Technical Analysis
Date: 08.06.2022
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 higher after breaking out over the previous resistance level. However, the MACD, which showed declining bullish trend, suggests that the pair should be traded down as a technical correction. | R1 R2 | 1.2615 1.2710 | S1 S2 | 1.2535 1.2430 |
EURUSD | The EURUSD has been trading downward and is presently challenging the support level. However, the MACD, which showed diminishing bearish trend, suggests that the pair should be traded upward as a technical correction. | R1 R2 | 1.0770 1.0850 | S1 S2 | 1.0685 1.0605 |
USDJPY | The USDJPY has been trading higher and is presently challenging the resistance level. MACD, which showed growing bullish trend, suggests that the pair will extend its gains. | R1 R2 | 133.10 134.25 | S1 S2 | 131.95 130.95 |
AUDUSD | The AUDUSD was trading higher after previously rebounding from the support level. MACD, which showed diminishing bearish trend, suggests that the pair will extend its advances. | R1 R2 | 0.7265 0.7355 | R1 R2 | 0.7165 0.7075 |
NZDUSD | NZDUSD was trading lower after retracing from the barrier level. However, the MACD, which showed diminishing bearish trend, suggests that the pair should be traded upward as a technical correction. | R1 R2 | 0.6500 0.6560 | R1 R2 | 0.6425 0.6350 |
USDCAD | USDCAD has been trading downward and is presently challenging the support level. However, the MACD, which showed diminishing bearish trend, suggests that the pair should be traded upward as a technical correction. | R1 R2 | 1.2635 1.2765 | S1 S2 | 1.2520 1.2415 |
USDCHF | USDCHF was traded higher while currently testing the resistance level. However, MACD which illustrated decreasing bullish momentum suggest the pair to be traded lower as technical correction. | R1 R2 | 0.9820 0.9740 | S1 S2 | 0.9675 0.9595 |
Crude Oil | The price of Crude oil has risen and is presently challenging the resistance level. The falling bearish trend indicated by the MACD suggests that the commodity will continue its gains if it successfully breaks through the resistance level. | R1 R2 | 120.35 125.50 | S1 S2 | 114.30 107.55 |
XAUUSD | The Gold price increased after breaking over the previous resistance level. However, the MACD, which showed declining bullish trend, suggests that the commodity will trade lower as a technical correction. | R1 R2 | 1895.15 1870.00 | S1 S2 | 1846.20 1823.35 |
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.