Technical Analysis
Date: 28.10.2022
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 | The resistance level at 1.1620 is currently being tested by the GBPUSD, which was trading higher. After the pair successfully breaks out above the resistance level, the MACD, which showed bullish bias momentum, suggests that its gains will be extended. | R1 R2 | 1.1620 1.1835 | S1 S2 | 1.1470 1.1300 |
| EURUSD | Following a prior retracement close to the 1.0025 resistance level, EURUSD was traded lower. The MACD indicator, which showed waning bullish trend, suggests that the pair will continue to fall until it reaches the support level at 0.900. | R1 R2 | 1.0025 1.0130 | S1 S2 | 0.9900 0.9775 |
| USDJPY | Following a previous breakout below the previous support level at 147.50, USDJPY was traded lower. The MACD indicator's bearish bias trend suggests that the pair will continue to fall until it reaches the 144.70 support level. | R1 R2 | 147.50 150.15 | S1 S2 | 144.70 141.65 |
| AUDUSD | Following a prior retracement from the resistance level at 0.6530, the AUDUSD was traded at a lower price. The MACD indicator's indication of waning bullish trend suggests that the pair will continue to fall until reaching the support level at 0.6400. | R1 R2 | 0.6530 0.6730 | S1 S2 | 0.6400 0.6205 |
| NZDUSD | Following a previous breakout above the prior resistance level at 0.5770, the NZDUSD was traded higher. The MACD indicator's bullish bias trend suggests that the pair should continue to gain ground as it approaches the resistance level at 0.5950. | R1 R2 | 0.5950 0.6105 | R1 R2 | 0.5770 0.5560 |
| USDCAD | Following a previous breakout above the prior resistance level at 0.5770, the NZDUSD was traded higher. The MACD indicator's bullish bias trend suggests that the pair should continue to gain ground as it approaches the resistance level at 0.5950. | R1 R2 | 1.3700 1.3880 | R1 R2 | 1.3500 1.3350 |
| USDCHF | Following a prior recovery from the support level at 0.9840, USDCHF was traded higher. However, MACD, which showed trend with a bearish bias, suggests that the pair will experience a short-term technical correction. | R1 R2 | 0.9935 1.0050 | S1 S2 | 0.9840 0.9720 |
| Crude Oil | Following a breakout above the prior resistance level at 86.70, the price of Crude Oil was traded higher, and the MACD indicator's bullish bias trend suggested that the commodity's gains could be extended toward the resistance level at 93.10. | R1 R2 | 93.10 98.15 | S1 S2 | 87.70 81.45 |
| XAUUSD | The commodity is currently testing a support level at 1660.90, and the price of Gold has been trading lower. According to MACD, which showed trend with a bearish bias, the commodity is likely to continue losing after successfully breaking below the support level. | R1 R2 | 1677.80 1695.25 | S1 S2 | 1660.90 1638.40 |
| 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.