Technical Analysis (XAUUSD)

The Forex trading technical analysis indicates that the price of gold (8th of October) was around 1887.7 USD/Ounces early today. Under 1-hour-chart technical analysis, it rebounded sharply from the bottom as predicted yesterday (7th). The candlestick is currently forming a symmetrical triangle after rebounding to the resistance level. It is likely to tumble again after dropping below the support level of the symmetrical triangle.

Currently, the short-swing upper resistance level lies between 1898.0~1900.0. The current support level lies between 1870.0~1872.0. Investors who wish to sell short could consider selling between 1885.0~1887.0 in the short-term and setting the stop loss above 1890.5.

Forex Trading Market Analysis for Gold
Forex Trading Market Analysis for Gold

Technical Analysis (EURUSD):

The price of EUR/USD (8th of October) was around 1.17633 early today. Under 1-hour-chart technical analysis, it rebounded sharply from the bottom as predicted yesterday (7th). The candlestick is currently fluctuating slightly near the middle Bollinger Band after a pullback. It is likely to decline.

Currently, the short-swing upper resistance level lies between 1.17900~1.18000. The current support level lies between 1.17200~1.17300. Investors who wish to sell short could consider selling between 1.17600至1.17680 in the short-term and setting the stop loss above 1.17800.

Forex Trading Technical Analysis for EURUSD
Forex Trading Technical Analysis for EURUSD

Technical Analysis (GBPUSD):

The price of GBP/USD (8th of October) was around 1.29117 early today. Under 1-hour-chart technical analysis, it rebounded from the bottom as predicted yesterday (7th). The candlestick is currently lying between the middle and upper Bollinger Bands, with the bands facing upwards, it is likely to continue rebounding.

Currently, the short-swing upper resistance level lies between 1.29600~1.29700. The current support level lies between 1.28800~1.28900.

Investors who wish to go long could consider buying between 1.29150~1.29250 in the short-term and setting the stop loss below 1.29000.

Forex Trading Technical Analysis for GBPUSD
Forex Trading Technical Analysis for GBPUSD

Technical Analysis (AUDUSD):

The price of AUD/USD (8th of October) was around 0.71369 early today. Under 1-hour-chart technical analysis, it rebounded from the bottom yesterday (7th). The candlestick is currently lying near the middle Bollinger Band making small fluctuation, with the bands facing downwards, it is likely to drop again after rebounding to the resistance level.

Currently, the short-swing upper resistance level lies between 0.71650~0.71700. The current support level lies between 0.70950~0.71000.

Investors who wish to sell short could consider selling between 0.71400~0.71480 in the short-term and setting the stop loss above 0.71560.

Forex Trading Technical Analysis for AUDUSD
Forex Trading Technical Analysis for AUDUSD

Technical Analysis (USOUSD):

The price of USO/USD (8th of October) was around 39.76 this morning. Under 1-hour-chart technical analysis, it rebounded from the bottom after a pullback yesterday (7th). The candlestick is currently lying between the middle and upper Bollinger Bands, with the bands continuing to face upwards, it is likely to rebound accordingly.

Currently, the short-swing upper resistance level lies between 40.70~40.80. The current support level lies between 39.00~39.10. Investors who wish to go long could consider buying between 39.80~39.90 in the short-term and setting the stop loss below 39.65.

Forex Trading Technical Analysis for US Oil
Forex Trading Technical Analysis for US Oil

Technical Analysis (Nas100):

The NASDAQ (8th of October) was around 11486.7 this morning. Under 1-hour-chart technical analysis, due to the US president Trump’s statement yesterday (7th), the candlestick rallied from the bottom. It is currently fluctuating slightly after surging to the resistance level. It is likely to pull back from high.

Currently, the short-swing upper resistance level lies between 11580.0~11600.0. The current support level lies between 11450.0~11470.0. Investors who wish to sell short could consider selling between 11540.0~11560.0 in the short-term and setting the stop loss above 11590.0.

Forex Trading Market Analysis for NASDAQ
Forex Trading Market Analysis for NASDAQ

Economic Calendar (8th of October)

(Source: uk.investing.com)

 TimeCurrencyDataImportance
1.07:50JPYCurrent Account n.s.a. (Aug)★★
2.13:45CHFUnemployment Rate n.s.a. (Sep)★★
3.14:00EURGerman Current Account Balance n.s.a. (Aug)
4.14:00EURGerman Trade Balance★★
6.20:30USDInitial Jobless Claims★★★
7.22:30USDNatural Gas Storage

(Importance: maximum three stars ★★★)

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