Technical Analysis
Date: 17.10.2022
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 | Following a prior recovery from the support level at 1.1185, GBPUSD was traded higher. The MACD indicator's bullish bias trend suggests that the pair should continue to gain ground as it approaches the 1.1350 resistance level. | R1 R2 | 1.1350 1.1620 | S1 S2 | 1.1185 1.1050 |
EURUSD | Following a prior recovery from the support level at 0.9685, the EURUSD was traded higher. The bullish trend indicated by MACD suggests that the pair should continue to gain ground as it approaches the 0.9830 resistance level. | R1 R2 | 0.9830 0.9910 | S1 S2 | 0.9685 0.9585 |
USDJPY | Following an earlier breakout above the prior resistance level at 147.30, USDJPY was traded higher. The MACD indicator's bullish bias trend suggests that the pair should continue to gain ground as it approaches the 149.35 resistance level. | R1 R2 | 149.35 152.00 | S1 S2 | 147.30 144.70 |
AUDUSD | Following a prior recovery from the support level at 0.6165, the AUDUSD was traded higher. The MACD indicator's indication of waning bearish trend suggests that the pair should continue to gain ground until reaching the 0.6285 resistance level. | R1 R2 | 0.6285 0.6430 | S1 S2 | 0.6165 0.5990 |
NZDUSD | Following a prior recovery from the support level at 0.6165, the AUDUSD was traded higher. The MACD indicator's indication of waning bearish trend suggests that the pair should continue to gain ground until reaching the 0.6285 resistance level. | R1 R2 | 0.5625 0.5710 | R1 R2 | 0.5560 0.5500 |
USDCAD | Following a prior retracement from the resistance level at 1.3875, USDCAD was traded lower. The bearish trend indicated by the MACD suggests that the pair will continue to fall until it reaches the 1.3715 support level. | R1 R2 | 1.3875 1.4000 | R1 R2 | 1.3715 1.3600 |
USDCHF | The support level at 1.0030 is currently being tested as the USDCHF price fell. After the pair successfully broke below the support level, MACD, which showed waning bullish trend, suggested that the losses would be prolonged. | R1 R2 | 1.0110 1.0160 | S1 S2 | 1.0030 0.9930 |
Crude Oil | Following a previous breakout below the previous support level at 86.15, the price of Crude Oil was traded lower. The commodity is expected to continue losing ground until it reaches the support level at 80.60, according to MACD, which showed waning bullish trend. | R1 R2 | 86.15 89.45 | S1 S2 | 80.60 76.60 |
XAUUSD | Following a prior recovery from the lower level, the price of Gold was traded higher. The MACD indicator's indication of waning bearish trend suggests that the commodity will continue to rebound toward the 1661.40 resistance level. | R1 R2 | 1661.40 1693.35 | S1 S2 | 1627.40 1600.00 |
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.