Technical Analysis (XAUUSD)

The Forex trading technical analysis reveals the price of gold (31st of December) was around 1893.9 USD/Ounce early today. Under 1-hour-chart technical analysis, it skyrocketed after fluctuating around the low point as predicted yesterday (30th). The candlestick is currently lying between the middle and upper Bollinger Bands. The bands face upwards and expand, so it is likely to rebound again after a pullback.

Currently, the short-swing upper resistance level lies between 1906.0~1909.0. The current support level lies between 1892.0~1895.0. Investors who wish to go long could consider buying between 1896.0~1898.0 in the short-term and setting the stop loss below 1893.0.

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

Technical Analysis (EURUSD):

The price of EUR/USD (31st of December) was around 1.22957 early today. Under 1-hour-chart technical analysis, it skyrocketed again and broke out the high point as predicted yesterday (30th). The candlestick is currently lying between the middle and upper Bollinger Bands. The bands face upwards and expand, so it is likely to rise again after a pullback.

Currently, the short-swing upper resistance level lies between 1.23200~1.23400. The current support level lies between 1.22600~1.22700. Investors who wish to go long could consider buying between 1.22950~1.23000 in the short-term and setting the stop loss below 1.22850.

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

Technical Analysis (GBPUSD):

The price of GBP/USD (31st of December) was around 1.36113 early today. Under 1-hour-chart technical analysis, it rebounded after a pullback as predicted yesterday (30th), and it broke out the high point. The candlestick is currently lying between the middle and upper Bollinger Bands. The bands face upwards and expand, so it is likely to rebound again after a retracement.

Currently, the short-swing upper resistance level lies between 1.36800~1.37000. The current support level lies between 1.35800~1.35900. Investors who wish to go long could consider buying between 1.36200~1.36300 in the short-term and setting the stop loss below 1.36000.

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

Technical Analysis (AUDUSD):

The price of AUD/USD (31st of December) was around 0.76837 early today. Under 1-hour-chart technical analysis, it skyrocketed again as predicted yesterday (30th), the candlestick is currently standing firmly between the middle and upper Bollinger Bands. The bands face upwards and expand, so it is likely to rise again after a pullback.

Currently, the short-swing upper resistance level lies between 0.77300~0.77400. The current support level lies between 0.76500~0.76600. Investors who wish to go long could consider buying between 0.76900~0.76950 in the short-term and setting the stop loss below 0.76820.

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

Technical Analysis (USOUSD):

The price of USO/USD (31st of December) was around 48.19 this morning. Under 1-hour-chart technical analysis, it rebounded as predicted yesterday (30th). The candlestick is currently pulling back and lying below the middle Bollinger Band, so it is likely to decline after dropping below the middle band.

Currently, the short-swing upper resistance level lies between 48.70~48.90. The current support level lies between 47.00~47.20. Investors who wish to sell short could consider selling between 48.10~48.20 in the short-term and setting the stop loss above 48.35.

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

Technical Analysis (Nas100):

The NASDAQ (31st of December) was around 12856.6 this morning. Under 1-hour-chart technical analysis, the candlestick pulled back sharply after surging yesterday (30th), it is currently rebounding slightly and lying below the middle Bollinger Band. The bands face downwards, so it is likely to decline again after rebounding to the resistance level.

Currently, the short-swing upper resistance level lies between 12890.0~12920.0. The current support level lies between 12760.0~12790.0. Investors who wish to sell short could consider selling between 12860.0~12890.0 in the short-term and setting the stop loss above 12920.0.

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

Economic Calendar (31st of December)

(Source: uk.investing.com)

 TimeCurrencyDataImportance
1.02:00CHYManufacturing PMI (Dec)★★★
2.14:30USDInitial Jobless Claims★★★
3.16:30USDNatural Gas Storage

(Importance: maximum three stars ★★★)

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