Technical Analysis
Date: 23.05.2022
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 breaking out over the previous ressitance level. MACD, which showed growing bullish trend, suggests that the pair will extend its gains. | R1 R2 | 1.2615 1.2710 | S1 S2 | 1.2535 1.2430 |
| EURUSD | The EURUSD has been trading higher and is presently challenging the ressitance level. MACD, which showed growing bullish trend, suggests that the pair would continue its gains if it successfully breaks through the resistance level. | R1 R2 | 1.0605 1.0685 | S1 S2 | 1.0500 1.0415 |
| USDJPY | The USDJPY has been trading downward and is presently challenging the support level. The MACD, which showed growing bearish trend, suggests that the pair would extend its losses if it successfully breaks through the support level. | R1 R2 | 128.00 129.05 | S1 S2 | 127.20 126.25 |
| AUDUSD | The AUDUSD was trading higher after breaking out over the previous resistance level. MACD, which showed growing bullish trend, suggests that the pair will extend its gains. | R1 R2 | 0.7155 0.7235 | R1 R2 | 0.7075 0.6995 |
| NZDUSD | NZDUSD was trading higher after breaking out over the previous barrier level. MACD, which showed growing bullish trend, suggests that the pair will extend its gains. | R1 R2 | 0.6500 0.6580 | R1 R2 | 0.6425 0.6350 |
| USDCAD | Following a previous retreat from the resistance level, USDCAD was traded lower. The declining bullish trend indicated by the MACD suggests that the pair's losses will be extended. | R1 R2 | 1.2875 1.2970 | S1 S2 | 1.2765 1.2635 |
| USDCHF | The USDCHF was trading downward after breaking below the last support level. However, the MACD, which showed diminishing bearish trend, suggests that the pair should be traded upward as a technical correction. | R1 R2 | 0.9740 0.9795 | S1 S2 | 0.9675 0.9595 |
| Crude Oil | Crude oil price was traded while currently testing the resistance level. MACD which illustrated increasing bullish trend suggest the commodity to extend its gains if successfully breakout the resistance level. | R1 R2 | 110.65 113.10 | S1 S2 | 107.50 104.35 |
| XAUUSD | Gold price was traded higher while currently testing the resistance level. MACD which illustrated increasing bullish trend suggest the commodity to extend its gains if successfully breakout the resistance level. | R1 R2 | 1851.70 1883.35 | S1 S2 | 1830.15 1798.35 |
| 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.