Technical Analysis
Date: 09.06.2022
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 traded lower while challenging the level of support. The declining bullish trend exhibited by the MACD suggests that the pair will extend its losses if it successfully breaches the support level. | R1 R2 | 1.2615 1.2710 | S1 S2 | 1.2535 1.2430 |
| EURUSD | EURUSD was traded higher following prior breakout above the previous resistance level. MACD which illustrated increasing bullish trend suggest the pair to extend its gains. | R1 R2 | 1.0770 1.0850 | S1 S2 | 1.0685 1.0605 |
| USDJPY | Following a prior breakdown below the previous support level, USDJPY moved lower. MACD indicating diminishing bullish trend suggests that the pair will extend its losses. | R1 R2 | 134.25 135.05 | S1 S2 | 133.10 131.95 |
| AUDUSD | AUDUSD was traded lower while testing the level of support. MACD indicating increasing bearish trend suggests the pair will continue its losses if the support level is breached. | R1 R2 | 0.7265 0.7355 | R1 R2 | 0.7165 0.7075 |
| NZDUSD | NZDUSD was traded lower while challenging the level of support. However, the MACD's falling bearish trend indicates that the pair should be traded upward as a technical corrective. | R1 R2 | 0.6500 0.6560 | R1 R2 | 0.6425 0.6350 |
| USDCAD | As a result of the preceding bounce from the support level, USDCAD moved higher. MACD indicating diminishing bearish trend suggests that the pair will extend its gains. | R1 R2 | 1.2635 1.2765 | S1 S2 | 1.2520 1.2415 |
| USDCHF | Following an earlier breakout over the previous resistance level, USDCHF moved higher. However, the declining bullish trend represented by the MACD suggests that the pair should be traded down as a technical correction. | R1 R2 | 0.9820 0.9900 | S1 S2 | 0.9740 0.9675 |
| Crude Oil | Following a breach over the previous level of resistance, the price of Crude oil moved higher. The growing bullish trend indicated by the MACD suggests that the commodity will prolong its gains. | R1 R2 | 126.20 128.90 | S1 S2 | 122.20 119.05 |
| XAUUSD | Following a previous comeback from the support level, the Gold price moved higher. However, the declining bullish trend indicated by the MACD suggests that the commodity will be traded down as a result of a technical correction. | R1 R2 | 1870.00 1895.15 | 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.