Technical Analysis (XAUUSD)

The technical analysis of the price of gold (31st of July) reveals that it was around 1956.0 early today. Under 1-hour-chart, the price of gold dropped from high point, it broke through 1940.0 USD/Ounces and then rebounded after touching the bottom. The candlestick currently lies between the middle and upper Bollinger Bands, with the bands facing upwards and looking bullish. It is likely to continue rebounding.

Currently, the short-swing upper resistance level lies between 1980.0~1981.0. The current support level lies between 1941.0~1942.0. Investors who wish to go long could consider buying between 1964.0~1966.0 in the short-term and setting the stop loss below 1960.0.

xauusd technical analysis

Technical Analysis (EURUSD):

The price of EUR/USD (31st of July) was around 1.18409 early today. Under 1-hour-chart technical analysis, it surged after correction as predicted yesterday (30th). The candlestick currently keeps rising, with the Bollinger Bands continuing to face up. It is possible to rise again after a correction from the high point. The rebound is likely to happen after touching the middle Bollinger Band.

Currently, the short-swing upper resistance level lies between 1.19200~1.19300. The current support level lies between 1.18000~1.18100. Investors who wish to go long could consider buying between 1.18400~1.18500 in the short-term and setting the stop loss below 1.18250.

eurusd

Technical Analysis (GBPUSD):

The price of GBP/USD (31st of July) was around 1.30885 early today. Under 1-hour-chart technical analysis, it rose again as predicted yesterday (30th). The candlestick is currently slightly above the high point and it is possible to make a pullback. It is likely to break through the 5-day moving average and then be followed by a decline.

Currently, the short-swing upper resistance level lies between 1.31600~1.31700. The current support level lies between 1.30200~1.30300. Investors who wish to sell short could consider selling between 1.31250~1.31350 in the short-term and setting the stop loss above 1.31500.

gbpusd

Technical Analysis (AUDUSD):

The price of AUD/USD (31st of July) was around 0.71870 this morning. Under 1-hour-chart technical analysis, it pulled back first, but surged and braking out the upper resistance level later as predicted yesterday (30th). The candlestick is currently retracing after the surge. It is likely to break through the 5-days moving average and continue to decline.

Currently, the short-swing upper resistance level lies between 0.72050~0.72100. The current support level lies between 0.71700~0.71750.

Investors who wish to sell short could consider selling between 0.71950~0.71980 in the short-term and setting the stop loss above 0.72080.

audusd

Technical Analysis (USOUSD):

The price of USO/USD (31st of July) was around 40.15 this morning. Under 1-hour-chart technical analysis, the candlestick firstly fluctuated within a small range, but broke through the trendline later, and finally led to a plunge. Currently it rebounded from the bottom, with the Bollinger Bands facing down. It is likely to drop again after touching the resistance zone.

Currently, the short-swing upper resistance level lies between 40.75~40.85. The current support level lies between 39.20~39.30. Investors who wish to sell short could consider selling between 40.10~40.20 in the short-term and setting the stop loss above 40.35.

US Oil technical analysis

Technical Analysis (Nas100):

The NASDAQ (31st of July) was around 10918.7 this morning. Under 1-hour-chart technical analysis, it surged after breaking through the lower resistance level as predicted yesterday (30th). The candlestick is currently fluctuating at the top. It is likely to pull back from the high point.

Currently, the short-swing upper resistance level lies between 10970.0~10990.0. The current support level lies between 10720.0~10740.0. Investors who wish to sell short could consider selling between 10920.0~10940.0 in the short-term and setting the stop loss above 10965.0.

nas100 technical analysis

Economy Calendar (31st of July)

(Source: uk.investing.com)

 TimeDataImportance
1.00:30Unemployment Rate (Jun)★★★
2.02:00Manufacturing PMI (Jul)★★★
3.06:30French GDP (QoQ) (Q2)★★★
4.07:00Nationwide (MoM) (Jul)★★★
5.07:30Retail Sales (YoY) (Jun)★★★
6.07:45French Consumer Spending (MoM) (Jun)★★★
7.10:00CPI (YoY) (Jul)★★★
8.10:00CPI (YoY) (Jul)★★★
9.10:00GDP (YoY)★★★
10.13:30PCE Price index (YoY) (Jun)★★★★
11.13:30Personal Spending (MoM) (Jun)★★★
12.13:30Core PCE Price Index (MoM) (Jun)★★★
13.13:30GDP (MoM) (May)★★★
14.14:45Chicago PMI (Jul)★★★
15.15:00Michigan Consumer Sentiment (Jul)★★★★

(Importance: maximum five stars ★★★★★)

Risk Warning !!!

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.