Technical Analysis (XAUUSD)

The Forex trading technical analysis for the price of gold (20th of November) revealed that it was around 1863.1 USD/Ounce early today. Under 1-hour-chart technical analysis, it dropped sharply as predicted yesterday (19th). The candlestick is currently rebounding from the bottom, refilling the upper rising gap, fluctuating near the middle Bollinger Band The 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 1872.0~1875.0. The current support level lies between 1852.0~1855.0. Investors who wish to sell short could consider selling between 1864.5~1866.5 in the short-term and setting the stop loss above 1870.5.

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

Technical Analysis (EURUSD):

The price of EUR/USD (20th of November) was around 1.18682 early today. Under 1-hour-chart technical analysis, it fell sharply as predicted yesterday (19th). The candlestick is currently fluctuating above the Bollinger Bands. It is likely to pull back again after penetrating the high point.

Currently, the short-swing upper resistance level lies between 1.18900~1.19000. The current support level lies between 1.18400~1.18500. Investors who wish to sell short could consider selling between 1.18750~1.18850 in the short-term and setting the stop loss above 1.18980.

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

Technical Analysis (GBPUSD):

The price of GBP/USD (20th of November) was around 1.32495 early today. Under 1-hour-chart technical analysis, it dropped sharply as predicted yesterday (19th), it rebounded after touching the lower support level of the 240-days moving average. The candlestick 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 1.33100~1.33200. The current support level lies between 1.32200~1.32300. Investors who wish to go long could consider buying between 1.32500~1.32580 in the short-term and setting the stop loss below 1.32370.

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

Technical Analysis (AUDUSD):

The price of AUD/USD (20th of November) was around 0.72724 early today. Under 1-hour-chart technical analysis, it fell sharply again as predicted yesterday (19th). The candlestick is currently fluctuating near the middle Bollinger Band. The bands are contracting, so it is likely to drop again after rebounding to the resistance level.

Currently, the short-swing upper resistance level lies between 0.73000~0.73100. The current support level lies between 0.72500~0.72600. Investors who wish to sell short could consider selling between 0.72850~0.72900 in the short-term and setting the stop loss above 0.73050.

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

Technical Analysis (USOUSD):

The price of USO/USD (20th of November) was around 41.50 this morning. Under 1-hour-chart technical analysis, the candlestick rebounded again after making a small retracement yesterday (19th). The Bollinger Bands are currently contracting and forming a symmetrical triangle. It is likely to decline again after rebounding to the resistance level.

Currently, the short-swing upper resistance level lies between 42.30~42.40. The current support level lies between 40.40~40.50. Investors who wish to sell short could consider selling between 41.65~41.75 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 (20th of November) was around 11961.6 this morning. Under 1-hour-chart technical analysis, it fell again as predicted yesterday (19th). It rebounded sharply after touching the bottom. The candlestick is currently pulling back from the higher resistance level, so it is likely to drop again after rebounding to the resistance level.

Currently, the short-swing upper resistance level lies between 12070.0~12100.0. The current support level lies between 11900.0~11930.0. Investors who wish to sell short could consider selling between 12010.0~12030.0 in the short-term and setting the stop loss above 12060.0.

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

Economic Calendar (20th of November)

(Source: uk.investing.com)

 TimeCurrencyDataImportance
1.00:30JPYNational Core CPI (YoY) (Oct)★★
2.01:01GBPGfk Consumer Confidence
3.02:30CHYPBoC Loan Prime Rate★★★
4.08:00EURGerman PPI (MoM) (Oct)★★
5.08:00GBPRetail Sales (MoM) (Oct)★★★
6.14:30CADRetail Sales (MoM) (Sep)★★

(Importance: maximum three stars ★★★)

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