Technical Analysis (XAUUSD)

The Forex trading technical analysis for the price of gold (23rd of October) reveals that it was around 1904.0 USD/Ounce early today. Under 1-hour-chart technical analysis, it dropped sharply as predicted yesterday (22nd). The candlestick is currently rebounding to above the 5-days and 10-days moving average. It is likely to continue rebounding after lying above the middle Bollinger Band.

Currently, the short-swing upper resistance level lies between 1915.0~1918.0. The current support level lies between 1898.0~1901.0. Investors who wish to go long could consider buying between 1903.0~1905.0 in the short-term and setting the stop loss below 1900.5.

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

Technical Analysis (EURUSD):

The price of EUR/USD (23rd of October) was around 1.18196 early today. Under 1-hour-chart technical analysis, as USD index rebounded sharply as predicted yesterday (22nd), the euro plummeted. The candlestick is currently lying between the middle and lower Bollinger Bands. The bands are facing downwards. It is likely to drop again after rebounding to the resistance level.

Currently, the short-swing upper resistance level lies between 1.18200~1.18300. The current support level lies between 1.17600~1.17700. Investors who wish to sell short could consider selling between 1.18050~1.18150 in the short-term and setting the stop loss above 1.18280.

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

Technical Analysis (GBPUSD):

The price of GBP/USD (23rd of October) was around 1.30791 early today. Under 1-hour-chart technical analysis, as USD rebounded sharply as predicted yesterday (22nd), the British Pound plummeted. The candlestick is currently lying between the middle and lower Bollinger Bands. The bands are facing downwards. It is likely to continue falling.

Currently, the short-swing upper resistance level lies between 1.31200~1.31300. The current support level lies between 1.30200~1.30300.

Investors who wish to sell short could consider selling between 1.30750~1.30850 in the short-term and setting the stop loss above 1.31050.

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

Technical Analysis (AUDUSD):

The price of AUD/USD (23rd of October) was around 0.71127 early today. Under 1-hour-chart technical analysis, it rebounded again after a pullback yesterday (22nd). The candlestick is currently lying above the middle Bollinger Band. The bands are facing upwards, so it is likely to go up again after a pullback.

Currently, the short-swing upper resistance level lies between 0.71500~0.71600. The current support level lies between 0.70900~0.71000.

Investors who wish to go long could consider buying between 0.71150~0.71220 in the short-term and setting the stop loss below 0.71050.

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

Technical Analysis (USOUSD):

The price of USO/USD (23rd of October) was around 40.22 this morning. Under 1-hour-chart technical analysis, it rebounded from the bottom as predicted yesterday (22nd). The candlestick is currently lying between the middle and upper Bollinger Bands. The bands are facing upwards. It is likely to continue rebounding.

Currently, the short-swing upper resistance level lies between 41.10~41.20. The current support level lies between 39.60~39.70. Investors who wish to go long could consider buying between 40.20~40.35 in the short-term and setting the stop loss below 40.02.

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

Technical Analysis (Nas100):

The NASDAQ (23rd of October) was around 11684.5 this morning. Under 1-hour-chart technical analysis, it slumped as predicted yesterday (22nd). The candlestick is currently lying between the middle and upper Bollinger Bands. The bands are facing upwards. It is likely to rebound.

Currently, the short-swing upper resistance level lies between 11780.0~11800.0. The current support level lies between 11580.0~11600.0. Investors who wish to go long could consider buying between 11670.0~11690.0 in the short-term and setting the stop loss below 11640.0.

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

Economic Calendar (23rd of October)

(Source: uk.investing.com)

 TimeCurrencyDataImportance
1.00:01GBPGfK Consumer Confidence (Oct)
2.00:30JPYNational Core CPI (YoY) (Sep)★★
3.07:00GBPRetail Sales (MoM) (Sep)★★★
4.08:15EURFrench Manufacturing PMI (Oct)★★
5.08:30EURGerman Manufacturing PMI (Oct)★★★
6.09:00EURManufacturing PMI (Oct)★★
7.11:30GBPManufacturing PMI (Oct)★★
8.11:30GBPServices PMI (Oct)★★★
9.16:45USDManufacturing PMI (Oct)★★
10.16:45USDServices PMI (Oct)★★

(Importance: maximum three stars ★★★)

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