Technical Analysis
Date:12.10.2021
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 | Following a recent pullback from the resistance of 1.3620, the GBPUSD moved lower. MACD indicators that indicate a bearish trend signal imply that the pair will continue its retreat towards support at 1.3435. | R1 R2 | 1.3620 1.3745 | S1 S2 | 1.3435 1.3300 |
| EURUSD | EURUSD was trading flat around the 1.1515 support level. However, MACD signals indicating diminishing bullish trend and the beginning of the death cross formation suggest that the pair will extend its losses if it breaks below the support level. | R1 R2 | 1.1610 1.1690 | S1 S2 | 1.1515 1.1440 |
| USDJPY | USDJPY has been trading higher and is now testing resistance around 113.40. However, MACD signals indicating dwindling bullish trend indicate that the pair should be traded down in a technical correction towards the support level 112.60. | R1 R2 | 113.40 113.95 | S1 S2 | 112.60 112.05 |
| AUDUSD | The AUDUSD has been trading downward and is now challenging the support level of 0.7320. MACD indicators that indicate dwindling bullish trend imply that the pair may continue its losses after a breach below the support level. | R1 R2 | 0.7415 0.7485 | S1 S2 | 0.7320 0.7235 |
| NZDUSD | NZDUSD moved lower after a pullback from its previous peak. MACD indicators that indicate dwindling bullish trend imply that the pair may continue its pullback towards the support level 0.6880. | R1 R2 | 0.6990 0.7075 | S1 S2 | 0.6880 0.6805 |
| USDCAD | USDCAD moved higher after a previous recovery from the 1.2455 support level. The MACD indicator, which displays a bullish momentum signal in the shape of a golden cross, suggests that the pair will continue its recovery towards the resistance level 1.2585. | R1 R2 | 1.2585 1.2695 | S1 S2 | 1.2455 1.2310 |
| USDCHF | The USDCHF currency pair continues to move in a sideways pattern. Due to the absence of momentum and a clear direction from MACD, it is recommended to avoid joining the market until further signals emerge. | R1 R2 | 0.9305 0.9365 | S1 S2 | 0.9240 0.9185 |
| Crude Oil | Crude oil has been trading downward and is now targeting the 79.40 support level. MACD signals indicating decreasing bullish trend in conjunction with the initiation of a death cross indicate the commodity will continue its decline towards support at 79.40. | R1 R2 | 82.50 84.55 | S1 S2 | 79.40 76.40 |
| XAUUSD | The gold price remained stable around the support level of 1747.05. Due to the absence of momentum and a clear direction from MACD, it is recommended to avoid joining the market until further signals emerge. | R1 R2 | 1779.50 1806.85 | S1 S2 | 1747.05 1721.65 |
| 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.