Technical Analysis (XAUUSD)

The Forex trading technical analysis for the price of gold (04th of January) reveals that it was around 1905.5 USD/Ounce early today. Under 1-hour-chart technical analysis, it skyrocketed again as predicted last Thursday (31st). The candlestick is currently lying between the middle and upper Bollinger Bands. The bands face upwards, so it is likely to rise again after pulling back.

Currently, the short-swing upper resistance level lies between 1923.0~1926.0. The current support level lies between 1905.0~1908.0. Investors who wish to go long could consider buying between 1910.0~1914.0 in the short-term and setting the stop loss below 1905.0.

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

Technical Analysis (EURUSD):

The price of EUR/USD (04th of January) was around 1.22332 early today. Under 1-hour-chart technical analysis, it pulled back sharply after surging to the resistance level last Thursday (31st). The candlestick is currently rebounding from the bottom and lying above the middle Bollinger Band, so it is likely to rebound again after pulling back.

Currently, the short-swing upper resistance level lies between 1.22900~1.23000. The current support level lies between 1.22200~1.22300. Investors who wish to go long could consider buying between 1.22400~1.22500 in the short-term and setting the stop loss below 1.22300.

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

Technical Analysis (GBPUSD):

The price of GBP/USD (04th of January) was around 1.36596 early today. Under 1-hour-chart technical analysis, it rebounded again after a pullback as predicted last Thursday (31st). The candlestick is currently fluctuating slightly around the middle Bollinger Band. The bands contract, so it is likely to pull back after surging to the higher resistance level. 

Currently, the short-swing upper resistance level lies between 1.37150~1.37250. The current support level lies between 1.35750~1.35850. Investors who wish to sell short could consider selling between 1.36800~1.36900 in the short-term and setting the stop loss above 1.37100.

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

Technical Analysis (AUDUSD):

The price of AUD/USD (04th of January) was around 0.76941 early today. Under 1-hour-chart technical analysis, it pulled back sharply after surging to the resistance level last Thursday (31st). The candlestick is currently fluctuating around the middle Bollinger Band. The bands contract, so it is likely to pullback after rebounding to the resistance level.

Currently, the short-swing upper resistance level lies between 0.77400~0.77500. The current support level lies between 0.76400~0.76500. Investors who wish to sell short could consider selling between 0.77000~0.77100 in the short-term and setting the stop loss above 0.77250.

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

Technical Analysis (USOUSD):

The price of USO/USD (04th of January) was around 48.27 this morning. Under 1-hour-chart technical analysis, it rose after breaking out the consolidation zone last Thursday (31st). The candlestick is currently lying above the middle Bollinger Band. The bands face upwards, so it is likely to rebound again after standing firmly on the middle band.

Currently, the short-swing upper resistance level lies between 49.05~49.15. The current support level lies between 48.00~48.10. Investors who wish to go long could consider buying between 48.45~48.60 in the short-term and setting the stop loss below 48.30.

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

Technical Analysis (Nas100):

The NASDAQ (04th of January) was around 12910.8 this morning. Under 1-hour-chart technical analysis, the candlestick pulled back sharply as predicted last Thursday (31st), the candlestick is currently rebounding and lying above the middle Bollinger Band again, but the bands contract, so it is likely to decline again after rebounding to the resistance level.

Currently, the short-swing upper resistance level lies between 12920.0~12940.0. The current support level lies between 12780.0~12800.0. Investors who wish to sell short could consider selling between 12870.0~12890.0 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 (4th of January)

(Source: uk.investing.com)

 TimeCurrencyDataImportance
1.09:45CHYCaixin Manufacturing PMI (Dec)★★★
2.16:50EURFrench Manufacturing PMI (Dec)★★★
3.16:55EURGerman Manufacturing PMI (Dec)★★★
4.17:00EURManufacturing PMI (Dec)★★
5.17:30EURSentix Investors’ Confidence (Jan)
6.17:30GBPManufacturing PMI (Dec)★★★
7.17:30GBPMortgage Approvals (Nov)
8.22:45USDManufacturing PMI (Dec)★★
9.23:00USDConstruction Spending (MoM) (Nov)

(Importance: maximum three stars ★★★)

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