Technical Analysis (XAUUSD)

The Forex trading technical analysis for the price of gold (19th of October) reveals that it was around 1899.9 USD/Ounces early today. Under 1-hour-chart technical analysis, it rebounded after a pullback as predicted last Friday (16th). The candlestick is currently falling again, lying between the middle and lower Bollinger Bands. The bands are facing downwards, so it is likely to continue dropping.

Currently, the short-swing upper resistance level lies between 1904.0~1907.0. The current support level lies between 1887.0~1890.0. Investors who wish to sell short could consider selling between 1898.0~1900.5 in the short-term and setting the stop loss above 1904.5.

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

Technical Analysis (EURUSD):

The price of EUR/USD (19th of October) was around 1.17179 early today. Under 1-hour-chart technical analysis, it rebounded as predicted last Friday (16th). The candlestick is currently pulling back again, lying fluctuating near the middle Bollinger Band. It is likely to fall again after breaking out the middle band.

Currently, the short-swing upper resistance level lies between 1.17400~1.17500. The current support level lies between 1.16800~1.16900. Investors who wish to sell short could consider selling between 1.17150~1.17250 in the short-term and setting the stop loss above 1.17350.

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

Technical Analysis (GBPUSD):

The price of GBP/USD (19th of October) was around 1.29055 early today. Under 1-hour-chart technical analysis, it rebounded sharply after touching the bottom line as predicted last Friday (16th), followed by a correction. The candlestick is currently lying above the middle Bollinger Band. The bands are facing upwards, so it is likely to continue rebounding.

Currently, the short-swing upper resistance level lies between 1.29800~1.29900. The current support level lies between 1.28700~1.28800.

Investors who wish to go long could consider buying between 1.29300~1.29380 in the short-term and setting the stop loss below 1.29150.

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

Technical Analysis (AUDUSD):

The price of AUD/USD (19th of October) was around 0.70742 early today. Under 1-hour-chart technical analysis, it rebounded as predicted last Friday (16th), followed by a pullback. The candlestick is currently lying above the middle Bollinger Band. It is likely to rebound again after a small retracement.

Currently, the short-swing upper resistance level lies between 0.71200~0.71300. The current support level lies between 0.70550~0.70650.

Investors who wish to go long could consider buying between 0.70850~0.70920 in the short-term and setting the stop loss below 0.70750.

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

Technical Analysis (USOUSD):

The price of USO/USD (19th of October) was around 40.49 this morning. Under 1-hour-chart technical analysis, it reversed sharply as predicted last Friday (16th). The candlestick is currently lying between the middle and upper Bollinger Bands. The bands are facing upwards, so it is likely to continue rising after a small retracement.

Currently, the short-swing upper resistance level lies between 41.20~41.30. The current support level lies between 40.00~40.10. Investors who wish to go long could consider buying between 40.50~40.60 in the short-term and setting the stop loss below 40.35.

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

Technical Analysis (Nas100):

The NASDAQ (19th of October) was around 11834.0 this morning. Under 1-hour-chart technical analysis, it rose slowly as predicted last Friday (16th). The candlestick is currently fluctuating slightly near the middle Bollinger Band. The bands are contracting, so it is likely to drop after dropping below the middle band.

Currently, the short-swing upper resistance level lies between 12020.0~12040.0. The current support level lies between 11620.0~11640.0. Investors who wish to sell short could consider selling between 11910.0~11930.0 in the short-term and setting the stop loss above 11970.0.

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

Economic Calendar (19th of October)

(Source: uk.investing.com)

 TimeCurrencyDataImportance
1.10:00CHYGDP (YoY) (Q3)★★★
2.20:30CADWholesale Sales (MoM) (Aug)★★
3.22:00USDNAHB Housing Market Index (Oct)

(Importance: maximum three stars ★★★)

Risk Warning!!!

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.