Technical Analysis (XAUUSD)

The Forex trading technical analysis reveals that the price of gold (06th of January) was around 1949.9 USD/Ounce early today. Under 1-hour-chart technical analysis, it continued skyrocketing yesterday (5th), the candlestick is fluctuating 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 1952.0~1954.0. The current support level lies between 1920.0~1922.0. Investors who wish to sell short could consider selling between 1947.0~1949.0 in the short-term and setting the stop loss above 1951.0.

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

Technical Analysis (EURUSD):

The price of EUR/USD (06th of January) was around 1.22955 early today. Under 1-hour-chart technical analysis, it skyrocketed yesterday (5th), but pulled back sharply after breaking out the high point. The candlestick is currently fluctuating around the middle Bollinger Band, so it is likely to decline again after rebounding to the resistance level.

Currently, the short-swing upper resistance level lies between 1.23100~1.23200. The current support level lies between 1.22500~1.22600. Investors who wish to sell short could consider selling between 1.22900~1.23000 in the short-term and setting the stop loss above 1.23150.

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

Technical Analysis (GBPUSD):

The price of GBP/USD (06th of January) was around 1.36219 early today. Under 1-hour-chart technical analysis, the candlestick rebounded after touching the bottom yesterday (5th), it is currently fluctuating around 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 1.36500~1.36600. The current support level lies between 1.35400~1.35500. Investors who wish to sell short could consider selling between 1.36100~1.36200 in the short-term and setting the stop loss above 1.36400.

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

Technical Analysis (AUDUSD):

The price of AUD/USD (06th of January) was around 0.77536 early today. Under 1-hour-chart technical analysis, it continued skyrocketing yesterday (5th). The candlestick is currently fluctuating around the middle Bollinger Band after pulling back from high. 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 0.77700~0.77800. The current support level lies between 0.77000~0.77100. Investors who wish to sell short could consider selling between 0.77500~0.77600 in the short-term and setting the stop loss above 0.77700.

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

Technical Analysis (USOUSD):

The price of USO/USD (06th of January) was around 49.73 this morning. Under 1-hour-chart technical analysis, it skyrocketed yesterday (5th) and broke out the swing high. The candlestick is currently fluctuating slightly in the high point, so it is likely to pull back from high.

Currently, the short-swing upper resistance level lies between 50.50~50.60. The current support level lies between 48.70~48.80. Investors who wish to sell short could consider selling between 49.90~50.00 in the short-term and setting the stop loss above 50.20.

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

Technical Analysis (Nas100):

The NASDAQ (06th of January) was around 12815.8 this morning. Under 1-hour-chart technical analysis, it fluctuated dramatically yesterday (5th), then the candlestick surged again, it is currently pulling back sharply and lying below the middle Bollinger Band. It is likely to drop again after rebounding to the resistance level.

Currently, the short-swing upper resistance level lies between 12770.0~12790.0. The current support level lies between 12580.0~12600.0. Investors who wish to sell short could consider selling between 12730.0~12750.0 in the short-term and setting the stop loss above 12780.0.

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

Economic Calendar (6th of January)

(Source: uk.investing.com)

 TimeCurrencyDataImportance
1.09:45CHYCaixin Services PMI (Dec)★★
2.15:45EURFrench CPI (MoM) (Dec)★★
3.16:50EURFrench Services PMI (Dec)★★
4.16:55EURGerman Services PMI (Dec)★★
5.17:00EURServices PMI (Dec)★★
6.17:30GBPServices PMI (Dec)★★★
7.18:00EURPPI (MoM) (Nov)
8.21:00EURGerman CPI (MoM) (Dec)★★
9.21:15USDADP Nonfarm Employment Change (Dec)★★★
10.22:45USDMarkit Composite PMI (Dec)★★
11.23:00USDFactory Orders (MoM) (Nov)★★
12.23:30USDEIA Weekly Distillates Stocks

(Importance: maximum three stars ★★★)

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