Technical Analysis
Date: 26.10.2022
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 previous breakout above the prior resistance level, GBPUSD was traded higher. The pair may, however, trade lower as a result of a technical correction, according to MACD, which showed declining bullish trend. | R1 R2 | 1.1635 1.1835 | S1 S2 | 1.1370 1.1165 |
| EURUSD | While currently testing the resistance level, the EURUSD was traded higher. However, the MACD, which showed a decline in bullish trend, suggests that the pair trade lower as a result of a technical correction. | R1 R2 | 0.9990 1.0095 | S1 S2 | 0.9905 0.9810 |
| USDJPY | The USD/JPY exchange rate fell as it was attempting to test the support level. If the pair manages to successfully break through the support level, the MACD, which showed increasing bearish trend, suggests that its losses may be extended. | R1 R2 | 150.25 152.80 | S1 S2 | 147.65 144.80 |
| AUDUSD | Following a previous breakout above the prior resistance level, the AUDUSD was traded higher. The MACD, which showed a growing bullish trend, suggests that the pair will continue to gain. | R1 R2 | 0.6470 0.6590 | S1 S2 | 0.6370 0.6265 |
| NZDUSD | Following a previous breakout of the prior resistance level, the NZDUSD was traded higher. The MACD, which showed a growing bullish trend, suggests that the pair will continue to gain. | R1 R2 | 0.5805 0.5920 | R1 R2 | 0.5725 0.5635 |
| USDCAD | Following a previous breakout under the previous support level, USDCAD was traded lower. The MACD, which showed a growing bearish trend, suggests that the pair will continue to lose ground. | R1 R2 | 1.3635 1.3820 | R1 R2 | 1.3455 1.3320 |
| USDCHF | USDCHF was traded lower while currently testing the support level. MACD which illustrated increasing bearish trend suggest the pair to extend its losses if successfully breakout the support level. | R1 R2 | 1.0005 1.0105 | S1 S2 | 0.9930 0.9860 |
| Crude Oil | Crude oil price was traded higher following prior rebound from the support level. MACD which illustrated increasing bullish trend suggest the commodity to extend its gains. | R1 R2 | 86.05 89.00 | S1 S2 | 82.45 79.60 |
| XAUUSD | Following a prior recovery from the support level, the price of Gold was traded higher. The MACD, which showed a growing bullish trend, suggests that the commodity will continue to gain ground. | R1 R2 | 1663.15 1678.70 | S1 S2 | 1648.45 1635.45 |
| 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.