Technical Analysis (XAUUSD)

The Forex trading technical analysis reveals the price of gold (23rd of December) was around 1860.4 USD/Ounce early today. Under 1-hour-chart technical analysis, the candlestick pulled back sharply after reaching the resistance level yesterday (22nd), it 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 1877.0~1880.0. The current support level lies between 1851.0~1854.0. Investors who wish to sell short could consider selling between 1864.0~1866.0 in the short-term and setting the stop loss above 1869.5.

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

Technical Analysis (EURUSD):

The price of EUR/USD (23rd of December) was around 1.21633 early today. Under 1-hour-chart technical analysis, it plummeted after surging as predicted yesterday (22nd), then it rebounded from the bottom. The candlestick is currently fluctuating below the middle Bollinger Bands, so it is likely to rebound again after a pullback.

Currently, the short-swing upper resistance level lies between 1.22000~1.22100. The current support level lies between 1.21300~1.21400. Investors who wish to go long short could consider buying between 1.21650~1.21700 in the short-term and setting the stop loss below 1.21550.

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

Technical Analysis (GBPUSD):

The price of GBP/USD (23rd of December) was around 1.33630 early today. Under 1-hour-chart technical analysis, it dropped again after a small retracement as predicted yesterday (22nd), it then rebounded from the bottom. The candlestick is currently lying above the 5-day and 10-day moving average, so it is likely to continue rebounding.

Currently, the short-swing upper resistance level lies between 1.34700~1.34900. The current support level lies between 1.33200~1.33400. Investors who wish to go long could consider buying between 1.33850~1.34000 in the short-term and setting the stop loss below 1.33620.

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

Technical Analysis (AUDUSD):

The price of AUD/USD (23rd of December) was around 0.75233 early today. Under 1-hour-chart technical analysis, it plummeted again yesterday (22nd). The candlestick is currently rebounding and lying between the middle and upper Bollinger Bands. The bands are facing upwards, so it is likely to rebound again after a pullback.

Currently, the short-swing upper resistance level lies between 0.75800~0.75900. The current support level lies between 0.75100~0.75200. Investors who wish to go long could consider buying between 0.75400~0.75450 in the short-term and setting the stop loss below 0.75310.

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

Technical Analysis (USOUSD):

The price of USO/USD (23rd of December) was around 46.62 this morning. Under 1-hour-chart technical analysis, it plummeted as predicted yesterday (22nd). 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 47.10~47.20. The current support level lies between 45.50~45.60. Investors who wish to sell short could consider selling between 46.20~46.30 in the short-term and setting the stop loss above 46.45.

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

Technical Analysis (Nas100):

The NASDAQ (23rd of December) was around 12716.9 this morning. Under 1-hour-chart technical analysis, it plummeted as predicted yesterday (22nd). The candlestick is currently rebounding again and lying below the middle Bollinger Band. The bands are facing downwards, so it is likely to drop again after rebounding to the resistance level.

Currently, the short-swing upper resistance level lies between 12740.0~12760.0. The current support level lies between 12570.0~12590.0. Investors who wish to sell short could consider selling between 12700.0~12720.0 in the short-term and setting the stop loss above 12750.0.

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

Economic Calendar (23rd of December)

(Source: uk.investing.com)

 TimeCurrencyDataImportance
1.14:30USDInitial Jobless Claims★★★
2.14:30USDPCE Price Index (YoY) (Nov)★★
3.14:30USDPersonal Spending (MoM) (Nov)★★
4.14:30USDPCE Price Index (MoM) (Nov)★★
5.14:30CADGDP (MoM) (Oct)★★★
6.15:00USDHouse Price Index (MoM) (Oct)
7.16:00USDMichigan Consumer Sentiment (Dec)★★
8.16:00USDNew Home Sales (Nov)★★★
9.16:30USDEIA Refinery Crude Runs (WoW)

(Importance: maximum three stars ★★★)

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