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.