Technical Analysis
Date:13.10.2021
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 | The pound-to-dollar exchange rate is presently trading flat against a resistance level of 1.3620. Even yet, the MACD indicator, which depicts a waning bearish trend signal, indicates that the pair is likely to move higher once it clears the previous barrier level. | R1 R2 | 1.3620 1.3745 | S1 S2 | 1.3435 1.3300 |
| EURUSD | A recovery from support around 1.1515 has left the EURUSD trading in a sideways pattern. A declining bearish trend signal on the MACD, however, suggests that the pair will continue its recovery in the near term targeting resistance around 1.1610. | R1 R2 | 1.1610 1.1690 | S1 S2 | 1.1515 1.1440 |
| USDJPY | Currently, the USDJPY is trading below the key support level of 113.40. Once it breaks below support, the pair's losses are likely to deepen. MACD shows a declining bullish trend signal with the beginning construction of death cross. | R1 R2 | 113.95 114.55 | S1 S2 | 113.40 112.60 |
| AUDUSD | The Australian dollar fell against the US dollar, and it is now challenging support around 0.7320. It's possible that the pair's losses may widen if MACD shows a bearish trend signal with the development of a death cross. | R1 R2 | 0.7415 0.7485 | S1 S2 | 0.7320 0.7235 |
| NZDUSD | The New Zealand dollar is trading in a narrow sideways range against the US dollar. Lacking momentum and a clear direction from MACD, it's recommended to hold off on joining the market until further signals emerge. | R1 R2 | 0.6990 0.7075 | S1 S2 | 0.6880 0.6805 |
| USDCAD | The USDCAD exchange rate is presently trading flat around 1.2455, which is the last support level. As a result of the bullish MACD signal, the pair is expected to move higher as a technical correction towards the resistance level of 1.258. | R1 R2 | 1.2585 1.2695 | S1 S2 | 1.2455 1.2310 |
| USDCHF | Following a recent pullback from the resistance level of 0.9305, USDCHF is trading in a sideways pattern. Although the bullish momentum is decreasing, MACD shows that the pair is likely to continue its pullback towards the support level 0.9240 in the near term. | R1 R2 | 0.9305 0.9365 | S1 S2 | 0.9240 0.9185 |
| Crude Oil | After a recent pullback from its previous high level, crude oil prices fell. As a result of current MACD death cross formation, which shows bearish trend signals, commodity's losses may reach the support level of 79.40. | R1 R2 | 82.50 84.55 | S1 S2 | 79.40 76.40 |
| XAUUSD | The price of gold has been trading in a narrow range. With the development of a golden cross on the MACD, the commodity may be poised to continue its advances into resistance at 1779.50. | R1 R2 | 1779.50 1806.85 | S1 S2 | 1747.05 1721.65 |
| 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.