Technical Analysis
Date: 11.10.2022
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 | While currently testing the support level, GBPUSD was trading lower. The pair may, however, be traded higher as a result of a technical correction, according to MACD, which showed diminishing bearish momentum. | R1 R2 | 1.1455 1.1735 | S1 S2 | 1.1040 1.0785 |
| EURUSD | EURUSD was traded lower following prior breakout below the previous support level. However, MACD which illustrated diminishing bearish trend suggest the pair to be traded higher as technical correction. | R1 R2 | 0.9740 0.9915 | S1 S2 | 0.9550 0.9460 |
| USDJPY | While currently testing the resistance level, USDJPY was trading higher. The MACD indicator's indication of waning bearish trend suggests that the pair will continue to gain after breaking out. | R1 R2 | 145.80 150.15 | S1 S2 | 141.15 136.55 |
| AUDUSD | AUDUSD was traded lower following prior breakout below the previous support level. MACD which illustrated increasing bearish trend suggest the pair to extend its losses. | R1 R2 | 0.6385 0.6515 | S1 S2 | 0.6185 0.5985 |
| NZDUSD | Following a previous breakout below the prior support level, the NZDUSD was traded lower. The MACD indicator's increasing bearish trend suggests that the pair will continue to lose ground until it reaches the support level. | R1 R2 | 0.5630 0.5925 | R1 R2 | 0.5315 0.4940 |
| USDCAD | While currently testing the resistance level, USDCAD prices increased. The MACD, which showed increasing bullish trend, suggests that after the breakout, the pair will continue to gain. | R1 R2 | 1.3820 1.3970 | R1 R2 | 1.3500 1.3315 |
| USDCHF | While currently testing the resistance level, USDCHF prices increased. The MACD, which showed waning bullish trend, however, suggests that the pair be traded lower as a technical correction. | R1 R2 | 1.0035 1.0185 | S1 S2 | 0.9925 0.9795 |
| Crude Oil | Following a prior retracement from the resistance level, the price of Crude Oil was traded lower. The MACD indicator's increasing bearish trend suggests that the pair will continue to lose ground until it reaches the support level. | R1 R2 | 93.10 96.05 | S1 S2 | 89.20 86.35 |
| XAUUSD | Gold price was traded lower while currently testing the support level. However, MACD which illustrated diminishing bearish trend suggest the commodity to be traded higher as technical correction. | R1 R2 | 1676.30 1700.60 | S1 S2 | 1660.95 1642.85 |
| 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.