Technical Analysis (XAUUSD)

The price of gold (1st of December) was around 1777.5 USD/Ounce early today. Under 1-hour-chart technical analysis, the candlestick rebounded slightly from the bottom as predicted yesterday (30th). It is currently lying above the middle Bollinger Band and the bands are facing upwards, so it is likely to continue rebounding after retracing to the middle band.

Currently, the short-swing upper resistance level lies between 1800.0~1802.0. The current support level lies between 1764.0~1766.0. Investors who wish to go long could consider buying between 1778.0~1780.0 in the short-term and setting the stop loss below 1774.5.

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

Technical Analysis (EURUSD):

The price of EUR/USD (1st of December) was around 1.19293 early today. Under 1-hour-chart technical analysis, it plummeted after hitting a new high as predicted yesterday (30th). The candlestick is currently lying below the middle Bollinger Band after rebounding from the bottom. 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 1.19700~1.19800. The current support level lies between 1.19100~1.19200. Investors who wish to sell short could consider selling between 1.19580~1.19650 in the short-term and setting the stop loss above 1.19750.

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

Technical Analysis (GBPUSD):

The price of GBP/USD (1st of December) was around 1.33260 early today. Under 1-hour-chart technical analysis, it dropped again after rebounding to the resistance level as predicted yesterday (30th). The candlestick is currently fluctuating around the middle Bollinger Band. The bands are staying flat, so it is likely to decline again after rebounding to the resistance level.

Currently, the short-swing upper resistance level lies between 1.33800~1.33900. The current support level lies between 1.33000~1.33100. Investors who wish to sell short could consider selling between 1.33500~1.33600 in the short-term and setting the stop loss above 1.33730.

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

Technical Analysis (AUDUSD):

The price of AUD/USD (1st of December) was around 0.73443 early today. Under 1-hour-chart technical analysis, it plummeted after a surge as predicted yesterday (30th). The candlestick is currently fluctuating below the middle Bollinger Band. 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 0.73850~0.73900. The current support level lies between 0.73300~0.73350. Investors who wish to sell short could consider selling between 0.73700~0.73750 in the short-term and setting the stop loss above 0.73850.

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

Technical Analysis (USOUSD):

The price of USO/USD (1st of December) was around 44.84 this morning. Under 1-hour-chart technical analysis, the candlestick continued to fluctuate at the high point yesterday (30th). The bands are contracting, so it is likely to pull back after dropping below the middle Bollinger Band.

Currently, the short-swing upper resistance level lies between 45.70~45.80. The current support level lies between 43.40~43.50. Investors who wish to sell short could consider selling between 44.75~44.90 in the short-term and setting the stop loss above 45.15.

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

Technical Analysis (Nas100):

The NASDAQ (1st of December) was around 12336.0 this morning. Under 1-hour-chart technical analysis, the candlestick plummeted after rebounding to the resistance level as predicted yesterday (30th), followed by a surge from the bottom. It is currently fluctuating slightly around the high point, so it is likely to pullback from high.

Currently, the short-swing upper resistance level lies between 12420.0~12440.0. The current support level lies between 12280.0~12300.0. Investors who wish to sell short could consider selling between 12370.0~12390.0 in the short-term and setting the stop loss above 12410.0.

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

Economic Calendar (1st of December)

(Source: uk.investing.com)

 TimeCurrencyDataImportance
1.02:30JPYUnemployment Rate (Oct)
2.07:45CHYCaixin Manufacturing PMI (Nov)★★★
3.04:30AUDRBA Rate Statement★★★
4.04:30AUDRBA Interest Rate Decision (Dec)定★★★
5.08:00GBPNationwide HPI (Nov)★★
6.09:50EURFrench manufacturing PMI (Nov)★★
7.09:55EURGerman Manufacturing PMI (Nov)★★★
8.09:55EURGerman Unemployment Change (Nov)★★★
9.09:55EURGerman Unemployment Rate (Nov)★★
10.10:00EURManufacturing PMI (Nov)★★
11.10:30GBPManufacturing PMI (Nov)★★★
12.11:00EURCPI (YoY) (Nov)★★★
13.11:00EURCPI (MoM)★★
14.14:30CADGDP (MoM) (Sep)★★★
15.15:45USDManufacturing PMI (Nov)★★
16.16:00USDISM Manufacturing PMI (Nov)★★★
17.16:00USDConstruction Spending (MoM) (Oct)

(Importance: maximum three stars ★★★)

The views or opinions as expressed in the above article represent the personal views or opinions of the author and do not represent those of IV Markets Limited (“IV Markets”). IV Markets has no obligation to independently check or verify the author of the article and the information provided in the article. Accordingly, IV MARKETS does not take responsibility for such article.

This material is for general information purposes only and is not intended as (and should not be considered to be) financial, investment or other advice on which reliance should be placed. IV Markets is not authorized to provide investment advice. No opinion given in the material constitutes a recommendation by IV Markets or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.

Trading with IV Markets can result in losses that exceed your deposits. Consumers should ensure they understand the risk and seek independent financial advice if necessary.

IV Markets is designed for clients to trade in the forex market, it is regulated by the Seychelles Financial Authority (FSA), license number: SD049.