Technical Analysis (XAUUSD)

The Forex trading technical analysis for the price of gold (9th of December) reveals that it was around 1870.2 USD/Ounce early today. Under 1-hour-chart technical analysis, the candlestick rebounded slightly as predicted yesterday (8th), it is currently fluctuating around the middle Bollinger Band. The bands are contracting, so it is likely to decline after a rally.

Currently, the short-swing upper resistance level lies between 1875.0~1878.0. The current support level lies between 1849.0~1852.0. Investors who wish to sell short could consider selling between 1867.5~1869.5 in the short-term and setting the stop loss above 1872.5.

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

Technical Analysis (EURUSD):

The price of EUR/USD (9th of December) was around 1.21051 early today. Under 1-hour-chart technical analysis, it dropped again as predicted yesterday (8th), followed by a rebound from the bottom. 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 1.21350~1.21450. The current support level lies between 1.20700~1.20800. Investors who wish to sell short could consider selling between 1.21150~1.21250 in the short-term and setting the stop loss above 1.21380.

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

Technical Analysis (GBPUSD):

The price of GBP/USD (9th of December) was around 1.33581 early today. Under 1-hour-chart technical analysis, it declined again as predicted yesterday (8th), followed by a sharp rebound from the bottom. The candlestick is currently fluctuating around the middle Bollinger Band, so it is likely to drop 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 1.32900~1.33000. Investors who wish to sell short could consider selling between 1.33450~1.33500 in the short-term and setting the stop loss above 1.33700.

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

Technical Analysis (AUDUSD):

The price of AUD/USD (9th of December) was around 0.74108 early today. Under 1-hour-chart technical analysis, it fell again as predicted yesterday (8th), followed by a rebound after falling deep to the bottom. The candlestick is currently lying above the middle Bollinger Band, but with the bands facing downwards. It is likely to drop again after rebounding to the resistance level.

Currently, the short-swing upper resistance level lies between 0.74350~0.74450. The current support level lies between 0.73900~0.74000. Investors who wish to sell short could consider selling between 0.74200~0.74260 in the short-term and setting the stop loss above 0.74330.

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

Technical Analysis (USOUSD):

The price of USO/USD (9th of December) was around 45.44 this morning. Under 1-hour-chart technical analysis, it pulled back after rebounding to the resistance level yesterday (8th). The candlestick is currently lying below the middle Bollinger Band. 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 46.00~46.10. The current support level lies between 44.60~44.70. Investors who wish to sell short could consider selling between 45.30~45.45 in the short-term and setting the stop loss above 45.65.

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

Technical Analysis (Nas100):

The NASDAQ (9th of December) was around 12664.7 this morning. Under 1-hour-chart technical analysis, it rebounded sharply after a slump yesterday (8th). The candlestick is currently lying between the middle and upper Bollinger Bands. The bands are facing upwards, so it is likely to continue rebounding.

Currently, the short-swing upper resistance level lies between 12700.0~12720.0. The current support level lies between 12540.0~12560.0. Investors who wish to go long could consider buying between 12620.0~12640.0 in the short-term and setting the stop loss below 12600.0.

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

Economic Calendar (9th of December)

(Source: uk.investing.com)

 TimeCurrencyDataImportance
1.02:30CHYCPI (YoY) (Nov)★★
2.08:00EURGerman Current Account Balance n.s.a. (Oct)
3.08:00EURGerman Trade Balance (Oct)★★
4.16:00CADBoC Interest Rate Decision★★★
5.16:00USDWholesale Trade Sales (MoM) (Oct)
6.16:30USDEIA Refinery Crude Runs (WoW)

(Importance: maximum three stars ★★★)

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