Technical Analysis (XAUUSD)

The Forex Trading Technical Analysis for the price of gold (12th of October) reveals that it was around 1927.4 USD/Ounces early today. Under 1-hour-chart technical analysis, the prices skyrocketed last Friday (9th). The candlestick is currently fluctuating at the high point. It is likely to fall after dropping below the support level of the middle Bollinger Band.

Currently, the short-swing upper resistance level lies between 1930.0~1932.0. The current support level lies between 1913.0~1915.0. Investors who wish to sell short could consider selling between 1925.0~1927.0 in the short-term and setting the stop loss above 1930.5.

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

Technical Analysis (EURUSD):

The price of EUR/USD (12th of October) was around 1.18137 early today. Under 1-hour-chart technical analysis, As U.S. dollar continued to decline last Friday (9th), the euros skyrocketed. In the meantime, it spiked the trend at the high point. The candlestick is currently lying at the high point fluctuating slightly. It is likely to downtrend sharply after dropping below the support level of the middle Bollinger Band.

Currently, the short-swing upper resistance level lies between 1.18250~1.18350. The current support level lies between 1.17850~1.17950. Investors who wish to sell short could consider selling between 1.18150~1.18200 in the short-term and setting the stop loss above 1.18330.

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

Technical Analysis (GBPUSD):

The price of GBP/USD (12th of October) was around 1.30269 early today. Under 1-hour-chart technical analysis, the U.S. index plummeted last Friday (9th), leading the euros Pounds to rise. The candlestick is currently fluctuating slightly aroundfrom the high point. It is likely to pull back.

Currently, the short-swing upper resistance level lies between 1.30500~1.30600. The current support level lies between 1.29800~1.29900.

Investors who wish to sell short could consider selling between 1.30280~1.30350 in the short-term and setting the stop loss above 1.30500.

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

Technical Analysis (AUDUSD):

The price of AUD/USD (12th of October) was around 0.72267 early today. Under 1-hour-chart technical analysis, the candlestick soared and broke out the upper the high point. It is currently lying near the middle Bollinger Band and it is likely to continue dropping after dropping below the support level of the middle band.

Currently, the short-swing upper resistance level lies between 0.72400~0.72450. The current support level lies between 0.71850~0.71900.

Investors who wish to sell short could consider selling between 0.72250~0.72300 in the short-term and setting the stop loss above 0.72390.

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

Technical Analysis (USOUSD):

The price of USO/USD (12th of October) was around 40.30 this morning. Under 1-hour-chart technical analysis, the candlestick is pulled back after surging, it also dropped below the ascending support trendline. It is currently lying between the middle and lower Bollinger Bands, and it is likely to go down again after rebounding to the resistance level.

Currently, the short-swing upper resistance level lies between 41.15~41.25. The current support level lies between 39.20~39.30. Investors who wish to sell short could consider selling between 40.30~40.40 in the short-term and setting the stop loss above 40.55.

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

Technical Analysis (Nas100):

The NASDAQ (12th of October) was around 11734.8 this morning. Under 1-hour-chart technical analysis, the U.S. stocks rallied skyrocketed after due the approval progress onof the US stimulus package from since last Thursday (8th). The candlestick is currently fluctuating slightly at the high point. Therefore, it is likely to pull back from high.

Currently, the short-swing upper resistance level lies between 11800.0~11820.0. The current support level lies between 11650.0~11670.0. Investors who wish to sell short could consider selling between 11770.0~11785.0 in the short-term and setting the stop loss above 11810.0.

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

Economic Calendar (12th of October)

(Source: uk.investing.com)

TimeCurrencyDataImportance
1.N/ACNYFDI – Foreign Direct Investment (YTD) (YoY)(Sep) ★★
2.11:454′EURECB’s Schnabel speech ★★
3.14:00EURECB’s President Lagarde speech ★★★
4.17:00GBPBoE’s Haskel speech ★★
5.18:00EURECB’s De Guindos speech ★★
6.19:00GBPBoE’s Governor Bailey speech ★★★
7.19:45EURECB’s Panetta speech ★★
8.23:00NZDREINZ House Price Index (MoM)(Sep) ★★

 (Importance: maximum three stars ★★★)

The views or opinions as expressed in the above article represent the personal views or opinions of the author and do not represent those of IV Markets Limited (“IV Markets”). IV Markets has no obligation to independently check or verify the author of the article and the information provided in the article. Accordingly, IV MARKETS does not take responsibility for such article.

This material is for general information purposes only and is not intended as (and should not be considered to be) financial, investment or other advice on which reliance should be placed. IV Markets is not authorized to provide investment advice. No opinion given in the material constitutes a recommendation by IV Markets or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.

Trading with IV Markets can result in losses that exceed your deposits. Consumers should ensure they understand the risk and seek independent financial advice if necessary.

IV Markets is designed for clients to trade in the forex market, it is regulated by the Seychelles Financial Authority (FSA), license number: SD049.