Technical Analysis
Date: 20.05.2022
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 recent breakout over the previous resistance level, the GBPUSD was traded higher. The growing bullish trend of the MACD suggests that the pair will extend its gains. | R1 R2 | 1.3090 1.3135 | S1 S2 | 1.3010 1.2930 |
EURUSD | The EURUSD has been trading higher as it approaches the resistance level. If the pair successfully breaks through the resistance level, the MACD, which indicated increased bullish trend, suggests the pair will continue its gains. | R1 R2 | 1.0845 1.0955 | S1 S2 | 1.0685 1.0565 |
USDJPY | The USDJPY has been trading downward and is presently challenging support. If the pair successfully breaks through the support level, the MACD, which shows declining bullish trend, suggests the pair will extend its losses. | R1 R2 | 129.05 129.95 | S1 S2 | 128.00 127.05 |
AUDUSD | The AUDUSD has been trading higher as it approaches the barrier level. If the pair successfully breaks through the resistance level, the MACD, which indicated increased bullish trend, suggests the pair will continue its gains. | R1 R2 | 0.7410 0.7465 | R1 R2 | 0.7365 0.7300 |
NZDUSD | Following a recent breakout over the previous resistance level, the NZDUSD was traded higher. The growing bullish trend of the MACD suggests that the pair will extend its gains. | R1 R2 | 0.6800 0.6870 | R1 R2 | 0.6740 0.6675 |
USDCAD | Following a recent breakthrough below the previous support level, the USDCAD was traded lower. The increasing bearish momentum of the MACD suggests that the pair will continue losing. | R1 R2 | 1.2605 1.2645 | S1 S2 | 1.2565 1.2520 |
USDCHF | USDCHF was traded lower while currently testing the support level. MACD which illustrated decreasing bullish trend suggest the pair to extend its losses if successfully breakout the support level. | R1 R2 | 0.9555 0.9605 | S1 S2 | 0.9510 0.9455 |
Crude Oil | The price of Crude oil has been trading upward, and it is presently challenging the resistance level. If the commodity successfully breaks through the resistance level, the MACD, which indicated diminishing bearish trend, suggests the commodity would extend its gains. | R1 R2 | 103.75 108.40 | S1 S2 | 98.55 93.70 |
XAUUSD | Following a recent breakthrough below the previous support level, the Gold price has been trading downward. The rising bearish trend of the MACD suggests that the commodity will continue to lose ground. | R1 R2 | 1957.85 1980.75 | S1 S2 | 1918.85 1890.40 |
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.