Technical Analysis (XAUUSD)

The Forex trading technical analysis indicates that the price of gold (17th of February) was around 1794.2 USD/Ounce early today. Under 1-hour-chart technical analysis, it plummeted yesterday (16th), expanding the falling scale after dropping below the 1800 USD mark. The candlestick is currently rebounding from deep and lying below the middle Bollinger Band. 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 1805.0~1808.0. The current support level lies between 1780.0~1783.0. Investors who wish to sell short could consider selling between 1797.0~1799.0 in the short-term and setting the stop loss above 1802.5.

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

Technical Analysis (EURUSD):

The price of EUR/USD (17th of February) was around 1.21020 early today. Under 1-hour-chart technical analysis, the candlestick pulled back sharply after surging again as predicted yesterday (16th). It is currently lying between the 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 1.21050~1.21150. The current support level lies between 1.20750~1.20850. Investors who wish to sell short could consider selling between 1.20960~1.21000 in the short-term and setting the stop loss above 1.21080.

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

Technical Analysis (GBPUSD):

The price of GBP/USD (17th of February) was around 1.39017 early today. Under 1-hour-chart technical analysis, as USD rallied sharply yesterday (16th), the candlestick is currently lying between the middle and lower Bollinger Bands after pulling back strongly. The bands are facing downwards, so it is likely to drop again after continue rebounding to the resistance level.

Currently, the short-swing upper resistance level lies between 1.39000~1.39100. The current support level lies between 1.38400~1.38500. Investors who wish to sell short could consider selling between 1.38850~1.38880 in the short-term and setting the stop loss above 1.39050.

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

Technical Analysis (AUDUSD):

The price of AUD/USD (17th of February) was around 0.77493 early today. Under 1-hour-chart technical analysis, the candlestick pulled back after surging yesterday (16th), it is currently lying between the middle and lower Bollinger Bands. The bands are facing downwards, so it is likely to continue falling.

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 0.77600~0.77650 in the short-term and setting the stop loss above 0.77730.

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

Technical Analysis (USOUSD):

The price of USO/USD (17th of February) was around 60.33 this morning. Under 1-hour-chart technical analysis, the candlestick continued falling yesterday (16th), it is pulling back and fluctuating around the middle Bollinger Band. The bands are facing dowards, so it is likely to continue declining.

Currently, the short-swing upper resistance level lies between 60.40~60.50. The current support level lies between 58.80~58.90. Investors who wish to sell short could consider selling between 59.80~59.90 in the short-term and setting the stop loss above 60.10.

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

Technical Analysis (Nas100):

The NASDAQ (17th of February) was around 13762.5 this morning. Under 1-hour-chart technical analysis, the candlestick pulled back sharply yesterday (16th), it is currently rebounding from the bottom and standing on the 5-day and 10-day MA, so it is likely to rebound.

Currently, the short-swing upper resistance level lies between 13810.0~13840.0. The current support level lies between 13700.0~13730.0. Investors who wish to go long could consider buying between 13750.0~13770.0 in the short-term and setting the stop loss below 13730.0.

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

Economic Calendar (17th of February)

(Source: uk.investing.com)

 TimeCurrencyDataImportance
1.08:00GBPCPI (MoM) (Jan)★★
2.08:00GBPRPI (MoM) (Jan)
3.14:30USDRetail Prices (MoM) (Jan)★★★
4.14:30USDPPI (MoM) (Jan)★★★
5.14:30CADCPI (MoM) (Jan)★★
6.15:15USDIndustrial Production (MoM) (Jan)★★
7.16:00USDNAHB Housing Market Index (Feb)
8.16:00USDBusiness Inventories (MoM) (Dec)★★

(Importance: maximum three stars ★★★)

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