Technical Analysis
Date: 20.10.2022
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 retracement from the resistance level at 1.1350, the GBPUSD was traded lower. The MACD indicator's indication of waning bullish trend suggests that the pair will continue to fall until it reaches the support level at 1.1185. | R1 R2 | 1.1350 1.1620 | S1 S2 | 1.1185 1.1050 |
| EURUSD | After breaking below the previous support level at 0.9830, the EURUSD was traded lower. The MACD indicator's indication of waning bullish trend suggests that the pair will continue to fall until reaching the 0.9685 support level. | R1 R2 | 0.9830 0.9910 | S1 S2 | 0.9685 0.9585 |
| USDJPY | While testing the resistance level at 149.35, the USD/JPY was trading higher, and the MACD indicator, which showed bullish bias trend, suggested that the pair would continue to gain after its candle successfully closed above the resistance level. | R1 R2 | 149.35 152.00 | S1 S2 | 147.30 144.70 |
| AUDUSD | The AUDUSD currency pair has been trading lower as it approaches the 0.6285 support level. However, MACD, which displayed bullish bias trend, suggests that the pair will experience a short-term technical rebound. | R1 R2 | 0.6430 0.6530 | S1 S2 | 0.6285 0.6165 |
| NZDUSD | Following a prior retracement from the resistance level at 0.5710, the NZDUSD was traded at a lower price. However, MACD, which showed trend with a bullish bias, suggests that the pair will experience a short-term technical correction. | R1 R2 | 0.5710 0.5775 | R1 R2 | 0.5625 0.5560 |
| USDCAD | Following a prior recovery from the support level at 1.3715, USDCAD was traded higher. However, MACD, which showed trend with a bearish bias, suggests that the pair will experience a short-term technical retracement. | R1 R2 | 1.3875 1.4000 | R1 R2 | 1.3715 1.3600 |
| USDCHF | While currently testing the resistance level at 1.0055, USDCHF prices have increased. 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 | 1.0055 1.0160 | S1 S2 | 0.9930 0.9840 |
| Crude Oil | Following a prior recovery from the downward trendline, the price of Crude Oil was traded higher. The MACD, which displayed bullish bias trend, suggests that the commodity should continue to gain ground until reaching the resistance level at 86.15. | R1 R2 | 86.15 89.45 | S1 S2 | 80.60 76.60 |
| XAUUSD | The price of Gold has been trading lower as it tries to break through the 1627.60 support level. According to MACD, which showed a bearish bias in trend, the commodity is likely to continue losing after breaking through the support 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.