Technical Analysis (XAUUSD)

The Forex trading technical analysis indicates the price of gold (03rd of March) was around 1737.9 USD/Ounce early today. Under 1-hour-chart technical analysis, it fluctuated slightly at the swing low during the morning session yesterday (2nd), then it rebounded. The candlestick is currently forming a bullish pattern. The bands are facing upwards, so it is likely to continue rebounding.

Currently, the short-swing upper resistance level lies between 1750.0~1752.0. The current support level lies between 1720.0~1722.0. Investors who wish to go long could consider buying between 1732.0~1735.0 in the short-term and setting the stop loss below 1728.0.

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

Technical Analysis (EURUSD):

The price of EUR/USD (03rd of March) was around 1.20834 early today. Under 1-hour-chart technical analysis, it rebounded sharply from the bottom yesterday (2nd). It is currently pulling back from high. The bands are facing upwards, so it is likely to rebound again after a pullback.

Currently, the short-swing upper resistance level lies between 1.21100~1.21200. The current support level lies between 1.20300~1.20400. Investors who wish to go long could consider buying between 1.20650~1.20750 in the short-term and setting the stop loss below 1.20500.

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

Technical Analysis (GBPUSD):

The price of GBP/USD (03rd of March) was around 1.39515 early today. Under 1-hour-chart technical analysis, as USD pulled back sharply yesterday (2nd), the candlestick rebounded. The candlestick is currently showing a bullish pattern, so it is likely to rally again after the pullback.

Currently, the short-swing upper resistance level lies between 1.40000~1.40100. The current support level lies between 1.38800~1.38900. Investors who wish to go long could consider buying between 1.39400~1.39500 in the short-term and setting the stop loss below 1.39300.

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

Technical Analysis (AUDUSD):

The price of AUD/USD (03rd of March) was around 0.78145 early today. Under 1-hour-chart technical analysis, it rebounded after the pullback yesterday (2nd). The candlestick is currently lying between the middle and upper Bollinger Bands. The bands are facing upwards, so it is likely to continue rebounding.

Currently, the short-swing upper resistance level lies between 0.78800~0.78900. The current support level lies between 0.77850~0.77950. Investors who wish to go long could consider buying between 0.78150~0.78250 in the short-term and setting the stop loss below 0.78000.

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

Technical Analysis (USOUSD):

The price of USO/USD (03rd of March) was around 59.58 this morning. Under 1-hour-chart technical analysis, the candlestick pulled back again after rebounding to the resistance level from deep as predicted yesterday (2nd), it is currently lying between the middle and lower Bollinger Bands. The bands are facing downwards, so it is likely to continue declining.

Currently, the short-swing upper resistance level lies between 60.20~60.30. The current support level lies between 58.60~58.70. Investors who wish to sell short could consider selling between 59.95~60.10 in the short-term and setting the stop loss above 60.25.

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

Technical Analysis (Nas100):

The NASDAQ (03rd of March) was around 13064.7 this morning. Under 1-hour-chart technical analysis, it pulled back sharply after rebounding to the resistance level yesterday (2nd). The candlestick is currently lying between the middle and lower Bollinger Bands. The bands are facing downwards, so it is likely to continue pulling back.

Currently, the short-swing upper resistance level lies between 13200.0~13220.0. The current support level lies between 12920.0~12940.0. Investors who wish to sell short could consider selling between 13150.0~13170.0 in the short-term and setting the stop loss above 13200.0.

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

Economic Calendar (3rd of March)

(Source: uk.investing.com)

 TimeCurrencyDataImportance
1.01:30AUDGDP (QoQ) (Q4)★★★
2.02:45CHYCaixin PMI (Feb)★★
3.08:30CHFCPI (MoM) (Feb)★★
4.09:50EURFrench Services PMI (Feb)★★
5.09:55EURGerman Services PMI (Feb)★★
6.10:00EURServices PMI (Feb)★★★
7.10:30GBPServices PMI (Feb)★★★
8.11:00EURPPI (MoM) (Jan)
9.14:15USDADP Nonfarm Employment Change (Feb) ★★★
10.15:45USDServices PMI (Feb)★★
11.16:00USDISM Non-Manufacturing PMI (Feb)★★★
12.16:30USDEIA Refinery Crude Runs (WoW)

(Importance: maximum three stars ★★★)

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