Technical Analysis
Date:08.12.2021
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 Levels |
|---|---|---|---|---|---|
| GBPUSD | The GBPUSD currency pair continues to move in a sideways pattern. However, MACD signals indicating bullish trend imply that the pair may trade higher in the near future, targeting the resistance of 1.3315. | R1 R2 | 1.3315 1.3430 | S1 S2 | 1.3195 1.3055 |
| EURUSD | EURUSD surged higher after a previous recovery from the 1.1275 support level. MACD, which displays a bullish trend in the shape of a golden cross, suggests that the pair will prolong its comeback towards the resistance level 1.1375. | R1 R2 | 1.1375 1.1455 | S1 S2 | 1.1275 1.1170 |
| USDJPY | USDJPY continues to trade in a sideways pattern after a recent retreat from resistance at 113.80. However, MACD's weakening positive momentum signal suggests that the pair may prolong its pullback in the near run towards support around 112.75. | R1 R2 | 113.80 114.60 | S1 S2 | 112.75 112.00 |
| AUDUSD | The AUDUSD pair has been trading higher after a recent breach over the previous resistance level of 0.7105. MACD indicators, which indicate an ongoing bullish trend signal, indicate that the pair is likely to continue its gains approaching the resistance level 0.7190. | R1 R2 | 0.7190 0.7260 | S1 S2 | 0.7105 0.7005 |
| NZDUSD | NZDUSD is now trading higher and is targeting the resistance level of 0.6815. The MACD indicator, which indicates a bullish trend, suggests that the pair will continue its gains until it breaks over the resistance level of 0.6815. | R1 R2 | 0.6815 0.6905 | S1 S2 | 0.6725 0.6630 |
| USDCAD | USDCAD has been trading downward and is presently challenging the 1.2615 support level. However, MACD's shrinking bearish trend signal indicates that the pair is due for a technical pullback towards the resistance level 1.2735. | R1 R2 | 1.2735 1.2865 | R1 R2 | 1.2615 1.2505 |
| USDCHF | USDCHF has been trading downward and is presently approaching the 0.9225 support level. MACD indicators that indicate dwindling bullish trend imply that the pair would continue its losses after a breach below the support level. | R1 R2 | 0.9300 0.9360 | R1 R2 | 0.9225 0.9145 |
| Crude Oil | Crude oil prices have been trading upward and are presently approaching the 72.10 barrier level. However, MACD signals indicating dwindling bullish trend imply that the pair may trade lower in a technical correction towards the support level 69.20. | R1 R2 | 72.10 75.25 | S1 S2 | 69.20 65.25 |
| XAUUSD | Gold price increased after an earlier recovery from the support level 1781.35. MACD signals indicating bullish trend predict the commodity may prolong its comeback toward the resistance level 1807.85. | R1 R2 | 1807.85 1831.50 | S1 S2 | 1781.35 1748.55 |
| Instrument | Description ( H4 Timeframe ) | R | Resistance levels | S | Support Levels |
⊗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.