Technical Analysis
Date: 29.08.2022
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 has been trading lower and is currently testing the support level. The MACD, which showed increasing bearish trend, suggests that the pair will extend its losses if it successfully breaks through the support level. | R1 R2 | 1.1740 1.1820 | S1 S2 | 1.1660 1.1595 |
EURUSD | The EURUSD 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 | 0.9935 1.0005 | S1 S2 | 0.9860 0.9810 |
USDJPY | Following the previous breakout above the previous resistance level, the USDJPY was traded higher. MACD, which showed increasing bullish trend, suggests that the pair will extend its gains. | R1 R2 | 139.00 140.70 | S1 S2 | 137.55 136.50 |
AUDUSD | The AUDUSD was trading lower after breaking below the previous support level. MACD, which showed increasing bearish trend, suggests that the pair's losses will be extended. | R1 R2 | 0.6865 0.6930 | S1 S2 | 0.6780 0.6720 |
NZDUSD | NZDUSD was trading lower after breaking below the previous support level. MACD, which showed increasing bearish trend, suggests that the pair's losses will be extended. | R1 R2 | 0.6170 0.6270 | R1 R2 | 0.6085 0.6005 |
USDCAD | The USDCAD is currently trading higher while testing the resistance level. MACD, which showed increasing bullish trend, suggests that the pair will extend its gains if it successfully breaks through the resistance level. | 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. MACD, which showed increasing bullish trend, suggests that the pair will extend its gains. | R1 R2 | 0.9755 0.9840 | S1 S2 | 0.9680 0.9595 |
Crude Oil | The price of Crude Oil has risen and is currently testing the resistance level. The decreasing bearish trend indicated by the MACD suggests that the commodity will extend its gains if it successfully breaks through the resistance level. | R1 R2 | 94.40 97.90 | S1 S2 | 91.50 87.95 |
XAUUSD | The Gold price fell after a previous breakout below the previous support level. The decreasing bullish trend in the MACD suggests that the commodity's losses will be extended. | R1 R2 | 1731.55 1756.85 | S1 S2 | 1712.80 1693.65 |
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.