Technical Analysis (XAUUSD)

The Forex trading technical analysis indicates the price of gold (17th of March) was around 1731.7 USD/Ounce early today. Under 1-hour-chart technical analysis, it rebounded sharply again as predicted yesterday (16th), then it pulled back after reaching the resistance level. The candlestick is currently fluctuating around the middle Bollinger Band. The bands are contracting, so it is likely to decline after dipping below the middle band.

Currently, the short-swing upper resistance level lies between 1741.0~1743.0. The current support level lies between 1722.0~1724.0. Investors who wish to sell short could consider selling between 1733.0~1736.0 in the short-term and setting the stop loss above 1739.0.

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

Technical Analysis (EURUSD):

The price of EUR/USD (17th of March) was around 1.19009 early today. Under 1-hour-chart technical analysis, the candlestick plummeted as predicted yesterday (16th). It is currently lying between the middle and lower Bollinger Bands. The bands are continue facing downwards and expanding, so it is likely to fall again after rebounding to the resistance level.

Currently, the short-swing upper resistance level lies between 1.19200~1.19300. The current support level lies between 1.18500~1.18600. Investors who wish to sell short could consider selling between 1.19000~1.19100 in the short-term and setting the stop loss above 1.19250.

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

Technical Analysis (GBPUSD):

The price of GBP/USD (17th of March) was around 1.38982 early today. Under 1-hour-chart technical analysis, it plummeted as predicted yesterday (16th). The candlestick is currently lying around the middle Bollinger Band after surging to the swing high, it is also forming a bearish pattern, 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 between 1.38500~1.38600. Investors who wish to sell short could consider selling between 1.38900~1.39000 in the short-term and setting the stop loss above 1.39150.

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

Technical Analysis (AUDUSD):

The price of AUD/USD (17th of March) was around 0.77442 early today. Under 1-hour-chart technical analysis, it pulled back sharply as predicted yesterday (16th). The candlestick is currently pulling back and lying between the middle and lower Bollinger Bands. 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 0.77700~0.77750. The current support level lies between 0.77000~0.77050. Investors who wish to go sell short could consider selling between 0.77350~0.77400 in the short-term and setting the stop loss above 0.77500.

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

Technical Analysis (USOUSD):

The price of USO/USD (17th of March) was around 64.85 this morning. Under 1-hour-chart technical analysis, it declined after fluctuating slightly in the swing high as predicted yesterday (16th). The candlestick 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 66.20~66.30. The current support level lies between 63.10~63.20. Investors who wish to sell short could consider selling between 64.70~64.85 in the short-term and setting the stop loss above 65.10.

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

Technical Analysis (Nas100):

The NASDAQ (17th of March) was around 13182.6 this morning. Under 1-hour-chart technical analysis, the candlestick pulled back after surging to the swing high yesterday (16th). It is currently lying between the middle and lower Bollinger Bands. The bands are facing downwards, so it is likely to decline.

Currently, the short-swing upper resistance level lies between 13250.0~13280.0. The current support level lies between 12970.0~13000.0. Investors who wish to sell short could consider selling between 13130.0~13160.0 in the short-term and setting the stop loss above 13200.0.

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

Economic Calendar (17th of March)

(Source: uk.investing.com)

 TimeCurrencyDataTime
1.11:00EURCPI (YoY) (Feb)★★★
2.11:00EURCPI (MoM) (Feb)★★
3.13:30CADCPI (MoM) (Feb)★★
4.13:30USDHousing Starts (Feb)★★
5.13:30USDBuilding Permits (Feb)★★★
6.15:30USDEIA Refinery Crude Runs (WoW)

(Importance: maximum three stars ★★★)

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