Technical Analysis
Date: 16.03.2022
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 Levels |
|---|---|---|---|---|---|
| GBPUSD | GBPUSD was trading down after breaking below the prior support level. However, MACD, which shows a diminishing bearish trend, suggests that the pair will trade higher as a technical correction. | R1 R2 | 1.3190 1.3420 | S1 S2 | 1.2915 1.2755 |
| EURUSD | The EURUSD was trading inside a range and was now challenging the resistance level. However, the MACD, which showed a diminishing bullish trend, indicates that the pair will be traded down as a technical correction. | R1 R2 | 1.0975 1.1135 | S1 S2 | 1.0820 1.0690 |
| USDJPY | Following the previous breakthrough of the previous resistance level, the USDJPY was traded higher. The MACD, which shows a growing bullish trend, suggests that the pair continue its gains around the resistance level. | R1 R2 | 118.90 120.50 | S1 S2 | 117.50 116.25 |
| AUDUSD | The AUDUSD has been trading downward and is now testing the support level. However, the MACD, which showed a declining bearish trend, suggests that the pair will be traded upward as a technical correction. | R1 R2 | 0.7250 0.7410 | S1 S2 | 0.7180 0.7095 |
| NZDUSD | Following a previous rebound from the support level, the NZDUSD was traded higher. MACD, which showed diminishing bearish trend, suggests that the pair would extend its gains. | R1 R2 | 0.6800 0.6895 | S1 S2 | 0.6715 0.6625 |
| USDCAD | USDCAD was trading down after breaking below the last support level. The MACD, which showed growing bearish trend, suggests that the pair's losses would be extended. | R1 R2 | 1.2790 1.2885 | S1 S2 | 1.2705 1.2635 |
| USDCHF | Following a recent breakout over the previous resistance level, the USDCHF was traded higher. MACD, which showed growing bullish trend, suggests that the pair will extend its gains. | R1 R2 | 0.9425 0.9580 | S1 S2 | 0.9310 0.9115 |
| Crude Oil | The price of crude oil has fallen and is presently challenging a support level. However, the MACD, which showed falling bearish trend, suggests that the commodity would trade upward as a technical correction. | R1 R2 | 99.35 105.40 | S1 S2 | 92.30 85.20 |
| XAUUSD | Following the previous breakthrough of the previous support level, the gold price was traded downward. However, the MACD indicator, which showed diminishing bearish trend, suggests that the pair should be traded upward as a technical correction. | R1 R2 | 1946.35 1973.00 | S1 S2 | 1912.60 1881.35 |
| 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.