Technical Analysis (XAUUSD)

The Forex trading technical analysis for the price of gold (20th of October) reveals that it was around 1904.2 USD/Ounce early today. Under 1-hour-chart technical analysis, it rose sharply yesterday (19th), but pulled back after touching the resistance later. The candlestick is currently fluctuating below the middle Bollinger Band, so it is likely to pull back again after rebounding to resistance.

Currently, the short-swing upper resistance level lies between 1915.0~1917.0. The current support level lies between 1894.0~1896.0. Investors who wish to sell short could consider selling between 1906.0~1908.0 in the short-term and setting the stop loss above 1911.5.

Technical Analysis (EURUSD):

The price of EUR/USD (20th of October) was around 1.17663 early today. Under 1-hour-chart technical analysis, it surged under the influence of slump on US dollar. The candlestick is currently pulling back and lying below the middle Bollinger Band, so it is likely to keep falling.

Currently, the short-swing upper resistance level lies between 1.18000~1.18100. The current support level lies between 1.17300~1.17400. Investors who wish to sell short could consider selling between 1.17650~1.17750 in the short-term and setting the stop loss above 1.17850.

Technical Analysis (GBPUSD):

The price of GBP/USD (20th of October) was around 1.29398 early today. Under 1-hour-chart technical analysis, it rebounded sharply as predicted yesterday (19th), followed by a correction. The candlestick is currently lying below the middle Bollinger Band, so it is likely to continue the pullback.

Currently, the short-swing upper resistance level lies between 1.29800~1.29900. The current support level lies between 1.28800~1.28900. Investors who wish to sell short could consider selling between 1.29400~1.29500 in the short-term and setting the stop loss above 1.29600.

Technical Analysis (AUDUSD):

The price of AUD/USD (20th of October) was around 0.70628 early today. Under 1-hour-chart technical analysis, it plummeted after a small rally. The candlestick is currently lying between the lower and middle Bollinger Bands. The bands are facing downwards and expanding, so it is likely to continue the downward correction.

Currently, the short-swing upper resistance level lies between 0.70600~0.70650. The current support level lies between 0.70100~0.70150. Investors who wish to sell short could consider selling between 0.70450~0.70490 in the short-term and setting the stop loss above 0.70580.

Technical Analysis (USOUSD):

The price of USO/USD (20th of October) was around 40.49 this morning. Under 1-hour-chart technical analysis, it rose aggressively again yesterday, but made a retracement after reaching the resistance. The candlestick is currently lying between the lower and middle Bollinger Bands. The bands are facing downwards, so it is likely to continue the decline.

Currently, the short-swing upper resistance level lies between 40.90~41.00. The current support level lies between 39.80~39.90. Investors who wish to sell short could consider selling between 40.40~40.48 in the short-term and setting the stop loss above 40.63.

Technical Analysis (Nas100):

The NASDAQ (20th of October) was around 11717.4 this morning. Under 1-hour-chart technical analysis, it made a huge decline after rising to resistance as predicted yesterday (19th). The candlestick is currently lying between the lower and middle Bollinger Bands. The bands are facing downwards, so it is likely to continue dropping.

Currently, the short-swing upper resistance level lies between 11800.0~11820.0. The current support level lies between 11580.0~11600.0. Investors who wish to sell short could consider selling between 11730.0~11750.0 in the short-term and setting the stop loss above 11780.0.

Economic Calendar (20th of October)

(Source: https://www.investing.com/economic-calendar/)

	MT4 Server Time	Currency	Data	Importance
1	0:00	NZD	NZIER Business Confidence (Q3)	★★
2	2:00	AUD	RBA Assist Gov Kent Speaks	★★
3	3:30	AUD	RBA Meeting Minutes	★★★
4	4:30	CNY	PBoC Loan Prime Rate	★★★
5	9:00	EUR	German PPI (MoM) (Sep)	★★
6	12:30	GBP	MPC Member Vlieghe Speaks	★★
7	15:30	USD	Building Permits (Sep)	★★★
8	15:30	USD	Building Permits (MoM) (Sep)	★★
9	15:30	USD	Housing Starts (MoM) (Sep)	★★
10	15:30	USD	Housing Starts (Sep)	★★
11	16:00	USD	FOMC Member Williams Speaks	★★
12	16:00	RUB	Retail Sales (YoY)	★★
13	17:50	USD	FOMC Member Quarles Speaks	★★
14	18:00	NZD	GlobalDairyTrade Price Index	★★
15	19:00	RUB	GDP Monthly (YoY)	★★
16	20:38	RUB	Retail Sales (YoY) (Sep)	★★
17	20:38	RUB	Unemployment Rate (Sep)	★★
18	23:30	USD	API Weekly Crude Oil Stock	★★

(Importance: maximum three stars ★★★)

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