Technical Analysis
Date: 31.05.2022
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 is now trading lower while challenging the upward trendline. The MACD indicator, which shows a bearish bias trend, suggests that the pair may extend its losses after effectively breaking below the upward trendline. | R1 R2 | 1.2700 1.2825 | S1 S2 | 1.2585 1.2425 |
| EURUSD | The EURUSD was trading lower after retracing from the resistance level of 1.0770. MACD, which showed bearish bias trend, suggests that the pair may extend its decline into the 1.0695 support level. | R1 R2 | 1.0770 1.0660 | S1 S2 | 1.0695 1.0640 |
| USDJPY | The USDJPY was trading higher after previously rebounding from the support level of 126.95. The MACD indicator, which showed diminishing bearish trend, suggests that the pair will extend its advances into the resistance level at 128.80. | R1 R2 | 128.80 131.35 | S1 S2 | 126.95 125.05 |
| AUDUSD | The AUDUSD was trading higher after breaking over the previous resistance level at 0.7120. The bullish trend indicated by MACD suggests that the pair will continue its advances approaching the resistance level at 0.7260. | R1 R2 | 0.7260 0.7345 | R1 R2 | 0.7120 0.7035 |
| NZDUSD | NZDUSD is now trading higher, testing the resistance level around 0.6545. The MACD indicator, which showed a bullish bias trend, suggests that the pair will extend its gains after successfully breaking over the resistance level at 0.6545. | R1 R2 | 0.6545 0.6635 | R1 R2 | 0.6430 0.6365 |
| USDCAD | USDCAD was trading higher after previously rebounding from the 1.2660 support level. MACD, which showed diminishing bearish trend, suggests that the pair will extend its comeback into the 1.2715 resistance level. | R1 R2 | 1.2715 1.2775 | S1 S2 | 1.2660 1.2590 |
| USDCHF | The USDCHF is now trading higher, testing the resistance level of 0.9590. The MACD indicator, which showed diminishing bearish trend, suggests that the pair will continue its gains after successfully breaking above the resistance level. | R1 R2 | 0.9590 0.9665 | S1 S2 | 0.9520 0.9450 |
| Crude Oil | Crude oil prices rose after breaking over the previous resistance level at 116.50. The MACD, which showed bullish momentum, suggests that the commodity will continue its gains toward the resistance level of 119.00. | R1 R2 | 119.00 123.65 | S1 S2 | 116.50 113.50 |
| XAUUSD | The Gold price is presently challenging the support level of 1850.00, and the MACD, which shows a bearish bias, suggests that the commodity will extend its losses if it successfully breaks below the support level. | R1 R2 | 1871.65 1893.40 | S1 S2 | 1850.00 1830.00 |
| 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.