Technical Analysis (XAUUSD)

The Forex trading technical analysis reveals that the price of gold (16th of December) was around 1853.5 USD/Ounce early today. Under 1-hour-chart technical analysis, the candlestick skyrocketed after breaking through the resistance level of descending trend channel yesterday (15th). The candlestick is currently lying above the middle Bollinger Band. The bands are facing upwards, so it is likely to rise again after a pullback.

Currently, the short-swing upper resistance level lies between 1861.0~1864.0. The current support level lies between 1845.0~1848.0. Investors who wish to go long could consider buying between 1851.5~1853.5 in the short-term and setting the stop loss below 1848.5.

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

Technical Analysis (EURUSD):

The price of EUR/USD (16th of December) was around 1.21498 early today. Under 1-hour-chart technical analysis, it rose as predicted yesterday (15th). The candlestick is currently fluctuating around the middle Bollinger Band. The bands are contracting, so it is likely to decline after dipping below the middle band.

Currently, the short-swing upper resistance level lies between 1.21650~1.21750. The current support level lies between 1.21250~1.21300. Investors who wish to sell short could consider selling between 1.21520~1.21580 in the short-term and setting the stop loss above 1.21650.

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

Technical Analysis (GBPUSD):

The price of GBP/USD (16th of December) was around 1.34488 early today. Under 1-hour-chart technical analysis, it rebounded again after a pullback yesterday (15th). The candlestick is currently lying between the middle and upper Bollinger Bands. The bands continue facing upwards and expanding. It is likely to rebound again after a decline.

Currently, the short-swing upper resistance level lies between 1.34850~1.34950. The current support level lies between 1.33900~1.34000. Investors who wish to go long could consider buying between 1.34150~1.34250 in the short-term and setting the stop loss below 1.34000.

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

Technical Analysis (AUDUSD):

The price of AUD/USD (16th of December) was around 0.75511 early today. Under 1-hour-chart technical analysis, it rebounded again from the bottom yesterday (15th). The candlestick is currently lying above the middle Bollinger Band. The bands facing upwards and expanding. It is likely to rebound again after a pullback.

Currently, the short-swing upper resistance level lies between 0.75700~0.75750. The current support level lies between 0.75100~0.75150. Investors who wish to go long could consider buying between 0.75400~0.75450 in the short-term and setting the stop loss below 0.75300.

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

Technical Analysis (USOUSD):

The price of USO/USD (16th of December) was around 47.53 this morning. Under 1-hour-chart technical analysis, it skyrocketed again as predicted yesterday (15th). The candlestick is currently lying between the middle and upper Bollinger Band. The bands continue facing upwards and expanding. It is likely to rebound again after a pullback.

Currently, the short-swing upper resistance level lies between 47.80~47.90. The current support level lies between 47.00~47.10. Investors who wish to go long could consider buying between 47.35~47.45 in the short-term and setting the stop loss below 47.15.

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

Technical Analysis (Nas100):

The NASDAQ (16th of December) was around 12612.1 this morning. Under 1-hour-chart technical analysis, it went up again after pulling back to the middle Bollinger Band yesterday (15th). The candlestick is currently lying between the middle and upper bands. The bands are facing upwards, so it is likely to go up again after a pullback.

Currently, the short-swing upper resistance level lies between 12670.0~12700.0. The current support level lies between 12540.0~12570.0. Investors who wish to go long could consider buying between 12580.0~12600.0 in the short-term and setting the stop loss below 12560.0.

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

Economic Calendar (16th of December)

(Source: uk.investing.com)

 TimeCurrencyDataImportance
1.08:00GBPCPI (MoM) (Nov)★★
2.08:00GBPCore PPI (MoM) (Nov)
3.09:15EURFrench Manufacturing PMI (Dec)★★
4.09:30EURGerman Manufacturing PMI (Dec)★★★
5.10:00EURManufacturing PMI (Dec)★★
6.10:30GBPManufacturing PMI (Dec)★★★
7.10:30GBPServices PMI★★★
8.11:00EURTrade Balance (Oct)★★
9.14:30USDRetails Sales (MoM) (Nov)★★★
10.14:30CADCPI (MoM) (Nov)★★
11.14:30CADWholesale Sales (MoM) (Oct)★★
12.15:45USDManufacturing PMI (Dec)★★
13.15:45USDServices PMI (Dec)★★★
14.16:00USDNAHB Housing Market Index (Dec)
15.16:00USDBusiness Inventories (MoM) (Oct)★★
16.16:30USDEIA Refinery Crude Runs (WoW)

(Importance: maximum three stars ★★★)

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