Technical Analysis
Date: 16.08.2022
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 lower and is currently testing the support level. The MACD, which showed increasing bearish trend, suggests that the pair will extend its losses after the breakout. | R1 R2 | 1.2125 1.2185 | S1 S2 | 1.2055 1.1975 |
| EURUSD | The EURUSD has been trading lower and is currently testing the support level. MACD, which indicated increasing bearish trend, suggests that the pair will extend its losses following the breakout. | R1 R2 | 1.0285 1.0365 | S1 S2 | 1.0155 1.0085 |
| USDJPY | The USDJPY has been trading lower and is currently testing the support level. The MACD, which showed diminishing bullish trend, suggests that the pair will extend its losses after the breakout. | R1 R2 | 135.30 137.30 | S1 S2 | 132.40 130.45 |
| AUDUSD | The AUDUSD has been trading lower and is currently testing the support level. The MACD, which showed increasing bearish trend, suggests that the pair will extend its losses after the breakout. | R1 R2 | 0.7120 0.7195 | S1 S2 | 0.6990 0.6895 |
| NZDUSD | NZDUSD has been trading lower and is currently testing the support level. The MACD, which showed increasing bearish trend, suggests that the pair will extend its losses after the breakout. | R1 R2 | 0.6455 0.6535 | R1 R2 | 0.6340 0.6225 |
| USDCAD | The USDCAD is currently trading higher while testing the resistance level. MACD, which showed increasing bullish trend, suggests that the pair will extend its gains after the breakout. | R1 R2 | 1.2950 1.3105 | R1 R2 | 1.2755 1.2645 |
| USDCHF | The USDCHF was trading higher after previously rebounding from the support level. The MACD, which showed increasing bullish trend, suggests that the pair will extend its gains toward the resistance level. | R1 R2 | 0.9505 0.9635 | S1 S2 | 0.9410 0.9305 |
| Crude Oil | Crude Oil price was traded lower while currently testing the support level. However, MACD which illustrated diminishing bearish trend suggest the commodity to be traded higher as technical correction. | R1 R2 | 89.50 92.50 | S1 S2 | 87.25 84.05 |
| XAUUSD | Gold price was traded lower following prior breakout below the previous support level. However, MACD which illustrated diminishing bearish trend suggest the commodity to be traded higher as technical correction. | R1 R2 | 1783.30 1801.75 | S1 S2 | 1768.90 1754.50 |
| 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.