Technical Analysis
Date:24.12.2021
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 Levels |
|---|---|---|---|---|---|
| GBPUSD | The pound was trading higher against the dollar after breaking over the previous barrier level at 1.3355. Considering the strong bullish momentum indicated by the MACD, the pair is expected to continue its gains into the resistance level at 1.3505. | R1 R2 | 1.3505 1.3630 | S1 S2 | 1.3355 1.3195 |
| EURUSD | The euro-dollar exchange rate has risen, and it is presently challenging the resistance level of 1.1345. However, the MACD indicator, which showed a decline in bullish trend, suggests that the pair will trade lower in the near term as a technical correction. | R1 R2 | 1.1345 1.1440 | S1 S2 | 1.1235 1.1175 |
| USDJPY | The USDJPY has been trading higher and is presently challenging the resistance level at 114.40. The MACD indicator, which indicates growing bullish trend, suggests the pair will extend its gains after a successful breakthrough over the resistance level. | R1 R2 | 114.40 115.40 | S1 S2 | 112.80 112.05 |
| AUDUSD | The AUDUSD moved higher after a previous breach over the 0.7175 barrier mark. MACD's growing bullish trend indicates that the pair will continue its advances toward the 0.7260 resistance level. | R1 R2 | 0.7260 0.7365 | S1 S2 | 0.7175 0.7090 |
| NZDUSD | NZDUSD moved higher after a previous comeback from the 0.6690 support level. MACD's strong bullish trend suggests that the pair will continue its advances toward the 0.6895 resistance level. | R1 R2 | 0.7260 0.7365 | S1 S2 | 0.7175 0.7090 |
| USDCAD | USDCAD moved lower after a recent fall below the 1.2840 support level. However, MACD's decreasing bearish trend suggests that the pair may trade higher in the near term as a technical correction. | R1 R2 | 1.2840 1.2935 | R1 R2 | 1.2765 1.2680 |
| USDCHF | USDCHF has been trading downward and is presently approaching the 0.9170 support level. MACD's growing bearish trend indicates that the pair will extend its losses after a successful break below the support level. | R1 R2 | 0.9260 0.9315 | R1 R2 | 0.9170 0.9105 |
| Crude Oil | The price of crude oil increased after a recent breach over the previous resistance level at 72.65. However, MACD's decreasing bullish trend suggests that the commodity will trade down in the near future as a technical correction. | R1 R2 | 75.10 78.85 | R1 R2 | 72.65 69.55 |
| XAUUSD | Gold prices have been trading higher and are presently approaching the 1811.50 resistance level. However, MACD's decreasing bullish trend suggests that the commodity will trade down in the near future as a technical correction. | R1 R2 | 1811.50 1830.55 | S1 S2 | 1786.30 1762.20 |
| Instrument | Description ( H4 Timeframe ) | R | Resistance levels | S | Support Levels |
⊗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.