Technical Analysis
Date: 16.05.2022
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 was trading higher after previously rebounding from the support level. MACD, which showed growing bullish trend, suggests that the pair will prolong its gains. | 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. However, MACD, which shows fading bearish trend, suggests that the pair will trade higher as a technical correction. | R1 R2 | 1.0485 1.0620 | S1 S2 | 1.0355 1.0205 |
USDJPY | The USDJPY has been trading downward and is presently challenging the support level. The MACD, which showed falling bullish trend, suggests that the pair will continue its losses after the breakthrough. | R1 R2 | 131.05 132.65 | S1 S2 | 128.80 127.15 |
AUDUSD | The AUDUSD has been trading downward and is presently challenging the support level. However, MACD, which shows fading bearish trend, suggests that the pair will trade higher as a technical correction. | R1 R2 | 0.7055 0.7260 | R1 R2 | 0.6870 0.6720 |
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 higher following prior rebound from the support level. MACD which illustrated diminishing bearish trend suggest the pair to extend its gains toward resistance level. | R1 R2 | 1.3050 1.3185 | S1 S2 | 1.2890 1.2720 |
USDCHF | Following the last breakout over the previous resistance level, the USDCHF was traded higher. MACD, which showed diminishing bearish trend, suggests that the pair will extend its rise. | R1 R2 | 1.0075 1.0185 | S1 S2 | 0.9970 0.9850 |
Crude Oil | The price of Crude oil has fallen and is presently challenging a support level. The rising bearish trend in the MACD suggests that the commodity's losses will be extended. | R1 R2 | 108.55 110.35 | S1 S2 | 106.65 105.45 |
XAUUSD | The Gold price fell after a previous breakthrough below the previous support level. The commodity's MACD, which showed falling bullish trend, suggests that it will prolong its losses near the support level. | R1 R2 | 1829.40 1863.25 | S1 S2 | 1789.95 1753.10 |
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.