Technical Analysis
Date: 24.05.2022
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 | GBPUSD was trading higher after breaking out over the previous resistance level. However, the MACD, which showed declining bullish trend, suggests that the pair should be traded down as a technical correction. | R1 R2 | 1.2615 1.2710 | S1 S2 | 1.2535 1.2430 |
| EURUSD | Following a previous retreat from the resistance level, the EURUSD fell lower. The declining bullish trend indicated by the MACD suggests that the pair's losses will be extended. | R1 R2 | 1.0685 1.0770 | S1 S2 | 1.0605 1.0500 |
| USDJPY | The USDJPY has been trading higher and is presently challenging the resistance level. The falling bearish trend indicated by the MACD suggests that the pair will continue its gains if it successfully breaks through the resistance level. | R1 R2 | 128.00 129.05 | S1 S2 | 127.20 126.25 |
| AUDUSD | The AUDUSD has been trading downward and is presently challenging the support level. If the pair successfully breaks through the support level, the MACD, which shows declining bullish trend, suggests that it will continue its losses. | R1 R2 | 0.7155 0.7235 | R1 R2 | 0.7075 0.6995 |
| NZDUSD | NZDUSD has been trading downward and is presently challenging the support level. If the pair successfully breaks through the support level, the MACD, which shows declining bullish trend, suggests that it will continue its losses. | R1 R2 | 0.6500 0.6580 | R1 R2 | 0.6425 0.6350 |
| USDCAD | The USDCAD was trading higher after previously rebounding from the support level. MACD, which showed growing bullish trend, suggests that the pair will prolong its gains. | R1 R2 | 1.2875 1.2970 | S1 S2 | 1.2765 1.2635 |
| USDCHF | The USDCHF has been trading higher and is presently challenging the barrier level. The falling bearish trend indicated by the MACD suggests that the pair will continue its gains if it successfully breaks through the resistance level. | R1 R2 | 0.9675 0.9740 | S1 S2 | 0.9595 0.9520 |
| Crude Oil | The price of Crude oil fell after breaking below the last support level. The rising bearish trend in the MACD suggests that the commodity's losses will be extended. | R1 R2 | 110.65 113.10 | S1 S2 | 107.50 104.35 |
| XAUUSD | The Gold price has been trading downward and is presently challenging the support level. If the commodity successfully breaks through the support level, the MACD, which shows decreasing bearish trend, suggests that it will continue its losses. | R1 R2 | 1883.35 1915.65 | S1 S2 | 1851.70 1830.15 |
| 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.