Technical Analysis (XAUUSD)

The Forex trading technical analysis indicates the price of gold (16th of March) was around 1730.5 USD/Ounce early today. Under 1-hour-chart technical analysis, it rebounded sharply as predicted yesterday (15th). 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 1740.0~1742.0. The current support level lies between 1724.0~1726.0. Investors who wish to go long could consider buying between 1732.0~1734.0 in the short-term and setting the stop loss below 1729.0.

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

Technical Analysis (EURUSD):

The price of EUR/USD (16th of March) was around 1.19240 early today. Under 1-hour-chart technical analysis, the candlestick rebounded slightly yesterday (15th), then it pulled back again. The candlestick is currently fluctuating around the middle Bollinger Band. The bands continue facing downwards, so it is likely to decline again after rebounding to the resistance level.

Currently, the short-swing upper resistance level lies between 1.19600~1.19700. The current support level lies between 1.18700~1.18800. Investors who wish to sell short could consider selling between 1.19300~1.19400 in the short-term and setting the stop loss above 1.19550.

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

Technical Analysis (GBPUSD):

The price of GBP/USD (16th of March) was around 1.38951 early today. Under 1-hour-chart technical analysis, it pulled back sharply as predicted yesterday (15th). The candlestick is currently lying between the middle and lower Bollinger Bands. The bands are facing downwards and expanding, so it is likely to drop again.

Currently, the short-swing upper resistance level lies between 1.39200~1.39300. The current support level lies between1.38100~1.38200. Investors who wish to sell short could consider selling between 1.38800~1.38900 in the short-term and setting the stop loss above 1.39050.

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

Technical Analysis (AUDUSD):

The price of AUD/USD (16th of March) was around 0.77428 early today. Under 1-hour-chart technical analysis, it pulled back as predicted yesterday (15th), then it rebounded from the bottom. The candlestick has pulled back and is currently fluctuating around the middle Bollinger Band. The bands continue facing downwards, so it is likely to drop again after rebounding to the resistance level.

Currently, the short-swing upper resistance level lies between 0.77750~0.77800. The current support level lies between 0.77000~0.77050. Investors who wish to go long could consider selling between 0.77450~0.77500 in the short-term and setting the stop loss above 0.77600.

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

Technical Analysis (USOUSD):

The price of USO/USD (16th of March) was around 65.28 this morning. Under 1-hour-chart technical analysis, it fell sharply after fluctuating slightly in the swing high yesterday (15th). The candlestick 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 66.00~66.10. The current support level lies between 62.00~62.10. Investors who wish to sell short could consider selling between 65.00~65.15 in the short-term and setting the stop loss above 65.40.

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

Technical Analysis (Nas100):

The NASDAQ (16th of March) was around 13076.4 this morning. Under 1-hour-chart technical analysis, the candlestick rebounded after pulling back slightly yesterday (15th). 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 13250.0~13280.0. The current support level lies between 12800.0~12830.0. Investors who wish to go long could consider buying between 13060.0~13080.0 in the short-term and setting the stop loss below 13020.0.

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

Economic Calendar (16th of March)

(Source: uk.investing.com)

 TimeCurrencyDataTime
1.08:45EURFrench CPI (MoM) (Feb)★★
2.11:00EURGerman ZEW Economic Sentiment (Mar)★★★
3.11:00EURZEW Economic Sentiment (Mar)★★
4.13:30USDRetail Sales (MoM) (Feb)★★★★
5.13:30USDImport Price Index (MoM) (Feb)★★
6.14:15USDIndustrial Production (MoM) (Feb)★★
7.15:00USDNAHB Housing Market Index (Mar)
8.15:00USDBusiness Inventories (MoM) (Jan)★★

(Importance: maximum three stars ★★★)

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