Technical Analysis (XAUUSD)

The Forex trading technical analysis of the price of gold (9th of November) reveals that it was around 1954.3 USD/Ounces early today. Under 1-hour-chart technical analysis, the candlestick made a small retracement from high and is currently lying between the middle and upper Bollinger Bands. The bands are facing upwards, so it is likely to rise again after a pullback.

Currently, the short-swing upper resistance level lies between 1966.0~1969.0. The current support level lies between 1942.0~1945.0. Investors who wish to go long could consider buying between 1953.5~1955.5 in the short-term and setting the stop loss below 1950.0.

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

Technical Analysis (GBPUSD):

The price of GBP/USD (9th of November) was around 1.18878 early today. Under 1-hour-chart technical analysis, the candlestick is currently showing a bullish sign, lying between the middle and upper Bollinger Bands. The bands are facing upwards, so it is likely to rise again after a pullback.

Currently, the short-swing upper resistance level lies between 1.19200~1.19300. The current support level lies between 1.18500~1.18600.

Investors who wish to go long could consider buying between 1.18900~1.18950 in the short-term and setting the stop loss below 1.18750.

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

Technical Analysis (GBPUSD):

The price of GBP/USD (9th of November) was around 1.31621 early today. Under 1-hour-chart technical analysis, the candlestick has broken out the high point, and is currently lying between the middle and upper Bollinger Bands. The bands are facing upwards and expanding. It is likely to rise again after a pullback.

Currently, the short-swing upper resistance level lies between 1.32200~1.32300. The current support level lies between 1.31300~1.31400.

Investors who wish to go long could consider buying between 1.31800~1.31900 in the short-term and setting the stop loss below 1.31650.

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

Technical Analysis (AUDUSD):

The price of AUD/USD (9th of November) was around 0.72757 early today. Under 1-hour-chart technical analysis, the candlestick slightly fluctuated at high after surging. The Bollinger 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 0.73050~0.73100. The current support level lies between 0.72150~0.72200.

Investors who wish to sell short could consider selling between 0.72850~0.72900 in the short-term and setting the stop loss above 0.73000.

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

Technical Analysis (USOUSD):

The price of USO/USD (9th of November) was around 37.23 this morning. Under 1-hour-chart technical analysis, it rebounded after a sharp retracement last Friday (6th). The candlestick is currently lying between the middle and upper Bollinger Bands. The bands are facing upwards, so it is likely to continue rebounding.

Currently, the short-swing upper resistance level lies between 39.00~39.10. The current support level lies between 36.30~36.40. Investors who wish to go long could consider buying between 37.90~38.00 in the short-term and setting the stop loss below 37.60.

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

Technical Analysis (Nas100):

The NASDAQ (9th of November) was around 12169.5 this morning. Under 1-hour-chart technical analysis, the candlestick rebounded again after a correction last Friday (6th), it is currently lying between the middle and upper Bollinger Bands. The bands are facing upwards, so it is likely to rebound again after a correction.

Currently, the short-swing upper resistance level lies between 12460.0~12480.0. The current support level lies between 12120.0~12140.0. Investors who wish to go long could consider buying between 12300.0~12330.0 in the short-term and setting the stop loss below 12270.0.

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

Economic Calendar (9th of November)

(Source: uk.investing.com)

 TimeCurrencyDataImportance
1.07:45CHFUnemployment Rate n.s.a. (Oct)★★
2.08:00EURGerman Current Account Balance (Sep)
3.08:00EURGerman Trade Balance (Sep)★★
4.10:30EURSentix Investors’ Confidence (Nov)

(Importance: maximum three stars ★★★)

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