Technical Analysis (XAUUSD)

The Forex trading technical analysis for the price of gold (19th of January) reveals it was around 1838.2 USD/Ounce early today. Under 1-hour-chart technical analysis, it rebounded as predicted yesterday (18th). The candlestick is currently lying between the middle and upper Bollinger Bands. The bands are facing upwards, so it is likely to continue rebounding.

Currently, the short-swing upper resistance level lies between 1852.0~1854.0. The current support level lies between 1818.0~1820.0. Investors who wish to go long could consider buying between 1836.0~1838.0 in the short-term and setting the stop loss below 1833.0.

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

Technical Analysis (EURUSD):

The price of EUR/USD (19th of January) was around 1.20762 early today. Under 1-hour-chart technical analysis, the candlestick rebounded after touching the bottom yesterday (18th). The candlestick is currently lying above the middle Bollinger Band. The bands are facing downwards and expanding, but must pay attention to the descending channel, so it is likely to decline again after rebounding to the resistance level.

Currently, the short-swing upper resistance level lies between 1.21200~1.21300. The current support level lies between 1.20600~1.20700. Investors who wish to sell short could consider selling between 1.21050~1.21100 in the short-term and setting the stop loss above 1.21250.

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

Technical Analysis (GBPUSD):

The price of GBP/USD (19th of January) was around 1.35786 early today. Under 1-hour-chart technical analysis, it rebounded from deep as predicted yesterday (18th). The candlestick is currently lying between the middle and upper Bollinger Bands. The bands are facing upwards and expanding, so it is likely to rebound again after a pullback.

Currently, the short-swing upper resistance level lies between 1.36500~1.36600. The current support level lies between 1.35700~1.35800. Investors who wish to go long could consider buying between 1.36000~1.36100 in the short-term and setting the stop loss below 1.35900.

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

Technical Analysis (AUDUSD):

The price of AUD/USD (19th of January) was around 0.76772 early today. Under 1-hour-chart technical analysis, the candlestick rebounded after touching the bottom yesterday (18th). It is currently lying between the middle and upper Bollinger Bands. The bands are facing upwards and expanding, so it is likely to rebound again after a pullback.

Currently, the short-swing upper resistance level lies between 0.77400~0.77500. The current support level lies between 0.76700~0.76800. Investors who wish to go long could consider buying between 0.77050~0.77100 in the short-term and setting the stop loss below 0.76900.

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

Technical Analysis (USOUSD):

The price of USO/USD (19th of January) was around 52.11 this morning. Under 1-hour-chart technical analysis, the candlestick fluctuated slightly yesterday (18th), it is currently lying near the middle Bollinger Band. The bands are contracting, so it is likely to decline after dropping below the middle band.

Currently, the short-swing upper resistance level lies between 52.70~52.80. The current support level lies between 51.40~51.50. Investors who wish to sell short could consider selling between 52.35~52.45 in the short-term and setting the stop loss above 52.65.

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

Technical Analysis (Nas100):

The NASDAQ (19th of January) was around 12826.3 this morning. Under 1-hour-chart technical analysis, the candlestick rebounded yesterday (18th). It is currently continuing rising and lying above the middle Bollinger Band. Although the bands are facing upwards, there is a upper descending resistance line, it is likely to pull back again after rebounding to the resistance level.

Currently, the short-swing upper resistance level lies between 12970.0~13000.0. The current support level lies between 12760.0~12790.0. Investors who wish to sell short could consider selling between 12910.0~12930.0 in the short-term and setting the stop loss above 12960.0.

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

Economic Calendar (19th of January)

(Source: uk.investing.com)

 TimeCurrencyDataImportance
1.15:00EURGerman CPI (MoM) (Dec)★★★
2.17:00EURCurrent Account n.s.a. (Nov)
3.18:00EURGerman ZEW Economic Sentiment★★★
4.18:00EURZEW Economic Sentiment (Jan)★★
5.21:30CADWholesale Sales (MoM) (Nov)★★

(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.