Technical Analysis (XAUUSD)

The Forex trading technical analysis for the price of gold (7th of December) reveals that it was around 1837.8 USD/Ounce early today. Under 1-hour-chart technical analysis, the candlestick rebounded again last Friday (4th), it then pulled back from the high point. The candlestick is currently lying between the middle and lower Bollinger Bands. 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 1844.0~1846.0. The current support level lies between 1823.0~1825.0. Investors who wish to sell short could consider selling between 1836.5~1838.5 in the short-term and setting the stop loss above 1841.5.

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

Technical Analysis (EURUSD):

The price of EUR/USD (7th of December) was around 1.21263 early today. Under 1-hour-chart technical analysis, it spurred to a new high as predicted last Friday (4th), followed by a pullback. The candlestick is currently fluctuating below the middle Bollinger Band. The bands are facing downwards, so it is likely to decline again after a rebound.

Currently, the short-swing upper resistance level lies between 1.21500~1.21600. The current support level lies between 1.20600~1.20700. Investors who wish to sell short could consider selling between 1.21300~1.21400 in the short-term and setting the stop loss above 1.21500.

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

Technical Analysis (GBPUSD):

The price of GBP/USD (7th of December) was around 1.34168 early today. Under 1-hour-chart technical analysis, it reversed sharply as predicted last Friday (4th). The candlestick is currently fluctuating below the middle Bollinger Band. It is likely to drop again after rebounding to the resistance level.

Currently, the short-swing upper resistance level lies between 1.34550~1.34650. The current support level lies between 1.33750~1.33850. Investors who wish to sell short could consider selling between 1.34350~1.34450 in the short-term and setting the stop loss above 1.34550.

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

Technical Analysis (AUDUSD):

The price of AUD/USD (7th of December) was around 0.74305 early today. Under 1-hour-chart technical analysis, it rebounded from the bottom after a pullback last Friday (4th). 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 0.74450~0.74550. The current support level lies between 0.74000~0.74100. Investors who wish to sell short could consider selling between 0.74300~0.74350 in the short-term and setting the stop loss above 0.74420.

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

Technical Analysis (USOUSD):

The price of USO/USD (7th of December) was around 45.98 this morning. Under 1-hour-chart technical analysis, the candlestick bounced back slightly after a pullback, it is fluctuating near the middle Bollinger Band. The bands are contracting, so it is likely to rebound after a pullback.

Currently, the short-swing upper resistance level lies between 46.80~46.90. The current support level lies between 44.70~44.80. Investors who wish to go long could consider buying between 45.70~45.85 in the short-term and setting the stop loss below 45.40.

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

Technical Analysis (Nas100):

The NASDAQ (7th of December) was around 12529.9 this morning. Under 1-hour-chart technical analysis, it rose again last Friday (4th). The candlestick is currently fluctuating around the middle Bollinger Band. The bands are contracting, so it is likely to decline again after tumbling below the middle band.

Currently, the short-swing upper resistance level lies between 12570.0~12600.0. The current support level lies between 12420.0~12450.0. Investors who wish to sell short could consider selling between 12520.0~12540.0 in the short-term and setting the stop loss above 12580.0.

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

Economic Calendar (7th of December)

(Source: uk.investing.com)

 TimeCurrencyDataImportance
1.04:00CHYTrade Balance (USD) (Nov)★★
3.08:00EURGerman Industrial Production (MoM) (Oct)★★
4.09:00CHYFX Reserves (USD)
5.09:30GBPHalifax Houses Price Index (MoM) (Nov)★★
6.10:30EURSentix Investors Confidence (Dec)

(Importance: maximum three stars ★★★)

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