Technical Analysis (XAUUSD)

The Forex trading technical analysis indicates the price of gold (09th of March) was around 1683.3 USD/Ounce early today. Under 1-hour-chart technical analysis, it rebounded slightly from the bottom yesterday (8th). The candlestick is currently forming a bearish pattern. The Bollinger Bands are facing downwards, so it is likely to decline again after rebounding to the resistance level.

Currently, the short-swing upper resistance level lies between 1700.0~1703.0. The current support level lies between 1670.0~1673.0. Investors who wish to sell short could consider selling between 1683.0~1685.0 in the short-term and setting the stop loss above 1688.0.

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

Technical Analysis (EURUSD):

The price of EUR/USD (09th of March) was around 1.18476 early today. Under 1-hour-chart technical analysis, the candlestick continued dropping as predicted yesterday (8th). It is currently fluctuating around the middle Bollinger Band. The bands continue facing downwards, so it is likely to decline again.

Currently, the short-swing upper resistance level lies between 1.19000~1.19100. The current support level lies between 1.18000~1.18100. Investors who wish to sell short could consider selling between 1.18500~1.18600 in the short-term and setting the stop loss above 1.18700.

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

Technical Analysis (GBPUSD):

The price of GBP/USD (09th of March) was around 1.38146 early today. Under 1-hour-chart technical analysis, the candlestick declined again after rebounding to the resistance level as predicted yesterday (8th). It is currently fluctuating around the middle Bollinger Band. The bands are contracting, so it is likely to decline again.

Currently, the short-swing upper resistance level lies between 1.38600~1.38700. The current support level lies between 1.37700~1.37800. Investors who wish to sell short could consider selling between 1.38300~1.38400 in the short-term and setting the stop loss above 1.38500.

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

Technical Analysis (AUDUSD):

The price of AUD/USD (09th of March) was around 0.76441 early today. Under 1-hour-chart technical analysis, it dropped sharply again as predicted yesterday (8th). The candlestick is currently lying between the middle and lower Bollinger Bands. The bands continue facing downwards and expanding, so it is likely to decline again.

Currently, the short-swing upper resistance level lies between 0.77000~0.77100. The current support level lies between 0.76000~0.76100. Investors who wish to sell short could consider selling between 0.76450~0.76550 in the short-term and setting the stop loss above 0.76650.

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

Technical Analysis (USOUSD):

The price of USO/USD (09th of March) was around 64.73 this morning. Under 1-hour-chart technical analysis, it pulled back sharply after the surge as predicted yesterday (8th). The candlestick is currently lying below the middle Bollinger Band. The bands are facing downwards, so it is likely to continue dropping.

Currently, the short-swing upper resistance level lies between 66.70~66.80. The current support level lies between 62.20~62.30. Investors who wish to sell short could consider selling between 65.20~65.30 in the short-term and setting the stop loss above 65.50.

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

Technical Analysis (Nas100):

The NASDAQ (09th of March) was around 12341.9 this morning. Under 1-hour-chart technical analysis, the candlestick fell sharply again after rebounding to the resistance level as predicted yesterday (8th). It is currently lying between the middle and lower Bollinger Bands. The bands continue facing downwards and expanding, so it is likely to continue dropping.

Currently, the short-swing upper resistance level lies between 12650.0~12670.0. The current support level lies between 12200.0~12220.0. Investors who wish to sell short could consider selling between 12410.0~12430.0 in the short-term and setting the stop loss above 12470.0.

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

Economic Calendar (9th of March)

(Source: uk.investing.com)

 TimeCurrencyDataImportance
1.00:50JPYGDP (YoY) (Q4)★★
2.08:00EURGerman Current Account Balance n.s.a. (Jan)
3.08:00EURGerman Trade Balance (Jan)★★
4.11:00EURGDP (YoY) (Q4)★★
5.11:00EUREmployment Change (QoQ) (Q4)
6.12:00USDNFIB Small Business Optimism (Feb)

(Importance: maximum three stars ★★★)

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