicator, which indicates a bullish trend signal, suggests that the commodity will continue to gain ground. | R1 R2 | 1831.85 1866.85 | S1 S2 | 1792.35 1760.35 |
| Instruments | 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.