Technical Analysis (XAUUSD)

The Forex trading technical analysis reveals that the price of gold (1st of February) was around 1864.8 USD/Ounce early today. Under 1-hour-chart technical analysis, the candlestick pulled back sharply after surging as predicted last Friday (29th), it is currently rebounding the lying above the middle Bollinger Band. The bands are facing upwards and expanding, so it is likely to continuing rebounding.

Currently, the short-swing upper resistance level lies between 1872.0~1874.0. The current support level lies between 1850.0~1852.0. Investors who wish to go long could consider buying between 1857.0~1859.0 in the short-term and setting the stop loss below 1854.0.

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

Technical Analysis (EURUSD):

The price of EUR/USD (1st of February) was around 1.21282 early today. Under 1-hour-chart technical analysis, the candlestick rebounded from deep last Friday (29th), 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 1.21500~1.21600. The current support level lies between 1.20800~1.20900. Investors who wish to sell short could consider selling between 1.21250~1.21350 in the short-term and setting the stop loss above 1.21500.

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

Technical Analysis (GBPUSD):

The price of GBP/USD (1st of February) was around 1.37040 early today. Under 1-hour-chart technical analysis, the candlestick rebounded as predicted last Friday (29th), it 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 1.37500~1.37600. The current support level lies between 1.36800~1.36900. Investors who wish to go long could consider buying between 1.37200~1.37250 in the short-term and setting the stop loss below 1.37050.

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

Technical Analysis (AUDUSD):

The price of AUD/USD (1st of February) was around 0.76263 early today. Under 1-hour-chart technical analysis, the candlestick dropped as predicted last Friday (29th), it is currently fluctuating below 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 0.76600~0.76700. The current support level lies between 0.75900~0.76000. Investors who wish to sell short could consider selling between 0.76400~0.76480 in the short-term and setting the stop loss above 0.76550.

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

Technical Analysis (USOUSD):

The price of USO/USD (1st of February) was around 51.95 this morning. Under 1-hour-chart technical analysis, the candlestick declined again after rebounding to the resistance level as predicted last Friday (29th), 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 52.70~52.80. The current support level lies between 51.20~51.30. Investors who wish to sell short could consider selling between 52.20~52.35 in the short-term and setting the stop loss above 52.50.

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

Technical Analysis (Nas100):

The NASDAQ (1st of February) was around 12862.0 this morning. Under 1-hour-chart technical analysis, the candlestick plummeted as predicted last Friday (29th), it is currently fluctuating below the middle Bollinger Band after rebounding from deep. The bands continue to face downwards, so it is likely drop again after rebounding to the resistance level.

Currently, the short-swing upper resistance level lies between 13050.0~13080.0. The current support level lies between 12740.0~12770.0. Investors who wish to sell short could consider selling between 12940.0~12970.0 in the short-term and setting the stop loss above 13010.0.

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

Economic Calendar (01th of February)

(Source: uk.investing.com)

 TimeCurrencyDataImportance
1.02:45CHYCaixin Manufacturing PMI (Jan)★★★
2.08:30CHFRetail Sales (YoY) (Dec)★★
3.09:50EURFrench Manufacturing PMI (Dec)★★
4.09:55EURGerman Manufacturing PMI (Jan)★★★
5.10:00EURManufacturing PMI (Jan)★★
6.10:30GBPManufacturing PMI (Jan)★★★
7.10:30GBPMortgage Approvals (Dec)
8.11:00EURUnemployment Rate (Dec)★★
9.15:45USDManufacturing PMI (Jan)★★
10.16:00USDISM Manufacturing PMI (Jan)★★★
11.16:00USDConstruction Spending (MoM) (Dec)

(Importance: maximum three stars ★★★)

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