Technical Analysis (XAUUSD)

The price of gold (29th of October) was around 1877.8 USD/Ounce early today. Under 1-hour-chart technical analysis, the prices plummeted after dipping below the middle Bollinger Band as predicted yesterday (28th). The candlestick is currently lying below the middle Bollinger Band. The bands are staying flat and contracting, so it is likely to rebound after standing above the middle band.

Currently, the short-swing upper resistance level lies between 1893.0~1895.0. The current support level lies between 1870.0~1872.0. Investors who wish to go long could consider buying between 1874.5~1876.5 in the short-term and setting the stop loss below 1871.0.

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

Technical Analysis (EURUSD):

The price of EUR/USD (29th of October) was around 1.17479 early today. Under 1-hour-chart technical analysis, it reversed sharply as predicted yesterday (28th). The candlestick is currently rebounding from the bottom and lying near the middle band, so it is likely to decline again after rebounding to the resistance level.

Currently, the short-swing upper resistance level lies between 1.17900~1.18000. The current support level lies between 1.17300~1.17400. Investors who wish to sell short could consider selling between 1.17700~1.17800 in the short-term and setting the stop loss above 1.17930.

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

Technical Analysis (GBPUSD):

The price of GBP/USD (29th of October) was around 1.29861 early today. Under 1-hour-chart technical analysis, it plummeted as predicted yesterday (28th). The candlestick is currently rebounding from the bottom and lying near 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 1.30200~1.30300. The current support level lies between 1.29200~1.29300.

Investors who wish to short sell could consider selling between 1.30000~1.30100 in the short-term and setting the stop loss above 1.30200.

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

Technical Analysis (AUDUSD):

The price of AUD/USD (29th of October) was around 0.70504 early today. Under 1-hour-chart technical analysis, it reversed sharply after the surge as predicted yesterday (28th). The candlestick is currently fluctuating near 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 0.70900~0.70950. The current support level lies between 0.70350~0.70400.

Investors who wish to sell short could consider selling between 0.70600~0.70650 in the short-term and setting the stop loss above 0.70720.

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

Technical Analysis (USOUSD):

The price of USO/USD (29th of October) was around 37.10 this morning. Under 1-hour-chart technical analysis, it plummeted as predicted yesterday (28th). The candlestick is currently rebounding from the bottom and fluctuating near 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 38.60~38.70. The current support level lies between 36.40~36.50. Investors who wish to sell short could consider selling between 38.10~38.20 in the short-term and setting the stop loss above 38.35.

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

Technical Analysis (Nas100):

The NASDAQ (29th of October) was around 11205.6 this morning. Under 1-hour-chart technical analysis, it plummeted as predicted yesterday (28th). The candlestick is currently rebounding from the bottom and lying below the middle Bollinger Band. The bands continue to face downwards, so it is likely to drop again after rebounding to the resistance level.

Currently, the short-swing upper resistance level lies between 11380.0~11400.0. The current support level lies between 11100.0~11120.0. Investors who wish to sell short could consider selling between 11320.0~11340.0 in the short-term and setting the stop loss above 11370.0.

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

Economic Calendar (29th of October)

(Source: uk.investing.com)

 TimeCurrencyDataImportance
1.04:00JPYBoJ Interest Rate Decision★★
2.09:55EURGerman Unemployment Change (Oct)★★★
3.09:55EURGerman Unemployment Rate (Oct)
4.10:30GBPMortgage Approvals (Sep)
5.11:00EURIndustrial Sentiment (Oct)
6.11:00EURConsumer Confidence (Oct)
7.11:00EURBusiness Climate (Oct)
8.13:30USDInitial Jobless Claims★★★
9.13:30USDGDP (QoQ) (Q3)★★★
10.13:30USDReal Consumer Spending (Q3)
11.13:30USDPCE Prices (Q3)
12.13:45EURECB Marginal Lending Facility★★★
13.14:00EURGerman CPI (MoM) (Oct)★★
14.15:00USDPending Home Sales Index (MoM) (Sep)
15.15:30USDNatural Gas Storage

(Importance: maximum three stars ★★★)

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