Technical Analysis (XAUUSD)

The Forex trading technical analysis indicates the price of gold (01st of March) was around 1733.4 USD/Ounce early today. Under 1-hour-chart technical analysis, it plummeted over 60 USD last Friday (26th). The candlestick is currently rebounding from deep and lying above the 5-day and 10-day MA. The bands are facing upwards, so it is likely to rebound from the bottom.

Currently, the short-swing upper resistance level lies between 1755.0~1758.0. The current support level lies between 1728.0~1730.0. Investors who wish to go long could consider buying between 1743.0~1745.0 in the short-term and setting the stop loss below 1738.0.

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

Technical Analysis (EURUSD):

The price of EUR/USD (01st of March) was around 1.20740 early today. Under 1-hour-chart technical analysis, the candlestick plummeted last Friday (26th), it is currently rebounding from deep. The bands are facing upwards, so it is likely to rebound.

Currently, the short-swing upper resistance level lies between 1.21300~1.21400. The current support level lies between 1.20400~1.20500. Investors who wish to go long could consider buying between 1.20700~1.20800 in the short-term and setting the stop loss below 1.20600.

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

Technical Analysis (GBPUSD):

The price of GBP/USD (01st of March) was around 1.39340 early today. Under 1-hour-chart technical analysis, it plummeted again as predicted last Friday (26th). It is currently rebounding from deep. The bands are facing upwards, so it is likely to continue rebounding.

Currently, the short-swing upper resistance level lies between 1.40600~1.40700. The current support level lies between 1.39400~1.39500. Investors who wish to go long could consider buying between 1.39800~1.39900 in the short-term and setting the stop loss below 1.39650.

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

Technical Analysis (AUDUSD):

The price of AUD/USD (01st of March) was around 0.77179 early today. Under 1-hour-chart technical analysis, it dropped sharply again as predicted last Friday (26th). The candlestick is currently rebounding from deep, so it is likely to continue rebounding.

Currently, the short-swing upper resistance level lies between 0.78150~0.78200. The current support level lies between 0.77300~0.77350. Investors who wish to go long could consider buying between 0.77500~0.77550 in the short-term and setting the stop loss below 0.77430.

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

Technical Analysis (USOUSD):

The price of USO/USD (01st of March) was around 61.83 this morning. Under 1-hour-chart technical analysis, the candlestick pulled back sharply after fluctuating at the swing high as predicted last Friday (26th), it is currently rebounding from deep. The bands are facing upwards, so it is likely to rebound.

Currently, the short-swing upper resistance level lies between 63.50~63.60. The current support level lies between 61.70~61.80. Investors who wish to go long could consider buying between 62.40~62.55 in the short-term and setting the stop loss below 62.10.

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

Technical Analysis (Nas100):

The NASDAQ (01st of March) was around 12796.4 this morning. Under 1-hour-chart technical analysis, the candlestick continued pulling back last Friday (26th), it is currently rebounding from deep and lying between the middle and upper Bollinger Bands. The bands are facing upwards, so it is likely to rebound.

Currently, the short-swing upper resistance level lies between 13230.0~13250.0. The current support level lies between 12870.0~12890.0. Investors who wish to go long could consider buying between 13040.0~13060.0 in the short-term and setting the stop loss below 13000.0.

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

Economic Calendar (01st of March)

(Source: uk.investing.com)

 TimeCurrencyDataImportance
1.07:45CHYCaixin Manufacturing PMI (Feb)★★★
2.08:30CHFRetail Sales (YoY) (Jan)★★
3.09:50EURFrench Manufacturing PMI (Feb)★★
4.09:55EURGerman Manufacturing PMI (Feb)★★★
5.10:00EURManufacturing PMI (Feb)★★
6.10:30GBPManufacturing PMI (Feb)★★
7.10:30GBPMortgage Approvals (Jan)
8.14:00EURGerman CPI (MoM) (Feb)★★
9.14:30CADManufacturing PMI (Feb)
10.15:45USDManufacturing PMI (Feb)★★
11.16:00USDISM Manufacturing PMI (Feb)★★★
12.16:00USDConstruction Spending (MoM) (Jan)

(Importance: maximum three stars ★★★)

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