Technical Analysis
Date: 18.10.2022
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 | The resistance level at 1.1350 is currently being tested by the GBPUSD, which was trading higher. After the pair successfully breaks out above the resistance level, the MACD, which showed bullish bias trend, suggests that its gains will be extended. | R1 R2 | 1.1350 1.1620 | S1 S2 | 1.1185 1.1050 |
EURUSD | Following an earlier breakout above the prior resistance level at 0.9830, the EURUSD was traded higher. The MACD, which displayed bullish bias trend, suggests that the pair continue to gain momentum toward the 0.9910 resistance level. | R1 R2 | 0.9910 1.0025 | S1 S2 | 0.9830 0.9685 |
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 | The Australian dollar was trading higher as it was attempting to overcome resistance at 0.6285. The MACD indicator's indication of waning bearish trend suggests that after the pair successfully breaks through the resistance level, its gains will be extended. | R1 R2 | 0.6285 0.6430 | S1 S2 | 0.6165 0.5990 |
NZDUSD | Following a previous breakout above the prior resistance level at 0.5625, the NZDUSD was traded higher. The pair should continue to gain trend toward the 0.5710 resistance level, according to MACD's bullish bias momentum indication. | R1 R2 | 0.5710 0.5775 | R1 R2 | 0.5625 0.5560 |
USDCAD | The support level at 1.3715 is currently being tested as the USDCAD trades lower. After successfully breaking through the support level, the MACD, which showed trend with a bearish bias, suggests that the pair will continue to lose money. | R1 R2 | 1.3875 1.4000 | R1 R2 | 1.3715 1.3600 |
USDCHF | Following a previous breakout below the previous support level at 1.0030, USDCHF was traded lower. The MACD indicator's indication of waning bullish trend suggests that the pair will continue to fall until it reaches the 0.9930 support level. | R1 R2 | 1.0030 1.0110 | S1 S2 | 0.9930 0.9840 |
Crude Oil | Following a previous breakout below the previous support level at 86.15, the price of Crude Oil was traded lower. The commodity's losses are likely to continue toward the support level at 80.60, according to MACD's bearish bias trend indicator. | 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.