Technical Analysis
Date: 31.10.2022
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 | While currently testing the resistance level, GBPUSD was trading higher. If the pair successfully breaks through the resistance level, the MACD, which showed decreasing bearish trend, suggests that its gains may be extended. | R1 R2 | 1.1635 1.1835 | S1 S2 | 1.1370 1.1165 |
EURUSD | Following a previous breakout below the prior support level, the EURUSD was traded lower. The pair may, however, be traded higher as a result of a technical correction, according to MACD, which showed declining bearish trend. | R1 R2 | 0.9990 1.0095 | S1 S2 | 0.9905 0.9810 |
USDJPY | Following a prior breakout above the prior resistance level, USDJPY was traded higher. The MACD indicator's decreasing bearish trend suggests that the pair will continue to gain. | R1 R2 | 150.25 152.80 | S1 S2 | 147.65 144.80 |
AUDUSD | As a result of a prior recovery from the support level, the AUDUSD was traded higher. The MACD indicator's decreasing bearish 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 indicator's decreasing bearish trend suggests that the pair will continue to gain. | R1 R2 | 0.5920 0.6015 | R1 R2 | 0.5805 0.5725 |
USDCAD | While currently testing the resistance level, USDCAD prices increased. If the pair successfully breaks through the resistance level, the MACD, which showed decreasing bearish trend, suggests that its gains may be extended. | R1 R2 | 1.3635 1.3820 | R1 R2 | 1.3455 1.3320 |
USDCHF | Following a prior breakout above the prior resistance level, USDCHF 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 | 1.0005 1.0105 | S1 S2 | 0.9930 0.9860 |
Crude Oil | Following a prior retracement from the resistance level, the price of Crude Oil was traded lower. The MACD, which showed a growing bearish trend, suggests that the commodity will continue to lose money. | R1 R2 | 89.00 92.50 | S1 S2 | 86.05 82.45 |
XAUUSD | Following a previous breakout below the previous support level, the price of Gold was traded lower. The commodity may, however, be traded higher as a result of a technical correction, according to MACD, which showed increasing bullish trend. | R1 R2 | 1648.45 1663.15 | S1 S2 | 1635.45 1624.30 |
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.