Technical Analysis (XAUUSD)

The Forex trading technical analysis for the price of gold (22nd of October) revealed that it was around 1924.5 USD/Ounce early today. Under 1-hour-chart technical analysis, it surged again as predicted yesterday (21st). The candlestick is currently pulling back from high and lying below the middle Bollinger Band. The bands are facing downwards, so it is likely to go down again after rebounding to the resistance level.

Currently, the short-swing upper resistance level lies between 1921.0~1924.0. The current support level lies between 1901.0~1904.0. Investors who wish to sell short could consider selling between 1917.0~1919.0 in the short-term and setting the stop loss above 1921.5.

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

Technical Analysis (EURUSD):

The price of EUR/USD (22nd of October) was around 1.18606 early today. Under 1-hour-chart technical analysis, as US dollar index strengthened its bearish momentum yesterday (21st), the euro continued to set a new high. The candlestick is currently pulling back from high and lying below the middle Bollinger Band, so it is likely to go down again after rebounding to the resistance level.

Currently, the short-swing upper resistance level lies between 1.18600~1.18700. The current support level lies between 1.18100~1.18200. Investors who wish to sell short could consider selling between 1.18400~1.18480 in the short-term and setting the stop loss above 1.18600.

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

Technical Analysis (GBPUSD):

The price of GBP/USD (22nd of October) was around 1.31414 early today. Under 1-hour-chart technical analysis, as US dollar index plummeted yesterday (21st), the pound skyrocketed. The candlestick is currently fluctuating at high. It is likely to pull back from the top.

Currently, the short-swing upper resistance level lies between 1.31650~1.31750. The current support level lies between 1.30650~1.30750.

Investors who wish to sell short could consider selling between 1.31250~1.31350 in the short-term and setting the stop loss above 1.31450.

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

Technical Analysis (AUDUSD):

The price of AUD/USD (22nd of October) was around 0.71116 early today. Under 1-hour-chart technical analysis, it continued to rebound yesterday (21st). The candlestick is currently dropping below the middle Bollinger Bands. The bands are also facing downwards, so it is likely to drop again after rebounding to the resistance level.

Currently, the short-swing upper resistance level lies between 0.71100~0.71200. The current support level lies between 0.70200~0.70300.

Investors who wish to sell short could consider selling between 0.70950~0.71000 in the short-term and setting the stop loss above 0.71080.

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

Technical Analysis (USOUSD):

The price of USO/USD (22nd of October) was around 39.61 this morning. Under 1-hour-chart technical analysis, it reversed sharply after failing to surge as predicted yesterday (21st). the candlestick is currently fluctuating slightly in the lower section. It is likely to rebound from the bottom.

Currently, the short-swing upper resistance level lies between 40.30~40.40. The current support level lies between 39.00~39.10. Investors who wish to go long could consider buying between 39.25~39.35 in the short-term and setting the stop loss below 39.15.

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

Technical Analysis (Nas100):

The NASDAQ (22nd of October) was around 11692.1 this morning. Under 1-hour-chart technical analysis, it dropped again as predicted yesterday (21st). The candlestick is currently lying between the middle and lower Bollinger Bands. The bands are facing downwards, so it is likely to fall again after rebounding to the resistance level.

Currently, the short-swing upper resistance level lies between 11710.0~11730.0. The current support level lies between 11540.0~11560.0. Investors who wish to sell short could consider selling between 11640.0~11660.0 in the short-term and setting the stop loss above 11700.0.

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

Economic Calendar (22nd of October)

(Source: uk.investing.com)

 TimeCurrencyDataImportance
1.07:00EURGfk German Consumer Climate (Nov)★★
2.11:00GBPCBI Industrial Trends Orders (Oct)★★
3.13:30USDInitial Jobless Claims★★★
4.15:00USDExisting Home Sales (Sep)★★★
5.15:00USDConsumer Confidence (Oct)
6.15:30USDNatural Gas Storage

(Importance: maximum three stars ★★★)

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