Technical Analysis (XAUUSD)

The Forex trading technical analysis for the price of gold (26th of October) reveals that it was around 1893.3 USD/Ounce early today. Under 1-hour-chart technical analysis, it rebounded as predicted last Friday (23rd), followed by a sharp reverse. The candlestick is currently lying between the middle and lower Bollinger Bands. The bands are facing downwards. It is likely to rebound and touch the resistance level.

Currently, the short-swing upper resistance level lies between 1908.0~1910.0. The current support level lies between 1890.0~1892.0. Investors who wish to sell short could consider selling between 1902.0~1904.0 in the short-term and setting the stop loss above 1906.5.

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

Technical Analysis (EURUSD):

The price of EUR/USD (26th of October) was around 1.18414 early today. Under 1-hour-chart technical analysis, it rebounded after touching the bottom last Friday (23rd). The candlestick is currently pulling back below the middle Bollinger Band after failing to surge. 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 1.18650~1.18750. The current support level lies between 1.17850~1.17950. Investors who wish to sell short could consider selling between 1.18400~1.18500 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 (26th of October) was around 1.30421 early today. Under 1-hour-chart technical analysis, it reversed sharply as predicted last Friday (23rd). 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 1.30700~1.30800. The current support level lies between 1.29700~1.29800.

Investors who wish to sell short could consider selling between 1.30350~1.30450 in the short-term and setting the stop loss above 1.30600.

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

Technical Analysis (AUDUSD):

The price of AUD/USD (26th of October) was around 0.71157 early today. Under 1-hour-chart technical analysis, it pulled back after a surge last Friday (23rd). The candlestick is currently lying near the middle Bollinger Band. The bands are facing upwards continuously. It is likely to rise again after a pullback.

Currently, the short-swing upper resistance level lies between 0.71550~0.71650. The current support level lies between 0.70700~0.70800.

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 (26th of October) was around 39.32 this morning. Under 1-hour-chart technical analysis, it plummeted last Friday (23rd). The candlestick is currently lying between the middle and lower Bollinger Bands. The bands are facing downwards and expanding. It is likely to go down again after rebounding to the resistance level.

Currently, the short-swing upper resistance level lies between 39.60~39.70. The current support level lies between 38.30~38.40. Investors who wish to sell short could consider selling between 39.00~39.10 in the short-term and setting the stop loss above 39.20.

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

Technical Analysis (Nas100):

The NASDAQ (26th of October) was around 11611.6 this morning. Under 1-hour-chart technical analysis, it continued to fluctuate slightly in the low point last Friday (23rd). The candlestick is currently near the middle Bollinger Band. The bands are staying flat and contracting. It is likely to rebound after lying on the middle Bollinger Band.

Currently, the short-swing upper resistance level lies between 11780.0~11800.0. The current support level lies between 11560.0~11580.0. Investors who wish to go long could consider buying between 11640.0~11660.0 in the short-term and setting the stop loss below 11610.0.

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

Economic Calendar (26th of October)

(Source: uk.investing.com)

 TimeCurrencyDataImportance
1.10:00EURGerman Ifo Business Climate Index (Oct)★★★
2.15:00USDNew Home Sales (Sep)★★★
3.15:30USDDallas Fed Mfg Business Index (Oct)

(Importance: maximum three stars ★★★)

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