Technical Analysis
Date: 17.08.2022
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 is currently trading higher while testing the resistance level. However, the MACD, which showed diminishing bullish trend, suggests that the pair should be traded lower as a technical correction. | 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. However, MACD, which shows diminishing bearish trend, suggests that the pair will trade higher as a technical correction. | R1 R2 | 1.0285 1.0365 | S1 S2 | 1.0155 1.0085 |
| USDJPY | The USDJPY was trading higher after previously rebounding from the support level. MACD, which showed increasing bullish trend, suggests that the pair will extend its gains toward the resistance level. | 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. However, MACD, which shows diminishing bearish trend, suggests that the pair will trade higher as a technical correction. | R1 R2 | 0.6455 0.6535 | R1 R2 | 0.6340 0.6225 |
| USDCAD | Following a previous retracement from the resistance level, USDCAD was traded lower. The MACD, which showed diminishing bullish trend, suggests that the pair will extend its losses toward the support level. | R1 R2 | 1.2950 1.3105 | R1 R2 | 1.2755 1.2645 |
| USDCHF | The USDCHF has been trading higher and is currently testing the resistance level. The MACD, which showed diminishing bullish trend, suggests that the pair will trade lower as a technical correction. | R1 R2 | 0.9505 0.9635 | S1 S2 | 0.9410 0.9305 |
| Crude Oil | The price of Crude Oil fell after breaking below the previous support level. However, the MACD, which showed diminishing bearish trend, suggests that the commodity will trade higher as a technical correction. | R1 R2 | 87.80 91.70 | S1 S2 | 84.10 79.05 |
| XAUUSD | The Gold price fell after a previous breakout below the previous support level. However, MACD, which shows increasing bullish trend, suggests that the commodity will trade higher as a 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.