Technical Analysis (XAUUSD)

The Forex trading technical analysis indicates that the price of gold (23rd of February) was around 1809.6 USD/Ounce early today. Under 1-hour-chart technical analysis, it skyrocketed as predicted yesterday (22nd), the candlestick is currently lying between the middle and upper Bollinger Bands. The bands are facing upwards and expanding, so it is likely to rebound again after a pullback.

Currently, the short-swing upper resistance level lies between 1818.0~1820.0. The current support level lies between 1794.0~1796.0. Investors who wish to go long could consider buying between 1808.0~1810.0 in the short-term and setting the stop loss below 1805.0.

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

Technical Analysis (EURUSD):

The price of EUR/USD (23rd of February) was around 1.21589 early today. Under 1-hour-chart technical analysis, the candlestick pulled back as predicted yesterday (22nd), it is currently rising again after the pullback. Investors should be aware of the pullback due to the pressure from higher resistance level, so it is likely to decline.

Currently, the short-swing upper resistance level lies between 1.21900~1.22000. The current support level lies between 1.21400~1.21500. Investors who wish to sell short could consider selling between 1.21750~1.21850 in the short-term and setting the stop loss above 1.21950.

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

Technical Analysis (GBPUSD):

The price of GBP/USD (23rd of February) was around 1.40690 early today. Under 1-hour-chart technical analysis, it pulled back sharply as predicted yesterday (22nd), the candlestick is currently surging. Investors should pay attention that the bands are contracting, so it is likely to fall again.

Currently, the short-swing upper resistance level lies between 1.40900~1.41000. The current support level lies between 1.40400~1.40500. Investors who wish to sell short could consider selling between 1.40800~1.40850 in the short-term and setting the stop loss above 1.40950.

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

Technical Analysis (AUDUSD):

The price of AUD/USD (23rd of February) was around 0.79132 early today. Under 1-hour-chart technical analysis, it pulled back as predicted yesterday (22nd), then it rebounded again. It is currently fluctuating slightly around the high point, so it is likely to drop.

Currently, the short-swing upper resistance level lies between 0.79400~0.79450. The current support level lies between 0.78700~0.78750. Investors who wish to sell short could consider selling between 0.79250~0.79300 in the short-term and setting the stop loss above 0.79380.

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

Technical Analysis (USOUSD):

The price of USO/USD (23rd of February) was around 62.22 this morning. Under 1-hour-chart technical analysis, after the candlestick fluctuated slightly in the low point yesterday (22nd), it broke out the resistance level and skyrocketed. It is currently breaking out and hitting a new high. The bands are facing upwards, so it is likely to continuing rising sharply.

Currently, the short-swing upper resistance level lies between 63.20~63.30. The current support level lies between 61.70~61.80. Investors who wish to go long could consider buying between 62.42~62.52 in the short-term and setting the stop loss below 62.25.

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

Technical Analysis (Nas100):

The NASDAQ (23rd of February) was around 13234.0 this morning. Under 1-hour-chart technical analysis, the candlestick dropped sharply again after rebounding to the resistance level form the bottom as predicted yesterday (22nd), it is currently lying between the middle and lower Bollinger Bands. The bands continue facing downwards and expanding, so it is likely to continue falling.

Currently, the short-swing upper resistance level lies between 13380.0~13400.0. The current support level lies between 13200.0~13220.0. Investors who wish to sell short could consider selling between 13310.0~13330.0 in the short-term and setting the stop loss above 13360.0.

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

Economic Calendar (23rd of February)

(Source: uk.investing.com)

 TimeCurrencyDataImportance
1.08:00GBPEmployment Change 3M/3M (MoM) (Dec)★★
2.08:00GBPUnemployment Rate (Dec)★★
3.08:00GBPClaimant Count Change (Jan)★★★
4.11:00EURCPI (YoY) (Jan)★★★
5.11:00EURCPI (MoM) (Jan)★★
6.12:00GBPCBI Distributive Trades Survey (Feb)
7.15:00USDHouse Price Index (MoM) (Dec)
8.15:00USDS&P/CS HPI Composite – 20 n.s.a. (YoY) (Dec)★★
9.16:00USDCB Consumer Confidence (Feb)★★★
10.16:00USDRichmond Manufacturing Index (Feb)

(Importance: maximum three stars ★★★)

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