Technical Analysis (XAUUSD)

The Forex trading technical analysis for the price of gold (8th of February) reveals it was around 1816.6 USD/Ounce early today. Under 1-hour-chart technical analysis, the candlestick rebounded from the bottom as predicted last Friday (5th), it is currently lying between the middle and upper Bollinger Bands. The bands continue facing upwards, so it is likely to continue rebounding.

Currently, the short-swing upper resistance level lies between 1829.0~1831.0. The current support level lies between 1803.0~1805.0. Investors who wish to go long could consider buying between 1811.0~1813.0 in the short-term and setting the stop loss below 1807.5.

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

Technical Analysis (EURUSD):

The price of EUR/USD (8th of February) was around 1.20425 early today. Under 1-hour-chart technical analysis, the candlestick skyrocketed as predicted last Friday (5th), it is currently lying between the middle and upper Bollinger Bands. The bands are contracting, so it is likely to rebound again after a pullback.

Currently, the short-swing upper resistance level lies between 1.20800~1.20900. The current support level lies between 1.20100~1.20200. Investors who wish to go long could consider buying between 1.20350~1.20450 in the short-term and setting the stop loss below 1.20200.

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

Technical Analysis (GBPUSD):

The price of GBP/USD (8th of February) was around 1.37249 early today. Under 1-hour-chart technical analysis, the candlestick rebounded sharply again after a pullback last Friday (5th), it is currently lying between the middle and upper Bollinger Bands. The bands continue facing upwards, so it is likely to continue rebounding.

Currently, the short-swing upper resistance level lies between 1.37600~1.37700. The current support level lies between 1.37000~1.37100. Investors who wish to go long could consider buying between 1.37250~1.37350 in the short-term and setting the stop loss below 1.37100.

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

Technical Analysis (AUDUSD):

The price of AUD/USD (8th of February) was around 0.76690 early today. Under 1-hour-chart technical analysis, the candlestick rebounded from the bottom last Friday (5th), it is currently 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 0.77050~0.77100. The current support level lies between 0.76500~0.76550. Investors who wish to go long could consider buying between 0.76680~0.76750 in the short-term and setting the stop loss below 0.76600.

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

Technical Analysis (USOUSD):

The price of USO/USD (8th of February) was around 57.01 this morning. Under 1-hour-chart technical analysis, the candlestick continued surging as predicted last Friday (5th), it is currently lying between the middle and upper Bollinger Bands. The bands continue facing upwards and expanding, so it is likely to rise again after a pullback.

Currently, the short-swing upper resistance level lies between 57.90~58.00. The current support level lies between 56.40~56.50. Investors who wish to go long could consider buying between 57.15~57.25 in the short-term and setting the stop loss below 57.00.

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

Technical Analysis (Nas100):

The NASDAQ (8th of February) was around 13637.3 this morning. Under 1-hour-chart technical analysis, the candlestick rose again after a small retracement as predicted last Friday (5th), it also hit another new high. The candlestick is currently 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 13760.0~13790.0. The current support level lies between 13600.0~13630.0. Investors who wish to go long could consider buying between 13670.0~13690.0 in the short-term and setting the stop loss below 13630.0.

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

Economic Calendar (08th of February)

(Source: uk.investing.com)

 TimeCurrencyDataImportance
1.07:50JPYCurrent Account n.s.a. (Dec)★★
2.14:45CHFUnemployment Rate n.s.a. (Jan)★★
3.15:00EURGerman Industrial Production (MoM) (Dec)★★
4.17:30EURSentix Investors’ Confidence (Feb)

(Importance: maximum three stars ★★★)

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