Technical Analysis (XAUUSD)

The price of gold (28th of October) was around 1904.7 USD/Ounce early today. Under 1-hour-chart technical analysis, the candlestick rebounded sharply again yesterday (27th), followed by a pullback from the resistance level. It is currently fluctuating near the middle Bollinger Band. The bands are contracting, so it is likely to decline after dropping below the middle band.

Currently, the short-swing upper resistance level lies between 1912.0~1914.0. The current support level lies between 1898.0~1900.0. Investors who wish to short sell could consider selling between 1904.5~1906.5 in the short-term and setting the stop loss above 1909.0.

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

Technical Analysis (EURUSD):

The price of EUR/USD (28th of October) was around 1.17797 early today. Under 1-hour-chart technical analysis, it made a small retracement rally yesterday (27th), followed by a reverse from the higher resistance level, dropping below 1.18000 marks. The candlestick is currently showing a bearish sign, so it is likely to go down again after rebounding to the resistance level.

Currently, the short-swing upper resistance level lies between 1.18100~1.18200. The current support level lies between 1.17500~1.17600. Investors who wish to sell short could consider selling between 1.17950~1.18050 in the short-term and setting the stop loss above 1.18150.

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

Technical Analysis (GBPUSD):

The price of GBP/USD (28th of October) was around 1.30268 early today. Under 1-hour-chart technical analysis, it rebounded as predicted yesterday (27th). The candlestick is currently pulling back again and lying between the middle and lower Bollinger Bands. The bands are facing downwards, so it is likely to continue dropping.

Currently, the short-swing upper resistance level lies between 1.30700~1.30800. The current support level lies between 1.29800~1.29900.

Investors who wish to short sell could consider selling between 1.30350~1.30450 in the short-term and setting the stop loss above 1.30550.

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

Technical Analysis (AUDUSD):

The price of AUD/USD (28th of October) was around 0.71167 early today. Under 1-hour-chart technical analysis, the candlestick surged as predicted yesterday (27th), it is currently fluctuating near the middle Bollinger Band. The bands are contracting, so it is likely decline after dropping below the middle band.

Currently, the short-swing upper resistance level lies between 0.71550~0.71600. The current support level lies between 0.70900~0.70950.

Investors who wish to sell short could consider selling between 0.71350~0.71420 in the short-term and setting the stop loss above 0.71520.

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

Technical Analysis (USOUSD):

The price of USO/USD (28th of October) was around 38.67 this morning. Under 1-hour-chart technical analysis, it rebounded from the bottom as predicted yesterday (27th). The candlestick is currently pulling back and lying below the middle Bollinger Band. The bands are facing downwards, so it is likely to drop again after rebounding to the resistance level.

Currently, the short-swing upper resistance level lies between 38.90~39.00. The current support level lies between 37.80~37.90. Investors who wish to sell short could consider selling between 38.40~38.50 in the short-term and setting the stop loss above 38.65.

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

Technical Analysis (Nas100):

The NASDAQ (28th of October) was around 11535.4 this morning. Under 1-hour-chart technical analysis, it made a small retracement yesterday (27th). The candlestick is currently pulling back again and lying below the middle Bollinger Band. The bands are facing downwards, so it is likely to decline again after rebounding to the resistance level.

Currently, the short-swing upper resistance level lies between 11630.0~11650.0. The current support level lies between 11370.0~11390.0. Investors who wish to sell short could consider selling between 11550.0~11570.0 in the short-term and setting the stop loss above 11610.0.

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

Economic Calendar (28th of October)

(Source: uk.investing.com)

 TimeCurrencyDataImportance
1.01:30AUDCPI (YoY) (Q3)★★
2.10:00CHFZEW Expectations (Oct)
3.15:00CADBoC Interest Rate Decision★★★
4.15:30USDEIA Weekly Refinery Utilization Rates (WoW)

 (Importance: maximum three stars ★★★)

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