Technical Analysis (XAUUSD)

The Forex trading technical analysis reveals that the price of gold (07th of January) was around 1919.7 USD/Ounce early today. Under 1-hour-chart technical analysis, it plummeted after surging as predicted yesterday (6th), then it rebounded after touching the bottom. The candlestick is currently fluctuating 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 1928.0~1930.0. The current support level lies between 1900.0~1902.0. Investors who wish to sell short could consider selling between 1917.0~1919.0 in the short-term and setting the stop loss above 1922.0.

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

Technical Analysis (EURUSD):

The price of EUR/USD (07th of January) was around 1.23271 early today. Under 1-hour-chart technical analysis, it pulled back as predicted yesterday (6th), then it rallied sharply after touching the bottom. The candlestick is currently lying above the middle Bollinger Band. The bands face upwards, so it is likely to rebound again after a pullback.

Currently, the short-swing upper resistance level lies between 1.23600~1.23700. The current support level lies between 1.23000~1.23100. Investors who wish to go long could consider buying between 1.23200~1.23300 in the short-term and setting the stop loss below 1.23050.

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

Technical Analysis (GBPUSD):

The price of GBP/USD (07th of January) was around 1.36073 early today. Under 1-hour-chart technical analysis, it plummeted as predicted yesterday (6th). The candlestick is currently lying between the middle and lower Bollinger Bands. 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 1.36500~1.36600. The current support level lies between 1.35300~1.35400. Investors who wish to sell short could consider selling between 1.35900~1.36000 in the short-term and setting the stop loss above 1.36200.

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

Technical Analysis (AUDUSD):

The price of AUD/USD (07th of January) was around 0.78025 early today. Under 1-hour-chart technical analysis, the candlestick continued rising yesterday (6th), and it is currently fluctuating around the middle Bollinger Band. The bands are contracting, so it is likely to decline after dropping below the middle band’s support level.

Currently, the short-swing upper resistance level lies between 0.78150~0.78250. The current support level lies between 0.77500~0.77600. Investors who wish to sell short could consider selling between 0.77950~0.78000 in the short-term and setting the stop loss above 0.78150.

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

Technical Analysis (USOUSD):

The price of USO/USD (07th of January) was around 50.41 this morning. Under 1-hour-chart technical analysis, it fluctuated dramatically yesterday (6th). The candlestick is currently rebounding and lying above the middle Bollinger Band. 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 51.20~51.30. The current support level lies between 50.00~50.10. Investors who wish to go long could consider buying between 50.60~50.70 in the short-term and setting the stop loss below 50.40.

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

Technical Analysis (Nas100):

The NASDAQ (07th of January) was around 12671.9 this morning. Under 1-hour-chart technical analysis, the candlestick plummeted as predicted yesterday (6th). The candlestick is currently fluctuating around the middle Bollinger Band after rebounding from deep. 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 12790.0~12810.0. The current support level lies between 12620.0~12640.0. Investors who wish to sell short could consider selling between 12740.0~12760.0 in the short-term and setting the stop loss above 12780.0.

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

Economic Calendar (7th of January)

(Source: uk.investing.com)

 TimeCurrencyDataImportance
1.08:30CHFRetail Sales (YoY) (Nov)★★
2.09:00CHYFX Reserves (USD)
3.11:00EURCPI (YoY) (Dec)★★★
4.11:00EURCPI n.s.a (Dec)
5.11:00EURIndustrial Sentiment (Dec)
6.11:00EURConsumer Confidence (Dec)
7.11:00EURBusiness Climate (Dec)★★★
8.11:00EURRetail Sales (MoM) (Nov)★★
9.13:30USDChallengers Job Cuts (Dec)
10.14:30USDInitial Jobless Claims★★★
11.14:30USDTrade Balance (Nov)★★
12.16:00USDISM Non-Manufacturing PMI (Dec)★★★
13.16:30USDNatural Gas Storage

(Importance: maximum three stars ★★★)

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