Technical Analysis
Date:28.10.2021
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 | The GBPUSD stayed unchanged as it approached the resistance level of 1.3755, where it is now trading. After it breaks through the barrier, the MACD, which shows a decreasing bearish trend signal, suggests that the pair will be traded upward. | R1 R2 | 1.3755 1.3880 | S1 S2 | 1.3650 1.3555 |
| EURUSD | At the time of writing, the EURUSD pair was trading flat against a resistance level of 1.1615. In contrast, the MACD shows a fading bearish trend signal with the beginning construction of a golden cross, suggesting that the pair should be traded upward until it breaks through the resistance level. | R1 R2 | 1.1615 1.1680 | S1 S2 | 1.1530 1.1455 |
| USDJPY | The USDJPY was trading lower as it approached the support level of 113.20, where it is presently resting. A death cross on the MACD indicates a bearish trend signal, which suggests that the pair will continue to fall when it falls below the support line. | R1 R2 | 114.60 115.85 | S1 S2 | 113.20 112.00 |
| AUDUSD | AUDUSD stayed unchanged as it approached the support level of 0.7485. Nevertheless, the MACD, which shows a bearish trend signal with the development of a death cross, suggests that the pair will continue its losses when it falls below the support level | R1 R2 | 0.7565 0.7660 | S1 S2 | 0.7485 0.7410 |
| NZDUSD | NZDUSD has been trading flat and is presently probing the 0.7155 support level. However, MACD signals indicating declining bearish trend imply that the pair should be traded upward approaching the resistance level 0.7230. | R1 R2 | 0.7230 0.7300 | S1 S2 | 0.7155 0.7080 |
| USDCAD | USDCAD is continuing to trade in a sideways pattern. However, MACD signals indicating a bearish bias and the development of a death cross indicate that the pair should be traded down towards the support level 1.2295. | R1 R2 | 1.2410 1.2500 | S1 S2 | 1.2295 1.2200 |
| USDCHF | USDCHF moved down after a previous retreat from the 0.9215 barrier level. MACD, which exhibits bearish trend and the development of a death cross, suggests that the pair will prolong its regression towards the support level 0.9140. | R1 R2 | 0.9215 0.9295 | S1 S2 | 0.9140 0.9080 |
| Crude Oil | Crude oil prices have been trading down and are presently testing at the 79.35 support level. MACD signals indicating bearish trend imply the commodity may extend its losses if it falls below the support level. | R1 R2 | 84.55 88.40 | S1 S2 | 79.35 75.85 |
| XAUUSD | Gold prices increased after an earlier bounce from the 1781.40 support level. The MACD indicator, which indicates lessening bearish trend, suggests that the commodity will prolong its bounce near the resistance of 1812.80. | R1 R2 | 1812.80 1831.50 | S1 S2 | 1781.40 1748.55 |
| 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.