Technical Analysis (XAUUSD)

The Forex trading technical analysis indicates the price of gold (10th of March) was around 1715.8 USD/Ounce early today. Under 1-hour-chart technical analysis, it rebounded sharply after reaching the bottom yesterday (9th). The candlestick is currently forming a bullish pattern. The bands are facing upwards, so it is likely to rise again after a pullback.

Currently, the short-swing upper resistance level lies between 1730.0~1732.0. The current support level lies between 1700.0~1702.0. Investors who wish to go long could consider buying between 1712.0~1715.0 in the short-term and setting the stop loss below 1709.0.

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

Technical Analysis (EURUSD):

The price of EUR/USD (10th of March) was around 1.19009 early today. Under 1-hour-chart technical analysis, the candlestick rebounded from the bottom yesterday (9th). It is currently fluctuating around the middle Bollinger Band. The bands are facing upwards, so it is likely to continue rebounding.

Currently, the short-swing upper resistance level lies between 1.19500~1.19600. The current support level lies between 1.18500~1.18600. Investors who wish to go long could consider buying between 1.19000~1.19100 in the short-term and setting the stop loss below 1.18900.

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

Technical Analysis (GBPUSD):

The price of GBP/USD (10th of March) was around 1.38890 early today. Under 1-hour-chart technical analysis, after the candlestick broke out the consolidation zone yesterday (9th), it skyrocketed. The candlestick is currently fluctuating around the middle Bollinger Band. The bands are facing upwards, so it is likely to rebound again after a pullback.

Currently, the short-swing upper resistance level lies between 1.39300~1.39400. The current support level lies between 1.38400~1.38500. Investors who wish to go long could consider buying between 1.38900~1.39000 in the short-term and setting the stop loss below 1.38800.

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

Technical Analysis (AUDUSD):

The price of AUD/USD (10th of March) was around 0.77126 early today. Under 1-hour-chart technical analysis, it rebounded after the pullback yesterday (9th). The candlestick is currently fluctuating around the middle Bollinger Band. The bands continue facing upwards, so it is likely to continue rebounding.

Currently, the short-swing upper resistance level lies between 0.77500~0.77550. The current support level lies between 0.76400~0.76450. Investors who wish to go long could consider buying between 0.77100~0.77150 in the short-term and setting the stop loss below 0.77000.

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

Technical Analysis (USOUSD):

The price of USO/USD (10th of March) was around 63.86 this morning. Under 1-hour-chart technical analysis, it pulled back sharply again after the rebound as predicted yesterday (9th). The candlestick is currently lying below the middle Bollinger Band. The bands are facing downwards, so it is likely to continue declining.

Currently, the short-swing upper resistance level lies between 65.80~65.90. The current support level lies between 62.10~62.20. Investors who wish to sell short could consider selling between 64.30~64.50 in the short-term and setting the stop loss above 64.70.

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

Technical Analysis (Nas100):

The NASDAQ (10th of March) was around 12813.1 this morning. Under 1-hour-chart technical analysis, the candlestick skyrocketed after breaking out the consolidation zone yesterday (9th). It is currently lying between the middle and upper Bollinger Bands. The bands continue facing upwards, so it is likely to continue rebounding.

Currently, the short-swing upper resistance level lies between 12880.0~12900.0. The current support level lies between 12600.0~12620.0. Investors who wish to go long could consider buying between 12700.0~12720.0 in the short-term and setting the stop loss below 12650.0.

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

Economic Calendar (10th of March)

(Source: uk.investing.com)

 TimeCurrencyDataImportance
1.02:30CHYCPI (YoY) (Feb)★★
2.08:45EURFrench Industrial Production (MoM) (Jan)★★★
3.14:30USDCPI, n.s.a (MoM) (Feb)
4.16:00CADBoC Interest Rate Decision★★★
5.16:30USDEIA Refinery Crude Runs (WoW)

(Importance: maximum three stars ★★★)

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