Technical Analysis (XAUUSD)

The Forex Trading Technical Analysis for the price of gold (22nd of January) reveals it was around 1869.5 USD/Ounce early today. Under 1-hour-chart technical analysis, the candlestick pulled back after surging to the resistance level yesterday (21st), it is currently lying between the middle and lower Bollinger Bands. The bands are facing downwards, so it is likely to decline again.

Currently, the short-swing upper resistance level lies between 1877.0~1880.0. The current support level lies between 1858.0~1861.0. Investors who wish to sell short could consider selling between 1867.0~1868.0 in the short-term and setting the stop loss above 1871.0.

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

Technical Analysis (EURUSD):

The price of EUR/USD (22nd of January) was around 1.21669 early today. Under 1-hour-chart technical analysis, the candlestick rebounded again after a pullback yesterday (21st), it is currently rebounding and lying between the middle and upper Bollinger Bands. The bands are facing upwards, so it is likely to rebound again after a pullback.

Currently, the short-swing upper resistance level lies between 1.22000~1.22100. The current support level lies between 1.21500~1.21600. Investors who wish to go long could consider buying between 1.21650~1.21700 in the short-term and setting the stop loss below 1.21550.

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

Technical Analysis (GBPUSD):

The price of GBP/USD (22nd of January) was around 1.37308 early today. Under 1-hour-chart technical analysis, it continued rebounding as predicted yesterday (21st). The candlestick is currently pulling back and lying between the middle and lower Bollinger Bands. The bands are facing downwards, so it is likely to drop again after a rebound.

Currently, the short-swing upper resistance level lies between 1.37400~1.37500. The current support level lies between 1.36800~1.36900. Investors who wish to sell short could consider selling between 1.37100~1.37200 in the short-term and setting the stop loss above 1.37350.

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

Technical Analysis (AUDUSD):

The price of AUD/USD (22nd of January) was around 0.77633 early today. Under 1-hour-chart technical analysis, the candlestick pulled back after a continued rebound to the resistance level yesterday (21st), it is currently lying between middle and lower Bollinger Bands. The bands are facing downwards and expanding, so it is likely to decline again after rebounding to the resistance level.

Currently, the short-swing upper resistance level lies between 0.77700~0.77750. The current support level lies between 0.77100~0.77150. Investors who wish to sell short could consider selling between 0.77400~0.77450 in the short-term and setting the stop loss above 0.77520.

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

Technical Analysis (USOUSD):

The price of USO/USD (22nd of January) was around 53.06 this morning. Under 1-hour-chart technical analysis, the candlestick declined again after rebounding to the resistance level as predicted yesterday (21st), 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 52.00~52.10. Investors who wish to sell short could consider selling between 52.60~52.75 in the short-term and setting the stop loss above 52.90.

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

Technical Analysis (Nas100):

The NASDAQ (22nd of January) was around 13412.2 this morning. Under 1-hour-chart technical analysis, the candlestick is currently pulling back as predicted yesterday (21st), it is currently lying between the middle and lower Bollinger Bands. The bands are facing downwards, so it is likely to drop.

Currently, the short-swing upper resistance level lies between 13430.0~13450.0. The current support level lies between 13280.0~13300.0. Investors who wish to sell short could consider selling between 13370.0~13390.0 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 (22nd of January)

(Source: uk.investing.com)

 TimeCurrencyDataImportance
1.00:30JPYCPI n.s.a. (MoM) (Dec)
2.07:01GBPGfk Consumer Confidence
3.08:00GBPRetail Sales (MoM) (Dec)★★★
4.09:15EURFrench Manufacturing PMI (Jan)★★
5.09:30EURGerman Manufacturing PMI (Jan)★★★
6.10:00EURManufacturing PMI (Jan)★★
7.10:30GBPManufacturing PMI (Jan)★★★
8.10:30GBPService PMI (Jan)★★★
9.14:30CADRetail Sales (MoM) (Nov)★★★
10.15:45USDManufacturing PMI (Jan)★★
11.15:45USDServices PMI (Jan)★★
12.16:00USDExisting Home Sales (Dec)★★★
13.16:30USDNatural Gas Storage

(Importance: maximum three stars ★★★)

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