Technical Analysis (XAUUSD)

The Forex trading technical analysis for the price of gold (6th of November) reveals that it was around 1947.6 USD/Ounces early today. Under 1-hour-chart technical analysis, it skyrocketed as predicted yesterday (5th). The candlestick is currently fluctuating slightly after surging, it is likely to break through the 5-days and the 10-days moving average to make a decline. It is likely to drop below the short support level and start the downtrend.

Currently, the short-swing upper resistance level lies between 1953.0~1955.0. The current support level lies between 1923.0~1925.0. Investors who wish to sell short could consider selling between 1941.5~1943.5 in the short-term and setting the stop loss above 1946.0.

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

Technical Analysis (GBPUSD):

The price of GBP/USD (6th of November) was around 1.18213 early today. Under 1-hour-chart technical analysis,it escalated as predicted yesterday (5th), the candlestick is currently pulling back and lying below the middle Bollinger Band. The bands are contracting. It is likely to drop below the middle band and decline again.

Currently, the short-swing upper resistance level lies between 1.18400~1.18500. The current support level lies between 1.17600~1.17700.

Investors who wish to sell short could consider selling between 1.18100~1.18200 in the short-term and setting the stop loss above 1.18300.

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

Technical Analysis (GBPUSD):

The price of GBP/USD (6th of November) was around 1.31397 early today. Under 1-hour-chart technical analysis, it surged and broke out the swing high yesterday (5th). The candlestick is currently fluctuating slightly. The Bollinger Bands are contracting, so it is likely to drop after dipping below the middle band.

Currently, the short-swing upper resistance level lies between 1.31500~1.31600. The current support level lies between 1.30400~1.30500.

Investors who wish to sell short could consider selling between 1.31200~1.31300 in the short-term and setting the stop loss above 1.31480.

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

Technical Analysis (AUDUSD):

The price of AUD/USD (6th of November) was around 0.72575 early today. Under 1-hour-chart technical analysis, the candlestick is currently fluctuating slightly at the high point. It is likely to tumble again after dropping below the middle Bollinger Band.

Currently, the short-swing upper resistance level lies between 0.73000~0.73050. The current support level lies between 0.72000~0.72050.

Investors who wish to sell short could consider selling between 0.72650~0.72700 in the short-term and setting the stop loss above 0.72800.

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

Technical Analysis (USOUSD):

The price of USO/USD (6th of November) was around 38.37 this morning. Under 1-hour-chart technical analysis, it pulled back as predicted yesterday (5th). The candlestick is currently lying below the middle Bollinger Band. The bands are contracting, so it is likely to continue falling.

Currently, the short-swing upper resistance level lies between 38.90~39.00. The current support level lies between 36.40~36.50. Investors who wish to sell short could consider selling between 38.00~38.10 in the short-term and setting the stop loss above 38.50.

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

Technical Analysis (Nas100):

The NASDAQ (6th of November) was around 12093.3 this morning. Under 1-hour-chart technical analysis, it skyrocketed yesterday (5th). The candlestick is currently fluctuating slightly after reaching the resistance level and lying below the middle Bollinger Band. The bands are contracting, so it is likely to decline after dipping below the middle band.

Currently, the short-swing upper resistance level lies between 12130.0~12150.0. The current support level lies between 11760.0~11780.0. Investors who wish to sell short could consider selling between 12020.0~12040.0 in the short-term and setting the stop loss above 12080.0.

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

Economic Calendar (6th of November)

(Source: uk.investing.com)

 TimeCurrencyDataImportance
1.08:00EURGerman Industrial Production (MoM) (Sep)★★
2.08:45EURFrench Trade Balance (Sep)
3.09:30GBPHalifax House Price Index (MoM) (Oct)★★
4.14:30USDUnemployment Rate (Oct)★★★
5.14:30USDNonfarm Payrolls (Oct)★★★
6.14:30CADEmployment Change (Oct)★★★
7.16:00USDWholesale Trade Sales (MoM) (Sep)

(Importance: maximum three stars ★★★)

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