Technical Analysis (XAUUSD)

The Forex trading technical analysis for the price of gold (24th of November) reveals that it was around 1837.3 USD/Ounce early today. Under 1-hour-chart technical analysis, as USD index rebounded sharply yesterday (23rd), gold prices plummeted. The candlestick is currently fluctuating slightly around the low point. It is likely to rebound from the bottom.

Currently, the short-swing upper resistance level lies between 1850.0~1853.0. The current support level lies between 1825.0~1828.0. Investors who wish to go long could consider buying between 1830.0~1832.0 in the short-term and setting the stop loss below 1826.5.

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

Technical Analysis (EURUSD):

The price of EUR/USD (24th of November) was around 1.18381 early today. Under 1-hour-chart technical analysis, it plummeted after surging as predicted yesterday (23rd). The candlestick is currently lying below the middle Bollinger Band. 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 1.18700~1.18800. The current support level lies between 1.18000~1.18100. Investors who wish to sell short could consider selling between 1.18500~1.18600 in the short-term and setting the stop loss above 1.18700.

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

Technical Analysis (GBPUSD):

The price of GBP/USD (24th of November) was around 1.33223 early today. Under 1-hour-chart technical analysis, it broke out the swing high as predicted yesterday (23rd), followed by a pullback. The candlestick is currently rebounding and lying below the middle Bollinger Band. 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 1.33600~1.33700. The current support level lies between 1.32400~1.32500. Investors who wish to sell short could consider selling between 1.33300~1.33400 in the short-term and setting the stop loss above 1.33550.

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

Technical Analysis (AUDUSD):

The price of AUD/USD (24th of November) was around 0.72843 early today. Under 1-hour-chart technical analysis, it rose as predicted yesterday (23rd), followed by a pullback from high. The candlestick is currently lying between the middle and upper Bollinger Bands again. The bands are facing upwards, so it is likely to rise again after a correction.

Currently, the short-swing upper resistance level lies between 0.73300~0.73350. The current support level lies between 0.72850~0.72900. Investors who wish to go long could consider buying between 0.73030~0.73130 in the short-term and setting the stop loss below 0.72930.

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

Technical Analysis (USOUSD):

The price of USO/USD (24th of November) was around 42.51 this morning. Under 1-hour-chart technical analysis, it went up again as predicted yesterday (23rd). The candlestick is currently pulling back and lying above the middle Bollinger Band. The bands are facing upwards, so it is likely to rise again after a pullback.

Currently, the short-swing upper resistance level lies between 43.40~43.50. The current support level lies between 42.20~42.30. Investors who wish to go long could consider buying between 42.70~42.85 in the short-term and setting the stop loss below 42.50.

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

Technical Analysis (Nas100):

The NASDAQ (24th of November) was around 11924.6 this morning. Under 1-hour-chart technical analysis, it dropped sharply as predicted yesterday (23rd). The candlestick is currently rebounding from the bottom and fluctuating near the middle Bollinger Band. The bands continue facing downwards, so it is likely to drop again after rebounding to the resistance level.

Currently, the short-swing upper resistance level lies between 12010.0~12030.0. The current support level lies between 11880.0~11900.0. Investors who wish to sell short could consider selling between 11970.0~11990.0 in the short-term and setting the stop loss above 12020.0.

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

Economic Calendar (24th of November)

(Source: uk.investing.com)

 TimeCurrencyDataImportance
1.15:00EURGerman GDP (YoY) (Q3)★★
2.17:00EURGerman Ifo Business Climate Index (Nov)★★★
3.19:00GBPCBI Distributive Trades Survey (Nov)
4.22:00USDHouse Price Index (MoM) (Sep)
5.22:00USDS&P/CS20 HPI Composite 20 n.s.a. (YoY) (Sep)★★
6.23:00USDCB Consumer Confidence (Nov)★★★
7.23:00USDRichmond Manufacturing Index (Nov)

(Importance: maximum three stars ★★★)

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