Technical Analysis (XAUUSD)

The Forex trading technical analysis for the price of gold (3rd of December) reveals that it was around 1829.9 USD/Ounce early today. Under 1-hour-chart technical analysis, it continued to stay bullish as predicted yesterday (2nd). The candlestick is currently lying between the middle and upper Bollinger Bands. The bands continue facing upwards, so it is likely to rebound again after a pullback.

Currently, the short-swing upper resistance level lies between 1840.0~1844.0. The current support level lies between 1816.0~1820.0. Investors who wish to go long could consider buying between 1826.0~1829.0 in the short-term and setting the stop loss below 1823.5.

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

Technical Analysis (EURUSD):

The price of EUR/USD (3rd of December) was around 1.21120 early today. Under 1-hour-chart technical analysis, as USD continued to fall yesterday (2nd), the euro hit another new high. The candlestick is currently lying between the middle and upper Bollinger Bands. The bands continue facing upwards, so it is likely to rebound again after a pullback.

Currently, the short-swing upper resistance level lies between 1.21500~1.21600. The current support level lies between 1.20700~1.20800. Investors who wish to go long could consider buying between 1.20850~1.20950 in the short-term and setting the stop loss below 1.20700.

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

Technical Analysis (GBPUSD):

The price of GBP/USD (3rd of December) was around 1.33715 early today. Under 1-hour-chart technical analysis, the candlestick plummeted after surging as predicted yesterday (2nd), followed by a rebound, the candlestick is currently fluctuating around the middle Bollinger Band. It is likely to decline again after rebounding to the resistance level.

Currently, the short-swing upper resistance level lies between 1.34000~1.34100. The current support level lies between 1.33000~1.33100. Investors who wish to sell short could consider selling between 1.33800~1.33900 in the short-term and setting the stop loss above 1.34000.

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

Technical Analysis (AUDUSD):

The price of AUD/USD (3rd of December) was around 0.74124 early today. Under 1-hour-chart technical analysis, it rebounded again after a pullback as predicted yesterday (2nd). 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 0.74300~0.74400. The current support level lies between 0.73800~0.73900. Investors who wish to go long could consider buying between 0.74000~0.74060 in the short-term and setting the stop loss below 0.73920.

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

Technical Analysis (USOUSD):

The price of USO/USD (3rd of December) was around 44.75 this morning. Under 1-hour-chart technical analysis, the candlestick rebounded again after a pullback yesterday (2nd). The candlestick is currently fluctuating above the middle Bollinger Band. The bands are facing upwards, so it is likely to rebound again after a pullback.

Currently, the short-swing upper resistance level lies between 45.70~45.80. The current support level lies between 43.90~44.00. Investors who wish to go long could consider buying between 44.75~44.95 in the short-term and setting the stop loss below 44.45.

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

Technical Analysis (Nas100):

The NASDAQ (3rd of December) was around 12477.9 this morning. Under 1-hour-chart technical analysis, it slumped as predicted yesterday (2nd), but the candlestick later rebounded sharply from the bottom. The bands are currently contracting, so it is likely to decline again after dropping below the middle band.

Currently, the short-swing upper resistance level lies between 12530.0~12550.0. The current support level lies between 12330.0~12350.0. Investors who wish to sell short could consider selling between 12480.0~12500.0 in the short-term and setting the stop loss above 12530.0.

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

Economic Calendar (3rd of December)

(Source: uk.investing.com)

 TimeCurrencyDataImportance
1.02:45CHYCaixin Services PMI (Nov)★★
2.09:50EURFrench Services PMI (Nov)★★
3.09:55EURGerman Services PMI (Nov)★★
4.10:00EURServices PMI (Nov)★★
5.10:30GBPServices PMI (Nov)★★★
6.11:00EURRetail Sales (MoM) (Oct)★★
7.13:30USDChallenger Job Cuts (Nov)
8.14:30USDInitial Jobless Claims★★★
9.15:45USDMarkit Composite PMI (Nov)★★
10.16:00USDISM Non-Manufacturing PMI (Nov)★★★
11.16:30USDNatural Gas Storage

(Importance: maximum three stars★★★)

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