Technical Analysis
Date:08.10.2021
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 | The GBPUSD currency pair has been trading higher and is now targeting the resistance level of 1.3620. However, MACD signals indicating decreasing bullish trend indicate the pair is due for a technical drop towards the support level 1.3435. | R1 R2 | 1.3620 1.3745 | S1 S2 | 1.3435 1.3300 |
| EURUSD | EURUSD has been trading downward and is now challenging the 1.1515 support level. However, MACD's bullish trend indicator suggests that the pair should be traded higher as a technical corrective towards the resistance level 1.1610. | R1 R2 | 1.1610 1.1690 | S1 S2 | 1.1515 1.1440 |
| USDJPY | USDJPY has been trading higher and is now hitting resistance around 112.05. MACD, which displays a bullish trend signal in conjunction with the recent formation of a golden cross, suggests that the pair will extend its gains after a break above the resistance level. | R1 R2 | 112.05 112.60 | S1 S2 | 111.50 110.75 |
| AUDUSD | The AUDUSD currency pair has been trading higher and is now challenging the resistance level of 0.7320. However, MACD's decreasing bullish trend signal suggests that the pair should be traded down as a technical correction towards the 0.7235 support level. | R1 R2 | 0.7320 0.7415 | S1 S2 | 0.7235 0.7150 |
| NZDUSD | NZDUSD was trading flat around the 0.6915 support level. However, MACD signals indicating bullish trend indicate that the pair may trade higher in the near future, approaching the resistance level 0.6990. | R1 R2 | 0.6990 0.7075 | S1 S2 | 0.6915 0.6815 |
| USDCAD | USDCAD has been trading down as a result of a recent breach below the prior support level of 1.2585. The MACD indicator, which indicates a bearish trend signal, suggests that the pair will continue its losses towards the 1.2455 support level. | R1 R2 | 1.2585 1.2695 | S1 S2 | 1.2455 1.2310 |
| USDCHF | USDCHF moved higher after its recent recovery from a low point. The MACD indicator, which indicates a bullish trend signal, suggests that the pair will continue its recovery toward the resistance level 0.9310. | R1 R2 | 0.9310 0.9375 | S1 S2 | 0.9240 0.9185 |
| Crude Oil | Crude oil is presently trading higher and is targeting the resistance level of 79.40. The MACD indicator, which displays a bullish trend signal in the shape of a golden cross, suggests that the commodity will continue its gains after a break over the resistance level 79.40. | R1 R2 | 79.40 82.50 | S1 S2 | 76.40 74.20 |
| XAUUSD | Gold prices fell after a recent pullback from their previous highs. The MACD indicator, which indicates a bearish trend signal, indicates that the commodity would continue its losses towards the support level 1747.05. | R1 R2 | 1779.70 1806.85 | S1 S2 | 1747.05 1721.65 |
| 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.