Technical Analysis (XAUUSD)

The Forex trading technical analysis for the price of gold (05th of January) reveals it was around 1942.2 USD/Ounce early today. Under 1-hour-chart technical analysis, it skyrocketed again as predicted yesterday (4th). The candlestick is currently fluctuating at the high point and lying around the middle Bollinger Band. The bands face downwards, so it is likely to decline after rebounding to the resistance level.

Currently, the short-swing upper resistance level lies between 1945.0~1947.0. The current support level lies between 1920.0~1922.0. Investors who wish to sell short could consider selling between 1938.0~1940.0 in the short-term and setting the stop loss above 1944.0.

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

Technical Analysis (EURUSD):

The price of EUR/USD (05th of January) was around 1.22499 early today. Under 1-hour-chart technical analysis, it rallied after touching the bottom as predicted yesterday (4th), then it plummeted. The candlestick is currently rebounding from deep and lying below the middle Bollinger Band. The rebound is weak, so it is likely to decline again after rebounding to the resistance level.

Currently, the short-swing upper resistance level lies between 1.22800~1.22900. The current support level lies between 1.22200~1.22300. Investors who wish to sell short could consider selling between 1.22600~1.22700 in the short-term and setting the stop loss above 1.22850.

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

Technical Analysis (GBPUSD):

The price of GBP/USD (05th of January) was around 1.35728 early today. Under 1-hour-chart technical analysis, it plummeted after surging and fluctuating at the high point as predicted yesterday (4th). The candlestick is currently rebounding and lying below the middle Bollinger Band. The bands continue facing downwards, so it is likely to decline again after rebounding to the resistance level.

Currently, the short-swing upper resistance level lies between 1.36300~1.36400. The current support level lies between 1.35000~1.35100. Investors who wish to sell short could consider selling between 1.36000~1.36100 in the short-term and setting the stop loss above 1.36300.

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

Technical Analysis (AUDUSD):

The price of AUD/USD (05th of January) was around 0.76679 early today. Under 1-hour-chart technical analysis, it pulled back sharply after surging to the resistance level as predicted yesterday (4th). The candlestick is currently rebounding from deep and fluctuating around the middle Bollinger Band. The bands continue facing downwards, so it is likely to decline again after rebounding to the resistance level.

Currently, the short-swing upper resistance level lies between 0.77200~0.77300. 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 (05th of January) was around 47.30 this morning. Under 1-hour-chart technical analysis, it skyrocketed after breaking out the resistance level as predicted yesterday (4th), then it plunged after surging to the higher resistance level. The candlestick is currently rebounding and lying below the middle Bollinger Band. The bands face downwards, so it is likely to drop again after rebounding to the resistance level.

Currently, the short-swing upper resistance level lies between 48.40~48.50. The current support level lies between 46.40~46.50. Investors who wish to sell short could consider selling between 47.60~47.80 in the short-term and setting the stop loss above 48.10.

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

Technical Analysis (Nas100):

The NASDAQ (05th of January) was around 12698.5 this morning. Under 1-hour-chart technical analysis, the candlestick plummeted after fluctuating near the high point as predicted yesterday (4th). The candlestick is currently rebounding from deep 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 12790.0~12810.0. The current support level lies between 12600.0~12620.0. Investors who wish to sell short could consider selling between 12740.0~12760.0 in the short-term and setting the stop loss above 12800.0.

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

Economic Calendar (5th of January)

(Source: uk.investing.com)

 TimeCurrencyDataImportance
1.08:30CHFCPI (MoM) (Dec)★★
2.09:55EURGerman Unemployment Change (Dec)★★★
3.09:55EURGerman Unemployment n.s.a. (Dec)
4.16:00USDISM Manufacturing PMI (Dec)★★★

(Importance: maximum three stars ★★★)

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