Technical Analysis
Date: 06.05.2022
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 was trading higher after previously rebounding from the 1.2320 support level. The MACD indicator, which showed diminishing bearish trend, suggests that the pair will continue its advances into the resistance level at 1.2425. | R1 R2 | 1.2425 1.2585 | S1 S2 | 1.2320 1.2235 |
| EURUSD | The EURUSD was trading downward after a previous pullback at the resistance level of 1.0560. The MACD, which displayed a death cross signal, suggests that the pair may continue its losses into the 1.0490 support level. | R1 R2 | 1.0560 1.0640 | S1 S2 | 1.0490 1.0445 |
| USDJPY | The USDJPY is now challenging the resistance level of 130.95, and the MACD, which shows a bullish trend, suggests that the pair will extend its gains following the breakthrough. | R1 R2 | 130.95 133.15 | S1 S2 | 128.85 126.85 |
| AUDUSD | The AUDUSD has been trading downward and is presently challenging the support level of 0.7100. The MACD indicator, which shows a bearish bias in trend, suggests that the pair may continue its losses after successfully breaking below the support level. | R1 R2 | 0.7140 0.7180 | R1 R2 | 0.7100 0.7055 |
| NZDUSD | The NZDUSD has been trading higher and is presently challenging the resistance level. However, MACD, which showed bearish bias trend, suggests that the pair will see a technical correction in the near future. | R1 R2 | 0.6430 0.6520 | R1 R2 | 0.6365 0.6305 |
| USDCAD | The USDCAD is now trading higher, testing the resistance level around 1.2835. The MACD indicator, which displayed a golden cross signal, suggests that the pair will continue its gains when its candle successfully closes above the resistance level. | R1 R2 | 1.2835 1.2910 | S1 S2 | 1.2785 1.2715 |
| USDCHF | Following a previous comeback from the support level, the USDCHF was traded higher. The MACD indicator, which showed growing bullish trend, suggests that the pair will continue its advances approaching the resistance level of 0.9890. | R1 R2 | 0.9890 0.9950 | S1 S2 | 0.9825 0.9725 |
| Crude Oil | The price of Crude oil has risen and is presently challenging the resistance level. However, the MACD, which showed falling bullish trend, suggests that the commodity may see a technical correction in the near term. | R1 R2 | 109.05 113.55 | S1 S2 | 99.50 93.75 |
| XAUUSD | The Gold price rose while retesting the prior support level of 1879.05. However, the MACD, which showed falling bullish trend, suggests that the commodity may see a technical correction in the near term. | R1 R2 | 1879.05 1906.40 | S1 S2 | 1850.00 1829.35 |
| 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.