Technical Analysis (XAUUSD)

The price of gold (3rd of August) was around 1980.7 early today. Under 1-hour-chart technical analysis, the price of gold rose again after pullback as predicted last Friday (31st). The candlestick currently pulls back after going to high point and now lies near the middle of Bollinger Band, with the bands facing upwards and looking bullish. It is likely to continue rising.

Currently, the short-swing upper resistance level lies between 1988.0~1990.0. The current support level lies between 1959.0~1961.0. Investors who wish to go long could consider buying between 1977.0~1979.0 in the short-term and setting the stop loss below 1972.0.

XAUUSD Technical analysis

Technical Analysis (EURUSD):

The price of EUR/USD (3rd of August) was around 1.17751 early today. Under 1-hour-chart technical analysis, Euro plummeted as U.S. Dollar Index rebounded sharply as predicted last Friday (31st). The candlestick currently lies between the middle and lower Bollinger Bands, with the bands facing downwards and looking bearish. The drop is likely to happen after rebounding to the resistance level.

Currently, the short-swing upper resistance level lies between 1.18100~1.18200. The current support level lies between 1.16900~1.17000. Investors who wish to sell short could consider selling between 1.17700~1.17850 in the short-term and setting the stop loss above 1.17950.

EURUSD technical analysis

Technical Analysis (GBPUSD):

The price of GBP/USD (3rd of August) was around 1.30795 early today. Under 1-hour-chart technical analysis, it declined as predicted last Friday (31st). The candlestick currently lies between the middle and lower Bollinger Bands, with the bands facing downwards and looking bearish. It is likely to drop continuously after failing to rebound.

Currently, the short-swing upper resistance level lies between 1.31400~1.31500. The current support level lies between 1.30100~1.30200. Investors who wish to sell short could consider selling between 1.30850~1.31000 in the short-term and setting the stop loss above 1.31120.

GBPUSD

Technical Analysis (AUDUSD):

The price of AUD/USD (3rd of August) was around 0.71311 this morning. Under 1-hour-chart technical analysis, it dropped sharply after breaking through the middle Bollinger Band as predicted last Friday (31st). The candlestick currently made a small retracement from the bottom, with the bands facing downwards. It is likely to drop again after failing to rebound.

Currently, the short-swing upper resistance level lies between 0.71600~0.71700. The current support level lies between 0.70800~0.70900.

Investors who wish to sell short could consider selling between 0.71350~0.71450 in the short-term and setting the stop loss above 0.71550.

AUDUSD

Technical Analysis (USOUSD):

The price of USO/USD (3rd of August) was around 40.21 this morning. Under 1-hour-chart technical analysis, it pulled back again after the reaching the resistance level. The candlestick is currently fluctuating under the middle Bollinger Band. It is likely to continue dropping.

Currently, the short-swing upper resistance level lies between 40.50~40.60. The current support level lies between 39.10~39.20. Investors who wish to sell short could consider selling between 39.80~39.90 in the short-term and setting the stop loss above 40.10.

US Oil

Technical Analysis (Nas100):

The NASDAQ (3rd of August) was around 10952.0 this morning. Under 1-hour-chart technical analysis, it made a sharp pullback from the top, then followed by a rebound from the bottom. The candlestick currently lies above the middle Bollinger Band. It is likely to rise again after a small retracement.

Currently, the short-swing upper resistance level lies between 11050.0~11070.0. The current support level lies between 10850.0~10870.0. Investors who wish to go long could consider buying between 10920.0~10940.0 in the short-term and setting the stop loss below 10890.0.

nas100

Economy Calendar (31st of July)

(Source: uk.investing.com)

 TimeDataImportance
1.00:50GDP (QoQ)★★★
2.07:45Caixin Manufacturing PMI (Jul)★★★
3.07:30CPI (MoM) (Jul)★★★
4.08:50French Manufacturing PMI (Jul)★★★
5.08:55German Manufacturing PMI (Jul)★★★
6.09:00Manufacturing PMI (Jul)★★★
7.09:30Manufacturing PMI★★★
8.14:45Manufacturing PMI (Jul)★★★
9.15:00ISM Manufacturing PMI (Jul)★★★
10.15:00Construction Spending (MoM) (Jun)★★★

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

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