Technical Analysis
Date: 13.05.2022
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 has been trading downward and is presently around the support level. However, MACD, which shows fading bearish trend, suggests that the pair will trade higher as a technical correction. | R1 R2 | 1.2385 1.2590 | S1 S2 | 1.2200 1.2010 |
EURUSD | The EURUSD was trading downward after breaking below the last support level. MACD, which showed growing bearish trend, suggests that the pair may continue its losses into the 1.0205 support level. | R1 R2 | 1.0510 1.0855 | S1 S2 | 1.0205 0.9940 |
USDJPY | The USDJPY has been trading higher and is presently challenging the ressitance level. MACD, which showed diminishing bearish trend, suggests that the pair will extend its gains after breaking over the resistance level. | R1 R2 | 129.10 131.05 | S1 S2 | 127.15 125.30 |
AUDUSD | The AUDUSD was trading lower after breaking below the last support level. MACD, which showed growing bearish trend, suggests that the pair will continue its losses near the support level. | R1 R2 | 0.6910 0.7055 | R1 R2 | 0.6720 0.6510 |
NZDUSD | NZDUSD was trading down after breaking below the previous support level. However, MACD, which shows fading bearish trend, suggests that the pair will trade higher as a technical correction. | R1 R2 | 0.6400 0.6550 | R1 R2 | 0.6150 0.5920 |
USDCAD | USDCAD was traded lower following prior retracement from the resistance level. MACD, which showed growing bearish trend, suggests that the pair will continue its losses near the support level. | R1 R2 | 1.3050 1.3185 | S1 S2 | 1.2890 1.2720 |
USDCHF | USDCHF was traded higher following prior breakout above the previous resistance level. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level. | R1 R2 | 1.0075 1.0185 | S1 S2 | 0.9970 0.9850 |
Crude Oil | The price of Crude oil increased after a previous breakout over the previous resistance level. However, the MACD, which showed falling bullish trend, suggests that the commodity will trade lower as a technical correction. | R1 R2 | 108.55 110.35 | S1 S2 | 106.65 105.45 |
XAUUSD | The Gold price has been trading downward and is presently challenging the support level. MACD, which indicated increasing bearish trend, suggests that the commodity will prolong its losses following the breakout. | R1 R2 | 1863.25 1899.10 | S1 S2 | 1821.90 1789.95 |
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.