Technical Analysis (XAUUSD)

The price of gold (21st of October) was around 1908.3 USD/Ounce early today. Under 1-hour-chart technical analysis, it rebounded sharply after a pullback yesterday (20th). The candlestick is currently lying between the middle and upper Bollinger Bands. The bands are facing upwards and expanding, so it is likely to continue rebounding.

Currently, the short-swing upper resistance level lies between 1919.0~1921.0. The current support level lies between 1900.0~1902.0. Investors who wish to go long could consider buying between 1912.0~1914.0 in the short-term and setting the stop loss below 1908.5.

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Technical Analysis (EURUSD):

The price of EUR/USD (21st of October) was around 1.18223 early today. Under 1-hour-chart technical analysis, it continued to drop sharply because of the plummet on US dollar index yesterday (20th), driving the euro to break out the swing high. The candlestick is currently fluctuating slightly after a rise. It is likely to pull back from high.

Currently, the short-swing upper resistance level lies between 1.18500~1.18600. The current support level lies between 1.17900~1.18000. Investors who wish to sell short could consider selling between 1.18350~1.18450 in the short-term and setting the stop loss above 1.18550.

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Technical Analysis (GBPUSD):

The price of GBP/USD (21st of October) was around 1.29416 early today. Under 1-hour-chart technical analysis, it rebounded again after a pullback yesterday (20th). The candlestick is currently maintaining the bullish pattern, but the Bollinger Bands haven’t been expanded yet, so it is likely to pullback from high.

Currently, the short-swing upper resistance level lies between 1.30000~1.30100. The current support level lies between 1.29000~1.29100.

Investors who wish to sell short could consider selling between 1.29800~1.29900 in the short-term and setting the stop loss above 1.30050.

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Technical Analysis (AUDUSD):

The price of AUD/USD (21st of October) was around 0.70628 early today. Under 1-hour-chart technical analysis, it continued to move downwards as predicted yesterday (20th). The candlestick is currently rebounding from the bottom, so it is likely to drop again after rebounding to the resistance level.

Currently, the short-swing upper resistance level lies between 0.71000~0.71100. The current support level lies between 0.70200~0.70300.

Investors who wish to sell short could consider selling between 0.70850~0.70900 in the short-term and setting the stop loss above 0.70980.

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Technical Analysis (USOUSD):

The price of USO/USD (21st of October) was around 40.78 this morning. Under 1-hour-chart technical analysis, it pulled back after failing to surge as predicted yesterday (20th). The candlestick is currently fluctuating continuously at the high point, so it is likely to move downwards after dropping below the middle band.

Currently, the short-swing upper resistance level lies between 41.40~41.50. The current support level lies between 40.20~40.30. Investors who wish to sell short could consider selling between 41.00~41.10 in the short-term and setting the stop loss above 41.25.

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Technical Analysis (Nas100):

The NASDAQ (21st of October) was around 11690.1 this morning. Under 1-hour-chart technical analysis, it continued to drop as predicted yesterday (20th), then there was a small retracement from the bottom. The Bollinger Bands are currently contracting, so it is likely to drop again after rebounding to the resistance level.

Currently, the short-swing upper resistance level lies between 11820.0~11840.0. The current support level lies between 11580.0~11600.0. Investors who wish to sell short could consider selling between 11740.0~11760.0 in the short-term and setting the stop loss above 11790.0.

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Economic Calendar (21st of October)

(Source: uk.investing.com)

 TimeCurrencyDataImportance
1.07:00GBPCPI (MoM) (Sep)★★
2.07:00GBPRPI (MoM) (Sep)
3.13:30CADCPI (MoM) (Sep)★★
4.13:30CADRetail Sales (MoM) (Aug)★★
5.15:30USDEIA Refinery Crude Runs (WoW)

(Importance: maximum three stars ★★★)

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