Technical Analysis
Date: 12.10.2022
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 | Following a previous breakout below the prior support level, GBPUSD 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 | 1.1045 1.1455 | S1 S2 | 1.0785 1.0580 |
EURUSD | The support level is currently being tested as the EURUSD fell in price. The MACD indicator's increasing bearish trend suggests that after the breakout, the pair will continue to lose ground. | R1 R2 | 0.9980 1.0315 | S1 S2 | 0.9615 0.9390 |
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 | Following a previous breakout under the prior support level, the AUDUSD was traded lower. The pair may, however, be traded higher as a result of a technical correction, according to MACD, which showed diminishing bearish trend. | R1 R2 | 0.6360 0.6515 | S1 S2 | 0.6185 0.5985 |
NZDUSD | NZDUSD was trading at a lower price while attempting to test the support level. The MACD indicator's increasing bearish trend suggests that after the breakout, the pair will continue to lose ground. | R1 R2 | 0.5925 0.6245 | R1 R2 | 0.5585 0.5315 |
USDCAD | While currently testing the resistance level, USDCAD prices increased. The MACD, which showed waning bullish trend, however, suggests that the pair be traded lower as a technical correction. | R1 R2 | 1.3820 1.3970 | R1 R2 | 1.3500 1.3315 |
USDCHF | The support level is currently being tested as USDCHF prices fell. The MACD indicator's increasing bearish trend suggests that after the breakout, the pair will continue to lose ground. | R1 R2 | 1.0035 1.0185 | S1 S2 | 0.9925 0.9795 |
Crude Oil | The price of Crude Oil has been trading lower as it approaches the support level. The pair may, however, be traded higher as a result of a technical correction, according to MACD, which showed diminishing bearish trend. | R1 R2 | 90.65 93.10 | S1 S2 | 88.45 86.35 |
XAUUSD | The price of Gold has been trading lower as it approaches the support level. The commodity may, however, be traded higher as a result of a technical correction, according to MACD, which showed diminishing bearish trend. | 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.