Technical Analysis (XAUUSD)

The Forex trading technical analysis for the price of gold (05th of November) reveals that it was around 1903.0 USD/Ounce early today. Under 1-hour-chart technical analysis, it rebounded again after a pullback from high. The candlestick is currently lying between the middle and upper Bollinger Bands. The bands are facing upwards, so it is likely to continue to rebound.

Currently, the short-swing upper resistance level lies between 1916.0~1919.0. The current support level lies between 1888.0~1891.0. Investors who wish to go long could consider buying between 1905.5~1907.5 in the short-term and setting the stop loss below 1903.0.

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

Technical Analysis (EURUSD):

The price of EUR/USD (05th of November) was around 1.17208 early today. Under 1-hour-chart technical analysis, the candlestick rebounded sharply yesterday (4th). It is currently fluctuating near the middle Bollinger Band after the pullback. The bands are contracting, so it is likely to decline again after dropping below the middle band.

Currently, the short-swing upper resistance level lies between 1.17600~1.17700. The current support level lies between 1.16700~1.16800. Investors who wish to sell short could consider selling between 1.17200~1.17300 in the short-term and setting the stop loss above 1.17450.

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

Technical Analysis (GBPUSD):

The price of GBP/USD (05th of November) was around 1.29381 early today. Under 1-hour-chart technical analysis, the candlestick pulled back from high. It is currently lying between the middle and lower Bollinger Bands. The bands fare facing downwards and expanding, so it is likely to decline 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 1.28800~1.28900. Investors who wish to short sell could consider selling between 1.29500~1.29600 in the short-term and setting the stop loss above 1.29700.

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

Technical Analysis (AUDUSD):

The price of AUD/USD (05th of November) was around0.71665 early today. Under 1-hour-chart technical analysis, the candlestick rebounded from the bottom, followed by a retracement after failing to surge. It is currently fluctuating near the middle Bollinger band. It is likely to decline again after dipping below the middle band.

Currently, the short-swing upper resistance level lies between 0.72000~0.72050. The current support level lies between 0.70900~0.70950. Investors who wish to sell short could consider selling between 0.71550~0.71600 in the short-term and setting the stop loss above 0.71700.

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

Technical Analysis (USOUSD):

The price of USO/USD (05th of November) was around 38.94 this morning. Under 1-hour-chart technical analysis, the candlestick pulled back from high, it is currently dropping below the middle Bollinger Band. The bands are contracting, so it is likely to go down.

Currently, the short-swing upper resistance level lies between 39.70~39.80. The current support level lies between 36.80~36.90. Investors who wish to sell short could consider selling between 38.75~38.85 in the short-term and setting the stop loss above 39.00.

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

Technical Analysis (Nas100):

The NASDAQ (05th of November) was around 11841.2 this morning. Under 1-hour-chart technical analysis, the candlestick is currently fluctuating in the consolidation zone after a surge. The Bollinger Bands are contracting, so it is likely to face a downturn after tumbling below the middle Bollinger Band.

Currently, the short-swing upper resistance level lies between 11880.0~11900.0. The current support level lies between 11600.0~11620.0. Investors who wish to sell short could consider selling between 11815.0~11835.0 in the short-term and setting the stop loss above 11865.0.

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

Economic Calendar (05th of November)

(Source: uk.investing.com)

 TimeCurrencyDataImportance
1.07:45CHFSECO Consumer Climate (Q4)★★
2.08:00GBPBoE Interest Rate Decision (Nov)★★★
3.08:00GBPBoE QE Total (Nov)★★
4.11:00EURRetail Sales (MoM) (Sep)★★
5.13:30USDChallenger Job Cuts
6.14:30USDInitial Jobless Claims★★★
7.16:30USDNatural Gas Storage

(Importance: maximum three stars ★★★)

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