Technical Analysis (XAUUSD)

The Forex trading technical analysis for the price of gold (4th of December) indicates that it was around 1840.7 USD/Ounce early today. Under 1-hour-chart technical analysis, the candlestick continued to rise as predicted yesterday (3rd), it 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 1850.0~1853.0. The current support level lies between 1830.0~1833.0. Investors who wish to go long could consider buying between 1838.0~1840.0 in the short-term and setting the stop loss below 1835.5.

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

Technical Analysis (EURUSD):

The price of EUR/USD (4th of December) was around 1.21427 early today. Under 1-hour-chart technical analysis, it set a new high as predicted yesterday (3rd). The candlestick is currently fluctuating around the middle 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 1.21800~1.21900. The current support level lies between 1.21000~1.21100. Investors who wish to go long could consider buying between 1.21250~.21350 in the short-term and setting the stop loss below 1.21150.

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

Technical Analysis (GBPUSD):

The price of GBP/USD (4th of December) was around 1.34507 early today. Under 1-hour-chart technical analysis, it rebounded sharply from the bottom yesterday (3rd), but followed by a pullback after breaking out the trendline. The candlestick is currently fluctuating around the middle Bollinger Band, so it is likely to decline again after a rebound.

Currently, the short-swing upper resistance level lies between 1.34800~1.34900. The current support level lies between 1.34000~1.34100. Investors who wish to sell short could consider selling between 1.34500~1.34600 in the short-term and setting the stop loss above 1.34750.

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

Technical Analysis (AUDUSD):

The price of AUD/USD (4th of December) was around 0.74356 early today. Under 1-hour-chart technical analysis, it rebounded again after a pullback as predicted yesterday (3rd). The candlestick is currently lying between the middle and lower Bollinger Bands. However, the bands are facing downwards, so it is likely to decline.

Currently, the short-swing upper resistance level lies between 0.74450~0.74500. The current support level lies between 0.74000~0.74050. Investors who wish to sell short could consider selling between 0.74300~0.74350 in the short-term and setting the stop loss above 0.74410.

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

Technical Analysis (USOUSD):

The price of USO/USD (4th of December) was around 45.42 this morning. Under 1-hour-chart technical analysis, the candlestick surged again and broke out the upper resistance level after a pullback as predicted yesterday (3rd). The candlestick is currently showing a bullish sign. The bands are facing upwards and expanding, so it is likely to rebound again after a pullback.

Currently, the short-swing upper resistance level lies between 46.60~46.70. The current support level lies between 45.70~45.80. Investors who wish to go long could consider buying between 46.00~46.15 in the short-term and setting the stop loss below 45.80.

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

Technical Analysis (Nas100):

The NASDAQ (4th of December) was around 12492.2 this morning. Under 1-hour-chart technical analysis, it fluctuated dramatically around the high point yesterday (3rd). The candlestick is currently lying around the middle Bollinger Band. The bands are contracting, so it is likely to decline again after dipping below the middle band.

Currently, the short-swing upper resistance level lies between 12560.0~12580.0. The current support level lies between 12330.0~12350.0. Investors who wish to sell short could consider selling between 12500.0~12520.0 in the short-term and setting the stop loss above 12560.0.

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

Economic Calendar (4th of December)

(Source: uk.investing.com)

 TimeCurrencyDataImportance
1.21:30USDUnemployment Rate (Nov)★★★
2.21:30USDNonfarm Payrolls (Nov)★★★
3.21:30USDTrade Balance (Oct)★★
4.21:30CADEmployment Change (Nov)★★★
5.23:00USDFactory Orders (MoM) (Oct)★★

(Importance: maximum three stars ★★★)

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