Technical Analysis (XAUUSD)

The Forex Trading Technical Analysis indicates the price of gold (12th of March) was around 1722.4 USD/Ounce early today. Under 1-hour-chart technical analysis, it rebounded again as predicted yesterday (11th). The candlestick is currently pulling back and lying below the middle Bollinger Band. The bands are facing downwards, so it is likely to pullback.

Currently, the short-swing upper resistance level lies between 1740.0~1742.0. The current support level lies between 1710.0~1712.0. Investors who wish to sell short could consider selling between 1722.0~1725.0 in the short-term and setting the stop loss above 1728.0.

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

Technical Analysis (EURUSD):

The price of EUR/USD (12th of March) was around 1.19820 early today. Under 1-hour-chart technical analysis, the candlestick rebounded again as predicted yesterday (11th). The candlestick is currently fluctuating around the middle Bollinger Band. The bands are contracting, so it is likely to pullback.

Currently, the short-swing upper resistance level lies between 1.20000~1.20100. The current support level lies between 1.19200~1.19300. Investors who wish to sell short could consider selling between 1.19800~1.19900 in the short-term and setting the stop loss above 1.20050.

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

Technical Analysis (GBPUSD):

The price of GBP/USD (12th of March) was around 1.39821 early today. Under 1-hour-chart technical analysis, it continued rebounding as predicted yesterday (11th). It is currently pulling back from high and fluctuating around the middle Bollinger Band. The bands are contracting, so it is likely to pullback.

Currently, the short-swing upper resistance level lies between 1.40100~1.40200. The current support level lies between 1.39400~1.39500. Investors who wish to sell short could consider selling between 1.39850~1.39950 in the short-term and setting the stop loss above 1.40100.

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

Technical Analysis (AUDUSD):

The price of AUD/USD (12th of March) was around 0.77833 early today. Under 1-hour-chart technical analysis, it continued rising as predicted yesterday (11th). The candlestick is currently pulling back and fluctuating around the middle Bollinger Band. The bands are reversing, so it is likely to continue dropping.

Currently, the short-swing upper resistance level lies between 0.78000~0.78050. The current support level lies between 0.77300~0.77350. Investors who wish to go long could consider selling between 0.77750~0.77800 in the short-term and setting the stop loss above 0.77900.

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

Technical Analysis (USOUSD):

The price of USO/USD (12th of March) was around 65.90 this morning. Under 1-hour-chart technical analysis, it continued rebounding as predicted yesterday (11th). 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 67.50~67.60. The current support level lies between 64.30~64.40. Investors who wish to go long could consider buying between 65.50~65.70 in the short-term and setting the stop loss below 65.20.

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

Technical Analysis (Nas100):

The NASDAQ (12th of March) was around 13056.2 this morning. Under 1-hour-chart technical analysis, the candlestick continued rebounding yesterday (11th). It is currently pulling back and lying below the middle Bollinger Band. The bands are contracting, so it is likely to drop.

Currently, the short-swing upper resistance level lies between 13120.0~13140.0. The current support level lies between 12820.0~12840.0. Investors who wish to sell short could consider selling between 13020.0~13040.0 in the short-term and setting the stop loss above 13080.0.

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

Economic Calendar (12th of March)

(Source: uk.investing.com)

 TimeCurrencyDataImportance
1.15:00EURGerman CPI (MoM) (Feb)★★★
2.15:00GBPMonthly GDP 3M/3M Change★★★
3.15:00GBPManufacturing Production (MoM) (Jan)★★★
4.15:00GBPTrade Balance (Jan)★★
5.15:00GBPIndustrial Production (MoM) (Jan)★★
6.18:00EURIndustrial Production (MoM) (Jan)★★
7.21:30CADEmployment Change (Feb)★★★
8.21:30CADWholesale Sales (MoM) (Jan)★★
9.21:30USDPPI (MoM) (Feb)★★★
10.23:00USDMichigan Consumer Sentiment (Mar)  ★★

(Importance: maximum three stars ★★★)

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