Technical Analysis (XAUUSD)

The Forex trading technical analysis indicates that the price of gold (18th of February) was around 1776.1 USD/Ounce early today. Under 1-hour-chart technical analysis, it continued dropping sharply as predicted yesterday (17th). The candlestick is currently rebounding from deep and fluctuating around the middle Bollinger Band. The bands are contracting, so it is likely to rise after standing on the middle band.

Currently, the short-swing upper resistance level lies between 1792.0~1795.0. The current support level lies between 1772.0~1775.0. Investors who wish to go long could consider buying between 1778.0~1781.0 in the short-term and setting the stop loss below 1775.5.

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

Technical Analysis (EURUSD):

The price of EUR/USD (18th of February) was around 1.20444 early today. Under 1-hour-chart technical analysis, the candlestick pulled back sharply again as predicted yesterday (17th), it is fluctuating around the middle Bollinger Band. The bands are contracting, so it is likely to rebound after reaching the bottom.

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 go long could consider buying between 1.20400~1.20450 in the short-term and setting the stop loss below 1.20300.

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

Technical Analysis (GBPUSD):

The price of GBP/USD (18th of February) was around 1.38596 early today. Under 1-hour-chart technical analysis, the candlestick continued pulling back sharply as predicted yesterday (17th), it is currently fluctuating around the middle Bollinger Band. The bands are contracting, so it is likely to rebound after reaching the bottom.

Currently, the short-swing upper resistance level lies between 1.39100~1.39200. The current support level lies between 1.38300~1.38400. Investors who wish to go long could consider buying between 1.38600~1.38700 in the short-term and setting the stop loss below 1.38500.

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

Technical Analysis (AUDUSD):

The price of AUD/USD (18th of February) was around 0.77528 early today. Under 1-hour-chart technical analysis, the candlestick continued declining as predicted yesterday (17th), it is currently lying between the middle and upper Bollinger Bands. The bands are facing upwards, so it is likely to rebound after falling deep.

Currently, the short-swing upper resistance level lies between 0.77750~0.77800. The current support level lies between 0.77250~0.77300. Investors who wish to go long could consider buying between 0.77550~0.77590 in the short-term and setting the stop loss below 0.77450.

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

Technical Analysis (USOUSD):

The price of USO/USD (18th of February) was around 61.77 this morning. Under 1-hour-chart technical analysis, the candlestick fluctuated dramatically during yesterday’s session (17th), then it rose again and breaking out the swing high, forming a bullish pattern. The bands are facing upwards and expanding, so it is likely to continue rebounding.

Currently, the short-swing upper resistance level lies between 62.50~62.60. The current support level lies between 60.80~60.90. Investors who wish to go long consider buying between 61.78~61.90 in the short-term and setting the stop loss below 61.50.

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

Technical Analysis (Nas100):

The NASDAQ (18th of February) was around 13707.2 this morning. Under 1-hour-chart technical analysis, the candlestick rebounded from the bottom after pulling back sharply as predicted yesterday (17th), it is currently fluctuating around the middle Bollinger Band. The bands are contracting, so it is likely to rebound.

Currently, the short-swing upper resistance level lies between 13760.0~13780.0. The current support level lies between 13620.0~13640.0. Investors who wish to go long could consider buying between 13680.0~13700.0 in the short-term and setting the stop loss below13650.0.

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

Economic Calendar (18th of February)

(Source: uk.investing.com)

 TimeCurrencyDataImportance
1.02:30AUDUnemployment Rate (Jan)★★
2.08:00CHFTrade Balance (Jan)
3.14:30USDInitial Jobless Claims★★★
4.14:30USDHousing Starts (Jan)★★
5.14:30USDBuilding Permits (MoM) (Jan)★★
6.14:30USDPhilly Fed Manufacturing Index (Feb)★★★
7.14:30USDImport Price Index (MoM) (Jan)★★
8.16:30USDNatural Gas Storage

(Importance: maximum three stars ★★★)

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