Technical Analysis (XAUUSD)

The Forex trading technical analysis indicates the price of gold (18th of March) was around 1747.3 USD/Ounce early today. Under 1-hour-chart technical analysis, it pulled back as predicted yesterday (17th), then it rebounded after reaching the bottom. The candlestick is currently lying between the middle and upper Bollinger Bands. The bands are facing upwards, so it is likely to continue bouncing back.

Currently, the short-swing upper resistance level lies between 1757.0~1760.0. The current support level lies between 1737.0~1740.0. Investors who wish to go long could consider buying between 1750.0~1752.0 in the short-term and setting the stop loss below 1747.0.

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

Technical Analysis (EURUSD):

The price of EUR/USD (18th of March) was around 1.19777 early today. Under 1-hour-chart technical analysis, after the candlestick fluctuated slightly in the swing low yesterday (17th), the euro skyrocketed as USD plummeted. The candlestick is currently lying above 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 1.19900~1.20000. The current support level lies between 1.19100~1.19200. Investors who wish to go long could consider buying between 1.19450~1.19550 in the short-term and setting the stop loss below 1.19300.

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

Technical Analysis (GBPUSD):

The price of GBP/USD (18th of March) was around 1.39619 early today. Under 1-hour-chart technical analysis, it pulled back as predicted yesterday (17th). The candlestick is currently lying between the middle and upper Bollinger Bands. The bands are facing upwards, so it is likely to rebound again after a pullback.

Currently, the short-swing upper resistance level lies between 1.39800~1.39900. The current support level lies between 1.39000~1.39100. Investors who wish to go long could consider buying between 1.39300~1.39400 in the short-term and setting the stop loss below 1.39150.

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

Technical Analysis (AUDUSD):

The price of AUD/USD (18th of March) was around 0.77990 early today. Under 1-hour-chart technical analysis, it declined again as predicted yesterday (17th). The candlestick is currently surging and breaking out the swing high, lying between the middle and upper Bollinger Bands. The bands are facing upwards, so it is likely to continue rebounding.

Currently, the short-swing upper resistance level lies between 0.78500~0.78550. The current support level lies between 0.77800~0.77850. Investors who wish to go long could consider buying between 0.78050~0.78100 in the short-term and setting the stop loss below 0.77900.

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

Technical Analysis (USOUSD):

The price of USO/USD (18th of March) was around 64.41 this morning. Under 1-hour-chart technical analysis, it declined again as predicted yesterday (17th). The candlestick is currently fluctuating around the middle Bollinger Band. The bands continue facing downwards, so it is likely to drop again.

Currently, the short-swing upper resistance level lies between 65.50~65.60. The current support level lies between 62.90~63.00. Investors who wish to sell short could consider selling between 64.40~64.60 in the short-term and setting the stop loss above 64.80.

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

Technical Analysis (Nas100):

The NASDAQ (18th of March) was around 13206.4 this morning. Under 1-hour-chart technical analysis, the candlestick pulled back sharply yesterday (17th), then it rebounded. It is currently lying between the middle and upper Bollinger Bands, and the bands are facing upwards, so it is likely to continue rebounding.

Currently, the short-swing upper resistance level lies between 13350.0~13380.0. The current support level lies between 13100.0~13130.0. Investors who wish to go long could consider buying between 13200.0~13230.0 in the short-term and setting the stop loss below 13170.0.

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

Economic Calendar (18th of March)

(Source: uk.investing.com)

 TimeCurrencyDataTime
1.01:30AUDUnemployment Rate (Feb)★★
2.08:00CHFTrade Balance (Feb)
3.11:00EURTrade Balance (Jan)★★
4.13:00GBPBoE Interest Rate Decision (Mar)★★★★
5.13:00GBPBoE QE Total (Mar)★★
6.13:30USDInitial Jobless Claims★★★
7.13:30USDPhiladelphia Fed Manufacturing Index (Mar)★★★
8.15:00USDUS Leading Index (MoM) (Feb)
9.15:30USDNatural Gas Storage

(Importance: maximum three stars ★★★)

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