Technical Analysis
Date:10.11.2021
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 | GBPUSD has been trading flat and is presently challenging the 1.3545 support level. However, MACD signals indicating weakening bullish momentum imply that the pair should be traded down after a breach below the support level. | R1 R2 | 1.3650 1.3735 | S1 S2 | 1.3545 1.3420 |
| EURUSD | EURUSD is continuing to trade in a sideways pattern. However, MACD's weakening bullish trend signal suggests that the pair will trade lower in the medium term, maybe approaching the support level 1.1535. | R1 R2 | 1.1615 1.1685 | S1 S2 | 1.1535 1.1455 |
| USDJPY | The USDJPY has been trading flat and is presently targeting the resistance level of 113.20. However, MACD signals indicating diminishing bearish trend imply that the pair would trade higher after a break above the barrier level. | R1 R2 | 113.20 114.60 | S1 S2 | 112.00 110.85 |
| AUDUSD | The AUDUSD currency pair has been trading downward after a recent breach below the previous support level of 0.7385. MACD signals indicating bearish trend and the development of a death cross imply the pair will continue its losses towards the support level 0.7310. | R1 R2 | 0.7385 0.7455 | S1 S2 | 0.7310 0.7200 |
| NZDUSD | NZDUSD traded lower on a recent pullback from the 0.7145 barrier level. MACD signals indicating a bearish bias and the development of a death cross indicate that the pair will continue its losses towards the support level 0.7080. | R1 R2 | 0.7145 0.7230 | S1 S2 | 0.7080 0.6990 |
| USDCAD | USDCAD is trading flat in a sideways trend and is now challenging the 1.2410 support level. However, the MACD indicator, which indicates a bearish trend signal, suggests that the pair would trade lower after a breach below the support level. | R1 R2 | 1.2500 1.2620 | S1 S2 | 1.2410 1.2295 |
| USDCHF | USDCHF moved down after a previous retreat from the 0.9145 barrier level. MACD indicators that indicate a bearish trend signal predict that the pair will continue its losses towards the 0.9060 support level. | R1 R2 | 0.9145 0.9215 | S1 S2 | 0.9060 0.8990 |
| Crude Oil | Crude oil prices have been trading upward and are presently testing resistance around 84.75. MACD indicators, which indicate an ongoing bullish trend signal, indicate that the commodity may continue its gains after a break over resistance level 84.75. | R1 R2 | 84.75 88.40 | S1 S2 | 81.65 79.10 |
| XAUUSD | Gold prices have been trading higher and are presently targeting resistance around 1831.50. However, MACD signals indicating a waning bullish trend imply that the commodity may undergo a technical fall towards the support level 1805.60. | R1 R2 | 1831.50. 1857.75 | S1 S2 | 1805.60 1779.00 |
| 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.