Technical Analysis
Date: 10.08.2022
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 traded higher following prior rebound from the support level at 1.2035. However, MACD which illustrated diminishing bullish trend suggest the pair to undergo technical correction in short 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. The MACD indicator, which showed a bullish bias trend, suggests that the pair will extend its gains toward the resistance level at 1.0265. | 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 | 135.25 136.65 |
| 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 breaking above the previous resistance level at 0.6245. 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 traded lower following prior retracement from the resistance level at 1.2925. MACD which illustrated diminishing bullish trend suggests the pair to extend its losses toward the support level at 1.2805. | R1 R2 | 1.2925 1.2985 | R1 R2 | 1.2805 1.2730 |
| USDCHF | USDCHF was traded lower while currently testing the support level at 0.9520. MACD which illustrated bearish bias trend suggest the pair to extend its losses after it successfully breakout below the support level. | R1 R2 | 0.9590 0.9675 | S1 S2 | 0.9520 0.9450 |
| Crude Oil | The price of crude oil rose after previously rebounding from the support level of 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 | Gold price was traded higher following prior breakout above the previous resistance level at 1783.20. MACD which illustrated bullish bias trend suggest the commodity to extend its gains toward the resistance level at 1829.75. | 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.