Technical Analysis
Date: 09.08.2022
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 was trading higher after previously rebounding from the 1.2035 support level. However, MACD, which showed diminishing bullish trend, suggests that the pair will experience a technical correction in the near term. | 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 is currently testing the resistance level at 0.6985, and the MACD, which shows a bullish bias, suggests that the pair will extend its gains if it successfully breaks above the resistance level. | R1 R2 | 0.6985 0.7115 | S1 S2 | 0.6855 0.6725 |
| NZDUSD | NZDUSD was trading higher after previously rebounding from the 0.6245 support level. The bullish trend indicated by MACD suggests that the pair will extend its gains toward the resistance level at 0.6360. | R1 R2 | 0.6360 0.6430 | R1 R2 | 0.6245 0.6140 |
| USDCAD | USDCAD was trading lower after retracing from the resistance level at 1.2925. MACD, which showed diminishing bullish trend, suggests that the pair will extend its losses toward the 1.2805 support level. | R1 R2 | 1.2925 1.2985 | R1 R2 | 1.2805 1.2730 |
| USDCHF | The USDCHF has been trading lower and is currently testing the support level of 0.9520. The MACD indicator, which shows a bearish bias trend, suggests that the pair will extend its losses after successfully breaking below the support level. | R1 R2 | 0.9590 0.9675 | S1 S2 | 0.9520 0.9450 |
| Crude Oil | Crude Oil prices rose after breaking through the previous resistance level at 89.70. MACD, which showed continued bullish trend, suggests that the commodity will extend its gains toward the resistance level of 91.80. | R1 R2 | 91.80 93.15 | S1 S2 | 89.70 87.30 |
| XAUUSD | The Gold price increased after breaking above the previous resistance level at 1783.20, and the MACD, which showed diminishing bullish trend, suggests that the commodity will experience a technical correction in the near term. | R1 R2 | 1829.75 1867.35 | S1 S2 | 1783.20 1770.05 |
| 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.