Technical Analysis (XAUUSD)

The Forex trading technical analysis for the price of gold (16th of November) reveals that it was around 1888.2 USD/Ounce early today. Under 1-hour-chart technical analysis, it rose as predicted last Friday (13th). The candlestick is currently lying between the middle and upper Bollinger Bands. The bands are continuing to face upwards, so it is likely to rebound again after a pullback.

Currently, the short-swing upper resistance level lies between 1910.0~1913.0. The current support level lies between 1880.0~1883.0. Investors who wish to go long could consider buying between 1890.0~1893.0 in the short-term and setting the stop loss below 1886.0.

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

Technical Analysis (EURUSD):

The price of EUR/USD (16th of November) was around 1.18363 early today. Under 1-hour-chart technical analysis, as USD index dropped last Friday (13th), the euro uprises. The candlestick is currently lying between the middle and upper Bollinger Bands. The bands are continuing to face upwards, so it is likely to rebound again after a pullback.

Currently, the short-swing upper resistance level lies between 1.18800~1.18900. The current support level lies between 1.18000~1.18100. Investors who wish to go long could consider buying between 1.18400~1.18450 in the short-term and setting the stop loss below 1.18250.

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

Technical Analysis (GBPUSD):

The price of GBP/USD (16th of November) was around 1.31853 early today. Under 1-hour-chart technical analysis, it skyrocketed last Friday (13th). The candlestick is currently lying between the middle and upper Bollinger Bands. The bands are facing upwards, so it is likely to rebound again after a pullback.

Currently, the short-swing upper resistance level lies between 1.32700~1.32800. The current support level lies between 1.31400~1.31500. Investors who wish to go long could consider buying between 1.32150~1.32250 in the short-term and setting the stop loss below 1.31450.

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

Technical Analysis (AUDUSD):

The price of AUD/USD (16th of November) was around 0.72646 early today. Under 1-hour-chart technical analysis, the candlestick rebounded from the bottom last Friday (13th). It is currently staying bullish with the bands continuing to face upwards. It is likely to rebound again after a pullback.

Currently, the short-swing upper resistance level lies between 0.73250~0.73350. The current support level lies between 0.72500~0.72600. Investors who wish to go long could consider buying between 0.72850~0.72900 in the short-term and setting the stop loss below 0.72750.

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

Technical Analysis (USOUSD):

The price of USO/USD (16th of November) was around 40.00 this morning. Under 1-hour-chart technical analysis, it declined again after a rebound as predicted last Friday (13th). The candlestick is currently fluctuating in the middle Bollinger Band. The bands are contracting, so it is likely to drop again after reaching the resistance level. 

Currently, the short-swing upper resistance level lies between 41.40~41.50. The current support level lies between 38.90~39.00. Investors who wish to sell short could consider selling between 40.50~40.70 in the short-term and setting the stop loss above 40.95.

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

Technical Analysis (Nas100):

The NASDAQ (16th of November) was around 11970.6 this morning. Under 1-hour-chart technical analysis, the candlestick rose after breaking out the consolidation zone last Friday (13th). It is currently staying bullish with the Bollinger Bands facing upwards and expanding. It is likely to rebound after a pullback.

Currently, the short-swing upper resistance level lies between 12180.0~12200.0. The current support level lies between 11800.0~11820.0. Investors who wish to go long could consider buying between 12030.0~12050.0 in the short-term and setting the stop loss below 12000.0.

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

Economic Calendar (16th of November)

(Source: uk.investing.com)

 TimeCurrencyDataImportance
1.14:30USDNY Empire State Manufacturing Index (Nov)★★

(Importance: maximum three stars ★★★)

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