Technical Analysis (XAUUSD)

The price of gold (12th of November) was around 1865.8 USD/Ounce early today. Under 1-hour-chart technical analysis, it dropped again as predicted yesterday (11th). The candlestick is currently lying between the middle and lower Bollinger Bands. 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 1883.0~1886.0. The current support level lies between1850.0~1853.0. Investors who wish to sell short could consider selling between 1867.0~1869.5 in the short-term and setting the stop loss above 1873.0.

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

Technical Analysis (EURUSD):

The price of EUR/USD (12th of November) was around 1.17761 early today. Under 1-hour-chart technical analysis, it fell sharply again after skyrocketing to the resistance level. The candlestick is currently lying between the middle and lower Bollinger Bands. 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 1.18100~1.18200. The current support level lies between 1.17250~1.17350. Investors who wish to sell short could consider selling between 1.17850~1.17950 in the short-term and setting the stop loss above 1.18100.

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

Technical Analysis (GBPUSD):

The price of GBP/USD (12th of November) was around 1.32217 early today. Under 1-hour-chart technical analysis, it pulled back sharply after spiking and penetrating the high point yesterday (11th). The candlestick is currently lying between the middle and lower Bollinger Bands. 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 1.32600~1.32700. The current support level lies between 1.31300~1.31400. Investors who wish to sell short could consider selling between 1.32200~1.32300 in the short-term and setting the stop loss above 1.32450.

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

Technical Analysis (AUDUSD):

The price of AUD/USD (12th of November) was around 0.72760 early today. Under 1-hour-chart technical analysis, the candlestick is currently fluctuating slightly at the high point and showing a head and shoulders pattern. The Bollinger Bands are contracting, so it is likely to drop again after falling below the middle band.

Currently, the short-swing upper resistance level lies between 0.73100~0.73200. The current support level lies between 0.72200~0.72300. Investors who wish to sell short could consider selling between 0.72750~0.72850 in the short-term and setting the stop loss above 0.72980.

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

Technical Analysis (USOUSD):

The price of USO/USD (12th of November) was around 41.30 this morning. Under 1-hour-chart technical analysis, it surged again as predicted yesterday (11th), then it pulled back. The candlestick is currently pulling back and lying between the middle and lower Bollinger Bands. 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 42.50~42.70. The current support level lies between 39.00~39.20. Investors who wish to sell short could consider selling between 41.35~41.55 in the short-term and setting the stop loss above 41.95.

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

Technical Analysis (Nas100):

The NASDAQ (12th of November) was around 11906.9 this morning. Under 1-hour-chart technical analysis, it rallied after a pullback as predicted yesterday (11th). The candlestick is currently lying between the middle and upper Bollinger Bands. The bands continue facing upwards, so it is likely to rebound after standing firmly on the middle band.

Currently, the short-swing upper resistance level lies between 12080.0~12100.0. The current support level lies between 11700.0~11720.0. Investors who wish to go long could consider buying between 11820.0~11840.0 in the short-term and setting the stop loss below 11790.0.

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

Economic Calendar (12th of November)

(Source: uk.investing.com)

 TimeCurrencyDataImportance
1.08:00EURGerman CPI (MoM) (Oct)★★
2.08:00GBPGDP (YoY) (Q3)★★★
3.08:00GBPMonthly GDP 3M/3M Change★★★
4.08:00GBPManufacturing Production (MoM) (Sep)★★★
5.08:00GBPTrade Balance (Sep)★★
6.08:00GBPIndustrial Production (MoM) (Sep)★★
7.11:00EURIndustrial Production (MoM) (Sep)★★
8.14:30USDCPI (MoM) (Oct)★★
9.14:30USDInitial Jobless Claims★★★

(Importance: maximum three stars ★★★)

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