Technical Analysis
Date: 24.08.2022
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 lower after breaking below the previous support level. The decreasing bullish trend indicated by the MACD suggests that the pair's losses will be extended. | R1 R2 | 1.1820 1.1895 | S1 S2 | 1.1740 1.1645 |
| EURUSD | The EURUSD has been trading lower and is currently testing the support level. However, MACD, which shows increasing bullish trend, suggests that the pair will trade higher as a technical correction. | R1 R2 | 1.0005 1.0075 | S1 S2 | 0.9935 0.9860 |
| USDJPY | Following the previous breakout above the previous resistance level, the USDJPY was traded higher. MACD, which showed decreasing bearish trend, suggests that the pair will extend its gains. | R1 R2 | 138.35 139.50 | S1 S2 | 136.65 134.90 |
| AUDUSD | The AUDUSD was trading lower after a previous retracement from the resistance level. The decreasing bullish trend indicated by the MACD suggests that the pair's losses will be extended. | R1 R2 | 0.6930 0.7005 | S1 S2 | 0.6865 0.6810 |
| NZDUSD | NZDUSD has been trading lower and is currently testing the support level. If the pair successfully breaks through the support level, the MACD, which shows decreasing bullish trend, suggests that it will extend its losses. | R1 R2 | 0.6270 0.6355 | R1 R2 | 0.6170 0.6085 |
| USDCAD | Following a previous retracement from the resistance level, USDCAD was traded lower. The decreasing bullish trend indicated by the MACD suggests that the pair's losses will be extended. | R1 R2 | 1.3050 1.3135 | R1 R2 | 1.2935 1.2825 |
| USDCHF | Following the previous breakout above the previous resistance level, the USDCHF was traded higher. However, the MACD, which showed decreasing bullish trend, suggests that the pair should be traded lower as a technical correction. | R1 R2 | 0.9680 0.9750 | S1 S2 | 0.9595 0.9520 |
| Crude Oil | The price of Crude Oil has risen and is currently testing the resistance level. However, the MACD, which showed decreasing bullish trend, suggests that the commodity will trade lower as a technical correction. | R1 R2 | 94.40 97.90 | S1 S2 | 91.50 87.95 |
| XAUUSD | Following the previous rebound from the support level, the Gold price was traded higher. However, the MACD, which showed decreasing bullish trend, suggests that the commodity will trade lower as a technical correction. | R1 R2 | 1756.85 1778.80 | S1 S2 | 1731.55 1712.80 |
| 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.