Technical Analysis
Date:07.12.2021
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 | GBPUSD has been trading higher and is presently seeking resistance around 1.3315. MACD, which demonstrates bullish trend by forming a golden cross, suggests that the pair will continue its gains after breaking over the barrier level. | R1 R2 | 1.3315 1.3430 | S1 S2 | 1.3195 1.3055 |
EURUSD | EURUSD is trading in a sideways trend and is now targeting the 1.1275 support level. However, MACD's declining bearish trend signal suggests that the pair should be traded higher in the near term, targeting the resistance level 1.1375. | R1 R2 | 1.1375 1.1455 | S1 S2 | 1.1275 1.1185 |
USDJPY | The USDJPY strengthened after a recent breach over the previous barrier level of 114.60. The MACD indicator, which indicates a bullish trend, suggests that the pair will continue its advances approaching the resistance of 114.60. | R1 R2 | 114.60 115.85 | S1 S2 | 113.20 112.00 |
AUDUSD | The AUDUSD moved higher after a previous bounce from the 0.7005 support level. The MACD indicator, which displays a bullish trend signal in the shape of a golden cross, suggests that the pair will continue its comeback towards the resistance level 0.7105. | R1 R2 | 0.7105 0.7190 | S1 S2 | 0.7005 0.6925 |
NZDUSD | NZDUSD has been trading flat and is presently challenging the 0.6725 support level. However, MACD signals indicating declining bearish trend and the creation of a golden cross imply that the pair should be traded upward as a technical correction towards the resistance level 0.6815. | R1 R2 | 0.6815 0.6905 | S1 S2 | 0.6725 0.6630 |
USDCAD | USDCAD is trading in a sideways trend and is now probing the 1.2735 support level. The MACD indicator, which indicates a bearish trend, suggests that the pair may continue its losses if it falls below the support of 1.2735. | R1 R2 | 1.2865 1.2955 | R1 R2 | 1.2735 1.2615 |
USDCHF | USDCHF moved down after a retreat from its previous high. MACD indicators that indicate dwindling bullish trend imply that the pair may prolong its pullback in the immediate run approaching the support level 0.7225. | R1 R2 | 0.9300 0.9360 | R1 R2 | 0.9225 0.9145 |
Crude Oil | The price of crude oil increased after a previous breach over the previous resistance level of 69.15. MACD indicators, which indicate a persistent bullish trend signal, indicate that the commodity will continue its gains towards the barrier of 72.10. | R1 R2 | 72.10 75.25 | S1 S2 | 69.20 65.25 |
XAUUSD | Gold prices remained stable at the 1781.35 barrier level. However, MACD signals indicating a waning bullish trend imply that the commodity should be traded down below the support level 1748.55. | 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.