Technical Analysis (XAUUSD)

The Forex trading technical analysis for the price of gold (12th of January) reveals it was around 1844.8 USD/Ounce early today. Under 1-hour-chart technical analysis, it continued to decline as predicted yesterday (11th). The candlestick is currently fluctuating around the middle Bollinger Band. The bands are contracting and facing downwards, so it is likely to decline again after rebounding to the resistance level.

Currently, the short-swing upper resistance level lies between 1875.0~1878.0. The current support level lies between 1825.0~1828.0. Investors who wish to sell short could consider selling between 1841.0~1844.0 in the short-term and setting the stop loss above 1848.0.

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

Technical Analysis (EURUSD):

The price of EUR/USD (12th of January) was around 1.21519 early today. Under 1-hour-chart technical analysis, it dropped sharply again as predicted yesterday (11th). The candlestick is currently lying between the middle and lower Bollinger Bands. The bands are facing downwards and expanding, so it is likely to fall again after rebounding to the resistance level.

Currently, the short-swing upper resistance level lies between 1.22000~1.22100. The current support level lies between 1.21100~1.21200. Investors who wish to sell short could consider selling between 1.21500~1.21600 in the short-term and setting the stop loss above 1.21750.

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

Technical Analysis (GBPUSD):

The price of GBP/USD (12th of January) was around 1.35054 early today. Under 1-hour-chart technical analysis, it continued to drop sharply as predicted yesterday (11th). The candlestick is currently 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 1.35500~1.35600. The current support level lies between 1.34500~1.34600. Investors who wish to sell short could consider selling between 1.35100~1.35200 in the short-term and setting the stop loss above 1.35350.

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

Technical Analysis (AUDUSD):

The price of AUD/USD (12th of January) was around 0.76956 early today. Under 1-hour-chart technical analysis, the candlestick plummeted as predicted yesterday (11th), it is currently lying between the middle and lower Bollinger Bands. The bands continue facing downwards and expanding, so it is likely to fall again after rebounding to the resistance level.

Currently, the short-swing upper resistance level lies between 0.77300~0.77400. The current support level lies between 0.76500~0.76600. Investors who wish to sell short could consider selling between 0.76950~0.77000 in the short-term and setting the stop loss above 0.77100.

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

Technical Analysis (USOUSD):

The price of USO/USD (12th of January) was around 52.11 this morning. Under 1-hour-chart technical analysis, it rebounded after a pullback as predicted yesterday (11th). The candlestick is currently fluctuating around the middle Bollinger Band. The bands are contracting, so it is likely to pull back again after rebounding to the resistance level.

Currently, the short-swing upper resistance level lies between 52.70~52.80. The current support level lies between 50.40~50.50. Investors who wish to sell short could consider selling between 52.25~52.35 in the short-term and setting the stop loss above 52.55.

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

Technical Analysis (Nas100):

The NASDAQ (12th of January) was around 12930.1 this morning. Under 1-hour-chart technical analysis, it pulled back sharply after surging to the resistance level yesterday (11th). The candlestick is currently 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 13000.0~13020.0. The current support level lies between 12820.0~12840.0. Investors who wish to sell short could consider selling between 12940.0~12960.0 in the short-term and setting the stop loss above 12990.0.

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

Economic Calendar (12th of January)

(Source: uk.investing.com)

 TimeCurrencyDataImportance
1.00:50JPYCurrent Account n.s.a. (Nov)★★
2.12:00USDNFIB Small Business Optimism (Dec)

(Importance: maximum three stars ★★★)

The views or opinions as expressed in the above article represent the personal views or opinions of the author and do not represent those of IV Markets Limited (“IV Markets”). IV Markets has no obligation to independently check or verify the author of the article and the information provided in the article. Accordingly, IV MARKETS does not take responsibility for such article.

This material is for general information purposes only and is not intended as (and should not be considered to be) financial, investment or other advice on which reliance should be placed. IV Markets is not authorized to provide investment advice. No opinion given in the material constitutes a recommendation by IV Markets or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.

Trading with IV Markets can result in losses that exceed your deposits. Consumers should ensure they understand the risk and seek independent financial advice if necessary.

IV Markets is designed for clients to trade in the forex market, it is regulated by the Seychelles Financial Authority (FSA), license number: SD049.