Technical Analysis
Date: 18.08.2022
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 has been trading lower and is currently testing the support level. The MACD, which showed increasing bearish trend, suggests that the pair will extend its losses after the breakout. | R1 R2 | 1.2125 1.2185 | S1 S2 | 1.2055 1.1975 |
| EURUSD | The EURUSD has been trading lower and is currently testing the support level. However, MACD, which shows diminishing bearish trend, suggests that the pair will trade higher as a technical correction. | R1 R2 | 1.0285 1.0365 | S1 S2 | 1.0155 1.0085 |
| USDJPY | The USDJPY has been trading higher and is currently testing the resistance level. MACD, which showed increasing bullish trend, suggests that the pair will extend its gains after the breakout. | R1 R2 | 135.30 137.30 | S1 S2 | 132.40 130.45 |
| AUDUSD | The AUDUSD has been trading lower and is currently testing the support level. However, MACD, which shows diminishing bearish trend, suggests that the pair will trade higher as a technical correction. | R1 R2 | 0.6990 0.7120 | S1 S2 | 0.6895 0.6805 |
| NZDUSD | NZDUSD was trading lower after breaking below the previous support level. However, MACD, which shows diminishing bearish trend, suggests that the pair will trade higher as a technical correction. | R1 R2 | 0.6340 0.6455 | R1 R2 | 0.6225 0.6070 |
| USDCAD | The USDCAD is currently trading higher while testing the resistance level. MACD, which showed increasing bullish trend, suggests that the pair will extend its gains after the breakout. | R1 R2 | 1.2950 1.3105 | R1 R2 | 1.2755 1.2645 |
| USDCHF | The USDCHF has been trading higher and is currently testing the resistance level. However, the MACD, which showed diminishing bullish trend, suggests that the pair should be traded lower as a technical correction. | R1 R2 | 0.9515 0.9635 | S1 S2 | 0.9410 0.9305 |
| Crude Oil | The price of Crude Oil has risen and is currently testing the resistance level. MACD, which indicated increasing bullish trend, suggests that the commodity will extend its gains following the breakout. | R1 R2 | 87.80 91.70 | S1 S2 | 84.10 79.05 |
| XAUUSD | The Gold price fell after a previous breakout below the previous support level. However, the MACD, which showed diminishing bearish trend, suggests that the commodity will trade higher as a technical correction. | R1 R2 | 1768.90 1783.30 | S1 S2 | 1754.50 1737.35 |
| 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.