Technical Analysis (XAUUSD)

The Forex trading technical analysis for the price of gold (10th of December) reveals it was around 1839.4 USD/Ounce early today. Under 1-hour-chart technical analysis, the candlestick dropped sharply as predicted yesterday (9th), it is currently lying below the middle Bollinger Band. The bands are facing downwards and expanding, so it is likely to decline again after rebounding to the resistance level.

Currently, the short-swing upper resistance level lies between 1855.0~1858.0. The current support level lies between 1820.0~1823.0. Investors who wish to sell short could consider selling between 1847.5~1849.5 in the short-term and setting the stop loss above 1852.5.

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

Technical Analysis (EURUSD):

The price of EUR/USD (10th of December) was around 1.20797 early today. Under 1-hour-chart technical analysis, it declined again after a rebound as predicted yesterday (9th). The candlestick is currently lying between the middle and lower Bollinger Bands. The bands are facing downwards and expanding, so it is likely to drop again after rebounding to the resistance level.

Currently, the short-swing upper resistance level lies between 1.21000~1.21100. The current support level lies between 1.20400~1.20500. Investors who wish to sell short could consider selling between 1.20900~1.20950 in the short-term and setting the stop loss above 1.21050.

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

Technical Analysis (GBPUSD):

The price of GBP/USD (10th of December) was around 1.33619 early today. Under 1-hour-chart technical analysis, it pulled back again after surging as predicted yesterday (9th). The candlestick is currently lying below the middle Bollinger Band. The bands are facing downwards, so it is likely to fall again after rebounding to the resistance level.

Currently, the short-swing upper resistance level lies between 1.34100~1.34200. The current support level lies between 1.33000~1.33100. Investors who wish to sell short could consider selling between 1.33650~1.33750 in the short-term and setting the stop loss above 1.33880.

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

Technical Analysis (AUDUSD):

The price of AUD/USD (10th of December) was around 0.74333 early today. Under 1-hour-chart technical analysis, it fell sharply after surging as predicted yesterday (9th), followed by a rebound from the bottom. The candlestick is currently lying above the middle Bollinger Band. The bands are facing upwards, so it is likely to continue rising.

Currently, the short-swing upper resistance level lies between 0.74850~0.74900. The current support level lies between 0.74300~0.74350. Investors who wish to go long could consider buying between 0.74550~0.74600 in the short-term and setting the stop loss below 0.74480.

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

Technical Analysis (USOUSD):

The price of USO/USD (10th of December) was around 45.54 this morning. Under 1-hour-chart technical analysis, the candlestick is currently dropping as predicted yesterday (9th). The candlestick is currently lying above the middle Bollinger Band. The bands are facing upwards, so it is likely to rebound.

Currently, the short-swing upper resistance level lies between 46.30~46.40. The current support level lies between 45.00~45.10. Investors who wish to go long could consider buying between 45.45~45.60 in the short-term and setting the stop loss below 45.30.

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

Technical Analysis (Nas100):

The NASDAQ (10th of December) was around 12348.9 this morning. Under 1-hour-chart technical analysis, it plummeted after fluctuating in the higher consolidation zone yesterday (9th), followed by expanding the fall. The candlestick is currently fluctuating slightly at the bottom, so it is likely to rebound from the bottom.

Currently, the short-swing upper resistance level lies between 12420.0~12440.0. The current support level lies between 12230.0~12250.0. Investors who wish to go long could consider buying between 12320.0~12340.0 in the short-term and setting the stop loss below 12280.0.

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

Economic Calendar (10th of December)

(Source: uk.investing.com)

 TimeCurrencyDataImportance
1.08:00GBPMonthly GDP 3M/3M Change★★★
2.08:00GBPManufacturing Production (MoM) (Oct)★★★
3.08:00GBPTrade Balance (Oct)★★
4.08:00GBPIndustrial Production (MoM) (Oct)★★
5.08:45EURFrench Industrial Production (MoM) (Oct)
6.13:45EURECB Marginal Lending Facility★★★
7.14:30USDCPI (MoM) (Nov)★★
8.14:30USDInitial Jobless Claims
9.16:30USDNatural Gas Storage

 (Importance: maximum three stars ★★★)

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