Technical Analysis (XAUUSD)

The Forex trading technical analysis for the price of gold (17th of November) reveals that it was around 1888.3 USD/Ounce early today. Under 1-hour-chart technical analysis, it fluctuated dramatically yesterday (16th). The candlestick rebounded from the bottom. The candlestick is currently fluctuating near the middle Bollinger Band. The bands are facing upwards. It is likely to rebound again after pulling back.

Currently, the short-swing upper resistance level lies between 1903.0~1905.0. The current support level lies between 1872.0~1875.0. Investors who wish to go long could consider buying between 1885.0~1887.0 in the short-term and setting the stop loss below 1881.5.

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

Technical Analysis (EURUSD):

The price of EUR/USD (17th of November) was around 1.18554 early today. Under 1-hour-chart technical analysis, it rebounded again after pulling back as predicted yesterday (16th). The candlestick is currently continuing to rise. However, there is a resistance level in the high point, so it is likely to pull back after reaching the resistance level.

Currently, the short-swing upper resistance level lies between 1.18900~1.19000. The current support level lies between 1.18200~1.18300. Investors who wish to sell short could consider selling between 1.18750~1.18800 in the short-term and setting the stop loss above 1.18900.

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

Technical Analysis (GBPUSD):

The price of GBP/USD (17th of November) was around 1.31936 early today. Under 1-hour-chart technical analysis, it pulled back sharply after reaching the higher resistance level yesterday (16th), followed by a rebound from the bottom. 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 pulling back.

Currently, the short-swing upper resistance level lies between 1.32500~1.32600. The current support level lies between 1.31400~1.31500. Investors who wish to go long could consider buying between 1.32100~1.32150 in the short-term and setting the stop loss below 1.31950.

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

Technical Analysis (AUDUSD):

The price of AUD/USD (17th of November) was around 0.73131 early today. Under 1-hour-chart technical analysis, it continued to rebound as predicted yesterday (16th). The candlestick is currently showing a bullish trend. The Bollinger 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 0.73350~0.73450. The current support level lies between 0.72800~0.72900. Investors who wish to go long could consider buying between 0.73100~0.73150 in the short-term and setting the stop loss below 0.73020.

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

Technical Analysis (USOUSD):

The price of USO/USD (17th of November) was around 41.26 this morning. Under 1-hour-chart technical analysis, after the candlestick rebounded from the bottom yesterday (16th), it pulled back again from high. The Bollinger Bands are contracting, so it is likely to decline again after rebounding to the resistance level.

Currently, the short-swing upper resistance level lies between 42.20~42.30. The current support level lies between 39.30~39.40. Investors who wish to sell short could consider selling between 41.20~41.40 in the short-term and setting the stop loss above 41.65.

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

Technical Analysis (Nas100):

The NASDAQ (17th of November) was around 12088.7 this morning. Under 1-hour-chart technical analysis, it rebounded again after a pullback as predicted yesterday (16th). 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 12150.0~12180.0. The current support level lies between 11800.0~11830.0. Investors who wish to go long could consider buying between 12020.0~12040.0 in the short-term and setting the stop loss below 11980.0.

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

Economic Calendar (17th of November)

(Source: uk.investing.com)

 TimeCurrencyDataImportance
1.14:30USDRetail Sales (MoM) (Oct)★★★
2.14:30USDImport Price Index (MoM) (Oct)★★
3.14:30CADWholesale Sales (MoM) (Sep)★★
4.15:15USDIndustrial Production (MoM) (Oct)★★
5.16:00USDNAHB Housing Market Index (Nov)
6.16:00USDBusiness Inventories (MoM) (Sep)★★

(Importance: maximum three stars ★★★)

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