Technical Analysis (XAUUSD)

The Forex trading technical analysis reveals that the price of gold (29th of January) was around 1842.1 USD/Ounce early today. Under 1-hour-chart technical analysis, the candlestick pulled back sharply after surging yesterday (28th), it is currently fluctuating around the middle Bollinger Band. The bands are facing downwards and expanding, so it is likely to continue dropping.

Currently, the short-swing upper resistance level lies between 1847.0~1850.0. The current support level lies between 1832.0~1835.0. Investors who wish to sell short could consider selling between 1842.0~1845.0 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 (29th of January) was around 1.21210 early today. Under 1-hour-chart technical analysis, the candlestick rebounded yesterday (28th), it is currently pulling back and lying below the middle Bollinger Band. 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 1.21200~1.21300. The current support level lies between 1.20600~1.20700. Investors who wish to sell short could consider selling between 1.21050~1.21150 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 (29th of January) was around 1.37247 early today. Under 1-hour-chart technical analysis, the candlestick fell sharply as predicted yesterday (28th), but it rallied after touching the bottom. The candlestick is currently lying above the middle Bollinger Band. The bands are facing upwards, so it is likely to continue rebounding.

Currently, the short-swing upper resistance level lies between 1.37500~1.37600. The current support level lies between 1.36900~1.37000. Investors who wish to go long could consider buying between 1.37100~1.37200 in the short-term and setting the stop loss below 1.36950.

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

Technical Analysis (AUDUSD):

The price of AUD/USD (29th of January) was around 0.76745 early today. Under 1-hour-chart technical analysis, the candlestick declined as predicted yesterday (28th), it is currently fluctuating around the middle Bollinger Band. The bands continue to face downwards, so it is likely to decline again after rebounding to the resistance level.

Currently, the short-swing upper resistance level lies between 0.77700~0.77100. The current support level lies between 0.76000~0.76100. Investors who wish to sell short could consider selling between 0.76650~0.76700 in the short-term and setting the stop loss above 0.76800.

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

Technical Analysis (USOUSD):

The price of USO/USD (29th of January) was around 52.08 this morning. Under 1-hour-chart technical analysis, the candlestick fluctuated dramatically yesterday (28th), 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 52.60~52.70. 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 (29th of January) was around 13171.0 this morning. Under 1-hour-chart technical analysis, the candlestick pulled back after surging as predicted yesterday (28th), it is currently rebounding from deep and fluctuating around the middle Bollinger Band. The bands are facing downwards, so it is likely to decline again.

Currently, the short-swing upper resistance level lies between 13280.0~13300.0. The current support level lies between 12940.0~12960.0. Investors who wish to sell short could consider selling between 13160.0~13180.0 in the short-term and setting the stop loss above 13220.0.

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

Economic Calendar (29th of January)

(Source: uk.investing.com)

 TimeCurrencyDataImportance
1.07:30JPYUnemployment Rate (Dec)
2.14:30EURFrench GDP (QoQ) (Q4)★★
3.16:00CHFKOF Leading Indicators (Jan)★★
4.16:55EURGerman Unemployment Change (Jan)★★★
5.16:55EURGerman Unemployment Rate (Jan) German Une★★
6.17:00EURGerman GDP (YoY) (Q4)★★
7.21:30USDCore PCE Price Index (YoY) (Dec)★★
8.21:30USDPersonal Spending (MoM) (Dec)★★
9.21:30USDCore PCE Price Index (MoM) (Dec)★★
10.21:30CADGDP (MoM) (Nov)★★★
11.22:45USDChicago PMI (Jan)★★
12.23:00USDMichigan Consumer Sentiment (Jan)★★
13.23:00USDPending Home Sales (MoM) (Dec)★★★

(Importance: maximum three stars ★★★)

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