Technical Analysis (XAUUSD)

The Forex trading technical analysis reveals that the price of gold (2nd of December) was around 1814.2USD/Ounce early today. Under 1-hour-chart technical analysis, the candlestick rebounded sharply from the bottom as predicted yesterday (1st), it is currently lying above the middle Bollinger Band. The bands continue facing upwards, so it is likely to rebound again after a pullback,

Currently, the short-swing upper resistance level lies between 1830.0~1833.0. The current support level lies between 1790.0~1793.0. Investors who wish to go long could consider buying between 1807.0~1809.0 in the short-term and setting the stop loss below 1804.5.

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

Technical Analysis (EURUSD):

The price of EUR/USD (2nd of December) was around 1.20713 early today. Under 1-hour-chart technical analysis, as USD continued to drop yesterday (1st), the euro hit a new high. The candlestick is currently fluctuating after a surge, so it is likely to pullback after reaching the resistance level.

Currently, the short-swing upper resistance level lies between 1.20900~1.21000. The current support level lies between 1.20300~1.20400. Investors who wish to sell short could consider selling between 1.20750~1.20850 in the short-term and setting the stop loss above 1.20950.

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

Technical Analysis (GBPUSD):

The price of GBP/USD (2nd of December) was around 1.34234 early today. Under 1-hour-chart technical analysis, it dropped again after rebounding to the resistance level as predicted yesterday (1st). The candlestick is currently fluctuating dramatically after surging, so it is likely to decline again after bouncing to the resistance level.

Currently, the short-swing upper resistance level lies between 1.34400~1.34500. The current support level lies between 1.33900~1.34000. Investors who wish to sell short could consider selling between 1.34250~1.34300 in the short-term and setting the stop loss above 1.34400.

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

Technical Analysis (AUDUSD):

The price of AUD/USD (2nd of December) was around 0.73723 early today. Under 1-hour-chart technical analysis, it rebounded again after a pullback yesterday (1st). The candlestick is currently fluctuating 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 0.74100~0.74150. The current support level lies between 0.73500~0.73550. Investors who wish to go long could consider buying between 0.73750~0.73800 in the short-term and setting the stop loss below 0.73650.

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

Technical Analysis (USOUSD):

The price of USO/USD (2nd of December) was around 44.13 this morning. Under 1-hour-chart technical analysis, the candlestick plummeted after dropping below the support level as predicted yesterday (1st), it is currently lying below the middle Bollinger Band. The bands are facing downwards, so it is likely to continue declining.

Currently, the short-swing upper resistance level lies between 44.70~44.80. The current support level lies between 43.00~43.10. Investors who wish to sell short could consider selling between 43.95~44.05 in the short-term and setting the stop loss above 44.20.

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

Technical Analysis (Nas100):

The NASDAQ (2nd of December) was around 12463.1 this morning. Under 1-hour-chart technical analysis, it skyrocketed from the bottom yesterday (1st), the candlestick is currently pulling back after reaching the resistance level. It is likely to decline after dropping below the middle Bollinger Band.

Currently, the short-swing upper resistance level lies between 12510.0~12530.0. The current support level lies between 12320.0~12340.0. Investors who wish to sell short could consider selling between 12430.0~12450.0 in the short-term and setting the stop loss above 12480.0.

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

Economic Calendar (2nd of December)

(Source: uk.investing.com)

 TimeCurrencyDataImportance
1.08:30AUDGDP (YoY) (Q3)★★
2.15:30CHFCPI (MoM) (Nov)★★
3.18:00EURPPI (MoM) (Oct)
4.18:00EURUnemployment Rate (Oct)★★
5.21:15USDADP Nonfarm Employment Change (Nov)★★★
6.23:30USDEIA Refinery Crude Runs (WoW)

(Importance: maximum three stars ★★★)

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