Technical Analysis (XAUUSD)

The Forex trading technical analysis indicates the price of gold (24th of February) was around 1805.4 USD/Ounce early today. Under 1-hour-chart technical analysis, it pulled back after rebounding to the resistance level yesterday (23rd), the candlestick is currently lying between the middle and lower Bollinger Bands. The bands are facing downwards, so it is likely to continue dropping.

Currently, the short-swing upper resistance level lies between 1814.0~1816.0. The current support level lies between 1791.0~1793.0. Investors who wish to sell short could consider selling between 1805.0~1807.0 in the short-term and setting the stop loss above 1810.0.

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

Technical Analysis (EURUSD):

The price of EUR/USD (24th of February) was around 1.21486 early today. Under 1-hour-chart technical analysis, the candlestick pulled back again during the session as predicted yesterday (23rd), it is currently rising again after the pullback. However, it may pull back after rising to the resistance level, so it is likely to fall.

Currently, the short-swing upper resistance level lies between 1.21700~1.21800. The current support level lies between 1.21200~1.21300. Investors who wish to sell short could consider selling between 1.21600~1.21680 in the short-term and setting the stop loss above 1.21790.

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

Technical Analysis (GBPUSD):

The price of GBP/USD (24th of February) was around 1.41114 early today. Under 1-hour-chart technical analysis, it pulled back slightly during the session yesterday (23rd), then it skyrocketed again, reaching a new swing high. The candlestick is currently skyrocketing, so it is likely to pullback from high.

Currently, the short-swing upper resistance level lies between 1.42000~1.42100. The current support level lies between 1.41200~1.41300. Investors who wish to sell short could consider selling between 1.41700~1.41750 in the short-term and setting the stop loss above 1.41900.

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

Technical Analysis (AUDUSD):

The price of AUD/USD (24th of February) was around 0.79105 early today. Under 1-hour-chart technical analysis, it pulled back during the session as predicted yesterday (23rd), then it rebounded again. The candlestick is currently fluctuating slightly in the swing high, so it is likely to decline again.

Currently, the short-swing upper resistance level lies between 0.79500~0.79550. The current support level lies between 0.78900~0.78950. Investors who wish to sell short could consider selling between 0.79350~0.79400 in the short-term and setting the stop loss above 0.79460.

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

Technical Analysis (USOUSD):

The price of USO/USD (24th of February) was around 61.32 this morning. Under 1-hour-chart technical analysis, the candlestick pulled sharply after surging to the resistance level yesterday (23rd). The candlestick formed a bearish pattern. The bands are facing downwards, so it is likely to continue declining.

Currently, the short-swing upper resistance level lies between 62.00~62.10. The current support level lies between 60.00~60.10. Investors who wish to sell short could consider selling between 61.50~61.65 in the short-term and setting the stop loss above 61.90.

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

Technical Analysis (Nas100):

The NASDAQ (24th of February) was around 13181.5 this morning. Under 1-hour-chart technical analysis, the candlestick continued dropping sharply as predicted yesterday (23rd), then it rebounded from the bottom. The candlestick is fluctuating around the middle Bollinger Band. The bands continue facing downwards and expanding, so it is likely to continue falling.

Currently, the short-swing upper resistance level lies between 13300.0~13320.0. The current support level lies between 12960.0~12980.0. Investors who wish to sell short could consider selling between 13170.0~13190.0 in the short-term and setting the stop loss above 13220.0.

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

Economic Calendar (24th of February)

(Source: uk.investing.com)

 TimeCurrencyDataImportance
1.02:00NZDRBNZ Interest Rate Decision★★★
2.08:00EURGerman GDP (YoY) (Q4)★★
3.10:00CHFZEW Expectations (Feb)
4.16:00USDNew Homes Sales (Jan)★★★
5.16:30USDEIA Refinery Crude Runs (WoW)

(Importance: maximum three stars ★★★)

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