Technical Analysis
Date: 08.07.2022
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. MACD, which showed growing bullish trend, suggests that the pair will extend its gains. | R1 R2 | 1.2115 1.2190 | S1 S2 | 1.2010 1.1870 |
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 | 1.0235 1.0315 | S1 S2 | 1.0145 1.0040 |
USDJPY | The USDJPY has been trading downward and is presently challenging the support level. If the pair successfully breaks through the support level, the MACD, which shows declining bullish trend, suggests that it will continue its losses. | R1 R2 | 136.65 137.35 | S1 S2 | 135.55 134.25 |
AUDUSD | The AUDUSD was trading lower after a previous retreat from the resistance level. The declining bullish trend indicated by the MACD suggests that the pair's losses will be extended. | R1 R2 | 0.6850 0.6930 | S1 S2 | 0.6770 0.6665 |
NZDUSD | NZDUSD was trading higher after breaking out over the previous barrier level. However, the MACD, which showed declining bullish trend, suggests that the pair should be traded down as a technical correction. | R1 R2 | 0.6235 0.6295 | R1 R2 | 0.6145 0.6060 |
USDCAD | The USDCAD was trading higher after previously rebounding from the support level. MACD, which showed diminishing bearish strength, suggests that the pair will prolong its advances. | R1 R2 | 1.3035 1.3095 | R1 R2 | 1.2940 1.2875 |
USDCHF | The USDCHF has been trading higher and is presently challenging the barrier level. However, MACD, which shows declining bullish trend, suggests that the pair will trade down as a technical correction. | R1 R2 | 0.9740 0.9820 | S1 S2 | 0.9675 0.9595 |
Crude Oil | The price of Crude Oil fell after breaking below the last support level. However, MACD, which shows growing bullish trend, suggests that the commodity will trade higher as a technical corrective. | R1 R2 | 103.30 107.60 | S1 S2 | 97.70 93.55 |
XAUUSD | The Gold price increased after breaking over the previous resistance level. MACD, which showed diminishing bearish trend, suggests that the commodity will extend its rise. | R1 R2 | 1753.25 1771.10 | S1 S2 | 1737.30 1718.90 |
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.