Technical Analysis
Date: 31.01.2022
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 Levels |
|---|---|---|---|---|---|
| GBPUSD | The GBP/USD pair is now trading in a range of $1.3385-1.3450, close to a five-week low. On the hourly level, the pair is trading below the moving average line MA (200) H1 (1,3505) and below the MA (200) H4 (1,3480) on the four-hour chart. In this environment, additional declines in the GBP / USD pair are probable. Identifying a sell position might be a prudent move for individuals looking to profit from a rising US currency. | R1 R2 | 1.3450 1.3505 | S1 S2 | 1.3335 1.3240 |
| EURUSD | Today, the EUR/USD pair is trading within a tight range of 1.1140-85 - close to last week's June 2020 lows of 1.1120. EUR/USD has fallen below the MA (200) H1 moving average line (1.1270) on the hourly chart. On the four-hour chart, the situation is similar. In this scenario, the EUR/USD pair is expected to continue its slide. Identifying a sell position might be a prudent move for individuals looking to profit from a rising US currency. | R1 R2 | 1.1185 1.1245 | S1 S2 | 1.1110 1.1070 |
| USDJPY | On Friday, the USD/JPY moved in a range of 115.10-65 and ended the day unchanged. Today, it increased slightly to 115.60. USD/JPY is continuing trading above the moving average line MA (200) on the hourly chart (114.35). On the four-hour chart, the situation is similar. According to the preceding, it is probably prudent to trade in the north direction, and while the USD/JPY continues above the MA 200 H1, it may be essential to seek for entry opportunities to purchase in anticipation of the formation of a correction. | R1 R2 | 115.65 115.85 | S1 S2 | 115.10 114.45 |
| AUDUSD | The AUD/USD moved downward on Friday and ended the day in the red around 0.6995. Today, it increased marginally to 0.7015, remaining around the July 2020 lows. AUD/USD is continuing trading below the MA (200) H1 moving average line (0.7140) on the hourly chart. On the four-hour chart, the situation is similar. According to the above, it is probably worthwhile to trade in the south direction, and as long as the AUD/USD continues below MA 200 H1, it may be essential to hunt for entry opportunities to sell in anticipation of the formation of a correction. | R1 R2 | 0.7045 0.7100 | S1 S2 | 0.6965 0.6900 |
| NZDUSD | Today, the NZD/USD pair is trading in the 0.6540-85 region, close to the end-of-September 2020 low. The pair fell below the MA (200) H1 moving average line (0.6680) on the hourly chart. On the four-hour chart, the situation is similar. In this scenario, additional declines in the NZD/USD pair are probable, and establishing a sell position may be prudent. | R1 R2 | 0.6590 0.6680 | S1 S2 | 0.6530 0.6510 |
| USDCAD | The USD/CAD moved higher on Friday and ended the day in positive territory at the 1.2765 level. Today, it slipped slightly, to 1.2730. USD/CAD is continuing trading above the MA (200) H1 moving average line (1.2605) on the hourly chart. On the four-hour chart, the situation is similar. According to the preceding, it is probably prudent to trade in the north direction, and while the USD/CAD continues above the MA 200 H1, it may be essential to seek for entry opportunities to purchase in anticipation of the formation of a correction. | R1 R2 | 1.2795 1.2850 | S1 S2 | 1.2650 1.2555 |
| USDCHF | Today, the USD/CHF pair is mostly trading higher in the area of 0.9300-40, having reached a fresh two-month high. The pair has risen above the MA (200) H1 moving average line on the hourly chart (0.9205). On the four-hour chart, the situation is similar. In this scenario, the USD/CHF pair is expected to continue growing. Identifying a purchase position might be a prudent move for individuals looking to profit from a rising US currency. | R1 R2 | 0.9340 0.9360 | S1 S2 | 0.9290 0.9205 |
| Crude Oil | Crude oil price tried to break above the 88.00 barrier but came up short at 88.80, before reversing bearishly and testing the 87.00 level once again, indicating that the price has resumed positive trades to support the continuation of the major bullish trend, with its next goal at 90.00. The bullish channels arrange the indicated bullish waves, which are sustained by the EMA50, while staying above 86.75 is critical for its continuation, as a breach of this level would likely push the price down to 85.05 before attempting to rise again. | R1 R2 | 89.5 94.00 | S1 S2 | 87.75 67.77 |
| XAUUSD | Gold price fells for the fourth consecutive day, reestablishing an intraday low at 1,786 ahead of Monday's European session. Thus, the yellow metal fails to applaud the US dollar's retreat, as US Treasury rates remain steady and stock futures fail to extend Friday's rally. The cause might be the market's hesitation ahead of the Federal Reserve's (Fed) meeting in March, as well as this week's US employment data. It is worth noting that geopolitical concerns about Russia contribute to the risk-off sentiment and sink gold prices, so justifying the technically negative confirmation. | R1 R2 | 1800 1820 | S1 S2 | 1770 1750 |
| 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.