Technical Analysis (XAUUSD)

The Forex trading technical analysis reveals that the price of gold (21st of January) was around 1871.4 USD/Ounce early today. Under 1-hour-chart technical analysis, it rose sharply again after a pullback as predicted yesterday (20th). The candlestick is currently lying between the middle and upper Bollinger Bands. The bands are facing upwards and expanding, so it is likely to continue rebounding.

Currently, the short-swing upper resistance level lies between 1875.0~1878.0. The current support level lies between 1857.0~1860.0. Investors who wish to go long could consider buying between 1863.0~1865.0 in the short-term and setting the stop loss below 1860.0.

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

Technical Analysis (EURUSD):

The price of EUR/USD (21st of January) was around 1.21090 early today. Under 1-hour-chart technical analysis, the candlestick plummeted after surging to the resistance level yesterday (20th), it is currently fluctuating around the middle Bollinger Band with a rebound. The bands are facing downwards, so it is likely to decline again after rebounding to the resistance level.

Currently, the short-swing upper resistance level lies between 1.21500~1.21600. The current support level lies between 1.20800~1.20900. Investors who wish to sell short could consider selling between 1.21200~1.21300 in the short-term and setting the stop loss above 1.21400.

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

Technical Analysis (GBPUSD):

The price of GBP/USD (21st of January) was around 1.36531 early today. Under 1-hour-chart technical analysis, it continued rebounding as predicted yesterday (20th). The candlestick is currently lying between the middle and upper Bollinger Bands. The bands continue facing upwards, so it is likely to rebound again after a pullback.

Currently, the short-swing upper resistance level lies between 1.37000~1.37100. The current support level lies between 1.36200~1.36300. Investors who wish to go long could consider buying between 1.36600~1.36700 in the short-term and setting the stop loss below 1.36500.

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

Technical Analysis (AUDUSD):

The price of AUD/USD (21st of January) was around 0.77465 early today. Under 1-hour-chart technical analysis, the candlestick continued rebounding as predicted yesterday (20th), it is currently lying between the middle and upper Bollinger Bands. The bands continue facing upwards, so it is likely to rebound again after a pullback.

Currently, the short-swing upper resistance level lies between 0.77950~0.78000. The current support level lies between 0.77400~0.77450. Investors who wish to go long could consider buying between 0.77600~0.77650 in the short-term and setting the stop loss below 0.77520.

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

Technical Analysis (USOUSD):

The price of USO/USD (21st of January) was around 52.89 this morning. Under 1-hour-chart technical analysis, the candlestick pulled back after surging to the resistance level yesterday (20th), it is currently lying between the middle and lower Bollinger Bands. The bands are facing downwards, so it is likely to decline again after rebounding to the resistance level.

Currently, the short-swing upper resistance level lies between 53.30~53.40. The current support level lies between 52.40~52.50. Investors who wish to sell short could consider selling between 53.00~53.15 in the short-term and setting the stop loss above 53.25.

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

Technical Analysis (Nas100):

The NASDAQ (21st of January) was around 13306.7 this morning. Under 1-hour-chart technical analysis, the candlestick skyrocketed yesterday (20th), it is currently continue surging, but investors should be aware of the reversal risk after a sharp rally, so it is likely to pull back.

Currently, the short-swing upper resistance level lies between 13410.0~13430.0. The current support level lies between 13260.0~13280.0. Investors who wish to sell short could consider selling between 13380.0~13390.0 in the short-term and setting the stop loss above 13410.0.

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

Economic Calendar (21st of January)

(Source: uk.investing.com)

 TimeCurrencyDataImportance
1.01:30AUDUnemployment Rate (Dec)★★
2.04:00JPYBoJ Outlook Report (YoY)★★
3.04:00JPYBoJ Interest Rate Decision★★★
4.12:00GBPCBI Industrial Trends Orders (Jan)★★
5.13:45EURECB Interest Rate Decision (Jan)★★★
6.14:30USDInitial Jobless Claims★★★
7.14:30USDHousing Starts (Dec)★★
8.14:30USDBuilding Permits (Dec)★★★
9.14:30USDPhiladelphia Fed Manufacturing Index★★★

(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.