Technical Analysis
Date:16.09.2021
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.
| Instruments | Description ( H4 Timeframe ) | R | Resistance levels | S | Support Levels |
|---|---|---|---|---|---|
| GBPUSD | The pound-to-dollar exchange rate has remained in a sideways channel. Although the MACD is indicating a bullish trend signal with the development of a golden cross, the pair is expected to trade higher in the near term towards the resistance level of 1.3875, according to the MACD. | R1 R2 | 1.3875 1.3990 | S1 S2 | 1.3765 1.3600 |
| EURUSD | The euro-dollar exchange rate has remained steady, and it is presently probing around the support level of 1.1800. However, the MACD indicator, which shows a weakening bullish trend signal, suggests that the pair may trade down if it falls below the support level in the near term. | R1 R2 | 1.1885 1.1950 | S1 S2 | 1.1800 1.1705 |
| USDJPY | The USDJPY has been trading downward, and it is now probing around the support level of 109.15 cents. Following a breach below the support level, the MACD, which shows a persistent bearish trend signal, suggests that the pair will continue its losses. | R1 R2 | 109.60 110.20 | S1 S2 | 109.15 108.65 |
| AUDUSD | The Australian dollar rose against the US dollar, which is now challenging the resistance level of 0.7335. However, the MACD indicator, which shows a persistent bearish trend signal, suggests that the pair will trade lower, approaching the support level of 0.7250. | R1 R2 | 0.7330 0.7415 | S1 S2 | 0.7250 0.7150 |
| NZDUSD | The New Zealand dollar continues to move in a sideways pattern, with the pair presently probing around the resistance level of 0.7145. In contrast, the MACD indicator, which displays a bullish trend signal with the creation of a golden cross, suggests that the pair will continue to trade higher after breaking over the resistance level. | R1 R2 | 0.7145 0.7225 | S1 S2 | 0.7075 0.6990 |
| USDCAD | Following the recent pullback from the resistance level of 1.2685, the USDCAD has been trading in a sideways pattern. A bearish trend signal on the MACD indicates that the pair is likely to continue its retracement in the near term towards the support level of 1.2585, according to this indicator. | R1 R2 | 1.2685 1.2770 | S1 S2 | 1.2585 1.2510 |
| USDCHF | The USDCHF has been trading higher as of late, and it is now challenging the resistance level of 0.9200. After breaking over the resistance level, the MACD indicator, which shows a decreasing bearish trend signal, suggests that the pair will continue its gains. | R1 R2 | 0.9200 0.9245 | S1 S2 | 0.9100 0.9025 |
| Crude Oil | Following a recent breakthrough over the previous resistance level of 70.45, the price of crude oil has been trading upward. The commodity is expected to continue its gains towards the barrier level of 74.30, according to the MACD, which shows an ongoing bullish trend signal. | R1 R2 | 74.30 77.00 | S1 S2 | 70.45 68.05 |
| XAUUSD | Following a recent pullback from the resistance level of 1806.85, the gold price has been trading in a sideways channel. However, the moving average convergence divergence (MACD) indicator, which shows a decreasing bullish trend signal, suggests that the commodity may continue its retracement in the near run | R1 R2 | 1806.85 1831.20 | S1 S2 | 1785.80 1760.35 |
| Instruments | 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.