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Technical Analysis

Date: 08.08.2022

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 has been trading lower and is currently testing the 1.2035 support level. The MACD indicator, which showed diminishing bullish trend, suggests that the pair will extend its losses after successfully breaking below the support level.	R1 R2	1.2175 1.2355	S1 S2	1.2035 1.1900
EURUSD	The EURUSD was trading higher after previously rebounding from the support level of 1.0155. However, MACD, which showed diminishing bullish trend, suggests that the pair will experience a short-term technical correction.	R1 R2	1.0265 1.0370	S1 S2	1.0155 1.0075
USDJPY	The USDJPY is currently testing the resistance level at 135.25, and the MACD, which shows diminishing bearish trend, suggests that the pair will extend its gains if it successfully breaks above the resistance level.	R1 R2	135.25 136.65	S1 S2	133.15 131.35
AUDUSD	The AUDUSD was trading higher after previously rebounding from the 0.6855 support level. However, MACD, which showed bearish trend, suggests that the pair will experience a short-term technical correction.	R1 R2	0.6985 0.7115	S1 S2	0.6855 0.6725
NZDUSD	NZDUSD has been trading lower and is currently testing near the 0.6245 support level. The MACD indicator, which showed diminishing bullish trend, suggests that the pair will extend its losses after successfully breaking below the support level.	R1 R2	0.6360 0.6430	R1 R2	0.6245 0.6140
USDCAD	USDCAD was trading higher after breaking through the previous resistance level at 1.2925. The bullish trend indicated by MACD suggests that the pair will extend its gains toward the resistance level at 1.2985.	R1 R2	1.2985 1.3050	R1 R2	1.2925 1.2805
USDCHF	The USDCHF was trading higher after breaking through the previous resistance level at 0.9590. The MACD indicator, which showed a bullish bias trend, suggests that the pair will extend its gains toward the resistance level of 0.9675.	R1 R2	0.9675 0.9755	S1 S2	0.9590 0.9520
Crude Oil	Crude Oil prices rose after previously rebounding from a support level of 87.30. MACD, which showed continued bullish trend, suggests that the commodity will extend its gains toward the resistance level of 89.70.	R1 R2	89.70 91.80	S1 S2	87.30 82.70
XAUUSD	The Gold price has been trading lower and is currently testing the support level of 1770.05. The commodity's MACD, which showed diminishing bullish trend, suggests that it will extend its losses after successfully breaking below the support level.	R1 R2	1783.20 1829.75	S1 S2	1770.05 1729.25
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.