Technical Analysis (XAUUSD)

The Forex trading technical analysis for the price of gold (3rd of February) reveals that it was around 1837.7 USD/Ounce early today. Under 1-hour-chart technical analysis, the candlestick plummeted yesterday (2nd), it is currently rebounding and lying between the middle and upper Bollinger Bands after touching the bottom. 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 1839.0~1841.0. Investors who wish to go long could consider buying between 1842.0~1844.0 in the short-term and setting the stop loss below 1839.5.

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

Technical Analysis (EURUSD):

The price of EUR/USD (3rd of February) was around 1.20432 early today. Under 1-hour-chart technical analysis, the candlestick plummeted as predicted yesterday (2nd), it also dropped below the swing low. The candlestick is currently rebounding and fluctuating around the middle Bollinger Band after touching the bottom. 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 1.20700~1.20800. The current support level lies between 1.20200~1.20300. Investors who wish to sell short could consider selling between 1.20550~1.20650 in the short-term and setting the stop loss above 1.20750.

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

Technical Analysis (GBPUSD):

The price of GBP/USD (3rd of February) was around 1.36654 early today. Under 1-hour-chart technical analysis, the candlestick plummeted again yesterday (2nd), it is currently rebounding sharply after touching the bottom. The candlestick is currently lying between the middle and upper Bollinger Bands. The bands are facing upwards, so it is likely to rebound.

Currently, the short-swing upper resistance level lies between 1.37000~1.37100. The current support level lies between 1.36400~1.36500. Investors who wish to go long could consider buying between 1.36700~1.36780 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 (3rd of February) was around 0.76057 early today. Under 1-hour-chart technical analysis, the candlestick plummeted as predicted yesterday (2nd), it is currently rebounding and lying above the middle Bollinger Band. The bands are facing upwards, so it is currently continue rebounding.

Currently, the short-swing upper resistance level lies between 0.76350~0.76400. The current support level lies between 0.75800~0.75850. Investors who wish to go long could consider buying between 0.76050~0.76150 in the short-term and setting the stop loss below 0.75950.

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

Technical Analysis (USOUSD):

The price of USO/USD (3rd of February) was around 55.02 this morning. Under 1-hour-chart technical analysis, the candlestick continued surging yesterday (2nd), it is currently fluctuating slightly in the high point and it is expected to pull back from high. It is likely to decline again after rebounding to the resistance level.

Currently, the short-swing upper resistance level lies between 55.20~55.30. The current support level lies between 54.00~54.10. Investors who wish to sell short could consider selling between 54.82~54.95 in the short-term and setting the stop loss above 55.10.

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

Technical Analysis (Nas100):

The NASDAQ (3rd of February) was around 13524.5 this morning. Under 1-hour-chart technical analysis, the candlestick continued surging yesterday (2nd), it is currently fluctuating slightly around the middle Bollinger Band. The bands are contracting, so it is likely to drop again after rebounding to the resistance level.

Currently, the short-swing upper resistance level lies between 13550.0~13580.0. The current support level lies between 13280.0~13300.0. Investors who wish to sell short could consider selling between 13510.0~13530.0 in the short-term and setting the stop loss above 13540.0.

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

Economic Calendar (03rd of February)

(Source: uk.investing.com)

 TimeCurrencyDataImportance
1.02:45CHYCaixin Services PMI (Jan)★★
2.09:50EURFrench Services PMI (Jan)★★
3.09:55EURGerman Services PMI (Jan)★★
4.10:00EURServices PMI (Jan)★★
5.10:30GBPServices PMI (Jan)★★★
6.11:00EURCPI (YoY) (Jan)★★★
7.11:00EURPPI (MoM) (Dec)
8.14:15USDADP Nonfarm Employment Change (Jan)★★★
9.15:45USDServices PMI (Jan)★★
10.16:00USDISM Non-Manufacturing PMI (Jan)★★★
11.16:30USDEIA Refinery Crude Runs (WoW)

(Importance: maximum three stars ★★★)

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