Technical Analysis (XAUUSD)

The Forex trading technical analysis indicates the price of gold (11th of March) was around 1726.6 USD/Ounce early today. Under 1-hour-chart technical analysis, it rebounded as predicted yesterday (10th). The candlestick is currently forming a bullish pattern. The bands continue facing upwards, so it is likely to rise again after the pullback.

Currently, the short-swing upper resistance level lies between 1736.0~1739.0. The current support level lies between 1707.0~1710.0. Investors who wish to go long could consider buying between 1720.0~1722.0 in the short-term and setting the stop loss below 1715.0.

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

Technical Analysis (EURUSD):

The price of EUR/USD (11th of March) was around 1.19250 early today. Under 1-hour-chart technical analysis, the candlestick rebounded as predicted yesterday (10th), 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 1.19600~1.19700. The current support level lies between 1.18800~1.18900. Investors who wish to go long could consider buying between 1.19300~1.19400 in the short-term and setting the stop loss below 1.19150.

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

Technical Analysis (GBPUSD):

The price of GBP/USD (11th of March) was around 1.39286 early today. Under 1-hour-chart technical analysis, it rebounded as predicted yesterday (10th). The candlestick is currently lying between the middle and upper Bollinger Bands. The bands continue facing upwards, so it is likely to rebound again after the pullback.

Currently, the short-swing upper resistance level lies between 1.39600~1.39700. The current support level lies between 1.39000~1.39100. Investors who wish to go long could consider buying between 1.39200~1.39300 in the short-term and setting the stop loss below 1.39050.

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

Technical Analysis (AUDUSD):

The price of AUD/USD (11th of March) was around 0.77309 early today. Under 1-hour-chart technical analysis, it rebounded again after the pullback as predicted yesterday (10th). The candlestick 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 0.77800~0.77900. The current support level lies between 0.77000~0.77100. Investors who wish to go long could consider buying between 0.77400~0.77450 in the short-term and setting the stop loss below 0.77300.

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

Technical Analysis (USOUSD):

The price of USO/USD (11th of March) was around 64.70 this morning. Under 1-hour-chart technical analysis, it pulled back again after rebounding to the resistance level as predicted yesterday (10th). The candlestick is currently 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 66.50~66.60. The current support level lies between 63.20~63.30. Investors who wish to go long could consider buying between 65.00~65.20 in the short-term and setting the stop loss below 64.70.

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

Technical Analysis (Nas100):

The NASDAQ (11th of March) was around 12795.6 this morning. Under 1-hour-chart technical analysis, the candlestick rebounded after breaking out the descending channel’s resistance level as predicted yesterday (10th). It is currently fluctuating around the middle Bollinger Band. The bands are contracting, so it is likely to pull back after rebounding to the resistance level.

Currently, the short-swing upper resistance level lies between 12900.0~12920.0. The current support level lies between 12600.0~12620.0. Investors who wish to sell short could consider selling between 12820.0~12840.0 in the short-term and setting the stop loss above 12880.0.

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

Economic Calendar (11th of March)

(Source: uk.investing.com)

 TimeCurrencyDataImportance
1.20:45EURECB Marginal Lending Facility★★★★
2.21:30USDInitial Jobless Claims★★★
3.23:30USDNatural Gas Storage

(Importance: maximum three stars ★★★)

The views or opinions as expressed in the above article represent the personal views or opinions of the author and do not represent those of IV Markets Limited (“IV Markets”). IV Markets has no obligation to independently check or verify the author of the article and the information provided in the article. Accordingly, IV MARKETS does not take responsibility for such article.

This material is for general information purposes only and is not intended as (and should not be considered to be) financial, investment or other advice on which reliance should be placed. IV Markets is not authorized to provide investment advice. No opinion given in the material constitutes a recommendation by IV Markets or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.

Trading with IV Markets can result in losses that exceed your deposits. Consumers should ensure they understand the risk and seek independent financial advice if necessary.

IV Markets is designed for clients to trade in the forex market, it is regulated by the Seychelles Financial Authority (FSA), license number: SD049.