Technical Analysis (XAUUSD)

The Forex trading technical analysis reveals the price of gold (08th of January) was around 1914.7 USD/Ounce early today. Under 1-hour-chart technical analysis, it declined again after rebounding to the resistance level as predicted yesterday (7th). The candlestick is currently lying between the middle and lower Bollinger Bands. 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 1922.0~1925.0. The current support level lies between 1900.0~1903.0. Investors who wish to sell short could consider selling between 1911.0~1913.0 in the short-term and setting the stop loss above 1916.5.

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

Technical Analysis (EURUSD):

The price of EUR/USD (08th of January) was around 1.22649 early today. Under 1-hour-chart technical analysis, it pulled back sharply after failing to surge yesterday (7th). The candlestick is currently 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 1.22700~1.22800. The current support level lies between 1.22000~1.22100. Investors who wish to sell short could consider selling between 1.22500~1.22600 in the short-term and setting the stop loss above 1.22700.

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

Technical Analysis (GBPUSD):

The price of GBP/USD (08th of January) was around 1.35610 early today. Under 1-hour-chart technical analysis, it pulled back again as predicted yesterday (7th). The candlestick is currently lying between the middle and lower Bollinger Bands. The bands continue facing downward and expanding, so it is likely to decline again after rebounding to the resistance level.

Currently, the short-swing upper resistance level lies between 1.35800~1.36000. The current support level lies between 1.34700~1.34900. Investors who wish to sell short could consider selling between1.35500~1.35650 in the short-term and setting the stop loss above 1.35800.

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

Technical Analysis (AUDUSD):

The price of AUD/USD (08th of January) was around 0.77598 early today. Under 1-hour-chart technical analysis, the candlestick pulled back sharply after a surge as predicted yesterday (7th), it is currently 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 0.77750~0.77850. The current support level lies between 0.76900~0.77000. Investors who wish to sell short could consider selling between 0.77500~0.77600 in the short-term and setting the stop loss above 0.77750.

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

Technical Analysis (USOUSD):

The price of USO/USD (08th of January) was around 50.85 this morning. Under 1-hour-chart technical analysis, it rebounded again after a pullback as predicted yesterday (7th). The candlestick is currently fluctuating above the middle Bollinger Band. The bands are contracting, so it is likely to fall again after dropping below the middle band.

Currently, the short-swing upper resistance level lies between 51.30~51.40. The current support level lies between 49.60~49.70. Investors who wish to sell short could consider selling between 50.70~50.85 in the short-term and setting the stop loss above 51.00.

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

Technical Analysis (Nas100):

The NASDAQ (08th of January) was around 12943.9 this morning. Under 1-hour-chart technical analysis, the candlestick skyrocketed yesterday (7th), breaking out the high point. The candlestick is currently fluctuating slightly on the top after the surge. It is likely to pull back again after rebounding to the resistance level. 

Currently, the short-swing upper resistance level lies between 13020.0~13040.0. The current support level lies between 12850.0~12870.0. Investors who wish to sell short could consider selling between 12950.0~12970.0 in the short-term and setting the stop loss above 13000.0.

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

Economic Calendar (8th of January)

(Source: uk.investing.com)

 TimeCurrencyDataImportance
1.07:45CHFUnemployment Rate n.s.a. (Dec)★★
2.08:00EURGerman Industrial Production (MoM) (Nov)★★
3.08:00EURGerman Current Account Balance n.s.a. (Nov)
4.08:00EURGerman Trade Balance (Nov)★★★
5.08:45EURFrench Industrial Production (MoM) (Nov)
6.08:45EURFrench Trade Balance (Nov)
7.09:30GBPHalifax House Price Index (MoM) (Dec)★★
8.11:00EURUnemployment Rate (Nov)★★
9.14:30USDUnemployment Rate (Dec)★★★
10.14:30USDNonfarm Payrolls (Dec)★★★
11.14:30CADUnemployment Rate (Dec)★★★
12.16:00USDWholesale Trade Sales (MoM) (Nov)

(Importance: maximum three stars ★★★)

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