Technical Analysis (XAUUSD)

The Forex trading technical analysis reveals the price of gold (04th of November) was around 1908.2 USD/Ounce early today. Under 1-hour-chart technical analysis, after the candlestick went high, it started to plummet and followed by a rebound again. The candlestick is currently fluctuating near the middle Bollinger Band. It is likely to decline after rebounding to the resistance level.

Currently, the short-swing upper resistance level lies between 1905.0~1910.0. The current support level lies between 1870.0~1875.0. Investors who wish to short sell could consider selling between 1896.5~1899.5 in the short-term and setting the stop loss above 1903.0.

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

Technical Analysis (EURUSD):

The price of EUR/USD (04th of November) was around 1.17269 early today. Under 1-hour-chart technical analysis, the candlestick surged at the beginning, but began to plunge later due to sharp rally of USD index. The candlestick is currently lying below the middle Bollinger Band. It is likely to decline again after rebounding to the resistance level.

Currently, the short-swing upper resistance level lies between 1.17000~1.17100. The current support level lies between 1.16000~1.16100. Investors who wish to sell short could consider selling between 1.16600~1.16800 in the short-term and setting the stop loss above 1.17000.

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

Technical Analysis (GBPUSD):

The price of GBP/USD (04th of November) was around 1.30717 early today. Under 1-hour-chart technical analysis, the candlestick fluctuated intensively. It is currently rebounding 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 1.30700~1.30800. The current support level lies between 1.29000~1.29100.

Investors who wish to short sell could consider selling between 1.30150~1.30250 in the short-term and setting the stop loss above 1.30400.

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

Technical Analysis (AUDUSD):

The price of AUD/USD (04th of November) was around 0.71627 early today. Under 1-hour-chart technical analysis, the candlestick made a large reverse after spiking and penetrating the swing high. It is currently fluctuating below the middle Bollinger Band. It is likely to drop again after rebounding to the resistance level.

Currently, the short-swing upper resistance level lies between 0.71650~0.71700. The current support level lies between 0.70500~0.70550.

Investors who wish to sell short could consider selling between 0.71200~0.71250 in the short-term and setting the stop loss above 0.71350.

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

Technical Analysis (USOUSD):

The price of USO/USD (04th of November) was around 37.92 this morning. Under 1-hour-chart technical analysis, the candlestick is currently showing a bullish sign. The Bollinger Bands continue to face upwards and expand, so it is likely rise again after a pullback.

Currently, the short-swing upper resistance level lies between 39.30~39.40. The current support level lies between 36.40~36.50. Investors who wish to go long could consider buying between 38.10~38.20 in the short-term and setting the stop loss below 37.80.

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

Technical Analysis (Nas100):

The NASDAQ (04th of November) was around 11279.9 this morning. Under 1-hour-chart technical analysis, the candlestick skyrocketed after breaking out the upper resistance level. It is currently fluctuating slightly at the high point. It is likely to pull back after surging.

Currently, the short-swing upper resistance level lies between 11750.0~11780.0. The current support level lies between 11400.0~11430.0. Investors who wish to sell short could consider selling between 11670.0~11690.0 in the short-term and setting the stop loss above 11720.0.

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

Economic Calendar (04th of November)

(Source: uk.investing.com)

 TimeCurrencyDataImportance
1.02:45CHYCaixin Services PMI (Oct)★★
2.09:50EURFrench Services PMI (Oct)★★
3.09:55EURGerman Services PMI (Oct)★★
4.10:00EURServices PIMI (Oct)★★
5.10:30GBPServices PMI (Oct)★★★
6.11:00EURPPI (MoM) (Sep)
7.14:15USDADP Nonfarm Employment Change (Oct)★★★
8.14:30USDTrade balance (Sep)★★
9.15:45USDServices PMI (Oct)★★
10.16:00USDISM Non-Manufacturing PMI (Oct)★★★
11.16:30USDEIA Refinery Crude Runs (WoW)

(Importance: maximum three stars ★★★)

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