Technical Analysis
Date: 07.10.2022
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. MACD, which showed increasing bearish trend, suggests that the pair will extend its losses toward the support level. | R1 R2 | 1.1455 1.1730 | S1 S2 | 1.1065 1.0890 |
| EURUSD | Following a previous retracement from the resistance level, the EURUSD traded lower. MACD, which showed increasing bearish trend, suggests that the pair will extend its losses toward the support level. | R1 R2 | 0.9915 1.0145 | S1 S2 | 0.9740 0.9550 |
| USDJPY | The USDJPY has been trading higher and is currently testing the resistance level. MACD, which showed diminishing bearish trend, suggests that the pair will extend its gains after the breakout. | R1 R2 | 145.35 152.80 | S1 S2 | 140.75 136.55 |
| AUDUSD | The AUDUSD has been trading lower and is currently testing the support level. The MACD, which showed increasing bearish trend, suggests that the pair will extend its losses after the breakout. | R1 R2 | 0.6515 0.6645 | S1 S2 | 0.6385 0.6185 |
| NZDUSD | NZDUSD is currently trading near the support level. The MACD, which showed increasing bearish trend, suggests that the pair will extend its losses after the breakout. | R1 R2 | 0.5850 0.6030 | R1 R2 | 0.5590 0.5465 |
| USDCAD | The USDCAD is currently trading higher while testing the resistance level. MACD, which showed increasing bullish trend, suggests that the pair will extend its gains after the breakout. | R1 R2 | 1.3820 1.3970 | R1 R2 | 1.3500 1.3315 |
| USDCHF | Following the previous breakout above the previous resistance level, the USDCHF was traded higher. The MACD, which showed increasing bullish trend, suggests that the pair will extend its gains toward the resistance level. | R1 R2 | 0.9965 1.0035 | S1 S2 | 0.9860 0.9755 |
| Crude Oil | The price of Crude Oil has risen and is currently testing the resistance level. However, the MACD, which showed diminishing bullish trend, suggests that the commodity will trade lower as a technical correction. | R1 R2 | 89.20 92.60 | S1 S2 | 86.35 81.95 |
| XAUUSD | The Gold price fell after a previous retracement from the resistance level. However, the MACD, which showed diminishing bearish trend, suggests that the commodity will trade higher as a technical correction. | R1 R2 | 1725.75 1761.60 | S1 S2 | 1700.60 1676.30 |
| 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.