Technical Analysis (XAUUSD)

The Forex trading technical analysis for the price of gold (8th of December) points out that it was around 1861.7 USD/Ounce early today. Under 1-hour-chart technical analysis, the candlestick dropped sharply as predicted yesterday (7th), followed by a strong rebound. The candlestick is currently lying between the middle and upper Bollinger Bands. The bands are facing upwards, so it is likely to rise again after a pullback.

Currently, the short-swing upper resistance level lies between 1870.0~1873.0. The current support level lies between 1844.0~1847.0. Investors who wish to go long could consider buying between 1858.5~1860.5 in the short-term and setting the stop loss below 1854.5.

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

Technical Analysis (EURUSD):

The price of EUR/USD (8th of December) was around 1.21096 early today. Under 1-hour-chart technical analysis, it declined sharply as predicted yesterday (7th), followed by a rebound from the bottom. The candlestick is currently lying between the middle and lower Bollinger Bands. The bands are facing downwards, it is likely to decline after rebounding to the resistance level.

Currently, the short-swing upper resistance level lies between 1.21400~1.21500. The current support level lies between 1.20500~1.20600. Investors who wish to sell short could consider selling between 1.21100~1.21200 in the short-term and setting the stop loss above 1.21300.

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

Technical Analysis (GBPUSD):

The price of GBP/USD (8th of December) was around 1.33697 early today. Under 1-hour-chart technical analysis, it plummeted as predicted yesterday (7th), followed by a strong rebound from the bottom. The candlestick is currently fluctuating slightly near 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 1.33800~1.33900. The current support level lies between 1.32800~1.32900. Investors who wish to sell short could consider selling between 1.33500~1.33600 in the short-term and setting the stop loss above 1.33750.

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

Technical Analysis (AUDUSD):

The price of AUD/USD (8th of December) was around 0.74147 early today. Under 1-hour-chart technical analysis, it plummeted as predicted yesterday (7th), followed by a rebound from the bottom. 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 0.74400~0.74500. The current support level lies between 0.73850~0.73950. Investors who wish to sell short could consider selling between 0.74250~0.74300 in the short-term and setting the stop loss above 0.74380.

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

Technical Analysis (USOUSD):

The price of USO/USD (8th of December) was around 45.44 this morning. Under 1-hour-chart technical analysis, the candlestick pulled back after reaching the higher resistance level yesterday (7th), it is currently lying between the middle and lower Bollinger Bands. The bands are facing downwards. It is likely to drop again after rebounding to the resistance level.

Currently, the short-swing upper resistance level lies between 46.00~46.10. The current support level lies between 44.60~44.70. Investors who wish to sell short could consider selling between 45.40~45.60 in the short-term and setting the stop loss above 45.80.

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

Technical Analysis (Nas100):

The NASDAQ (8th of December) was around 12575.7 this morning. Under 1-hour-chart technical analysis, it rebounded slightly yesterday (7th). The candlestick is currently fluctuating around the middle Bollinger Band. The bands are contracting, so it is likely to drop after dipping below the middle band.

Currently, the short-swing upper resistance level lies between 12600.0~12620.0. The current support level lies between 12480.0~12500.0. Investors who wish to sell short could consider selling between 12570.0~12580.0 in the short-term and setting the stop loss above 12600.0.

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

Economic Calendar (8th of December)

(Source: uk.investing.com)

 TimeCurrencyDataImportance
1.00:50JPYGDP (QoQ) (Q3)★★★
2.00:50JPYCurrent Account n.s.a. (Oct)★★
3.07:45CHFUnemployment Rate n.s.a. (Nov)★★
4.08:45EURFrench Trade Balance (Oct)
5.11:00EURGerman ZEW Economic Sentiment (Dec)★★★
6.11:00EURGDP (QoQ) (Q3)★★
7.11:00EURZEW Economic Sentiment (Dec)★★★
8.11:00EUREmployment Change (QoQ0 (Q3)
9.12:00USDNFIB Small Business Optimism (Nov)

(Importance: maximum three stars ★★★)

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