Technical Analysis (XAUUSD)

The price of gold (4th of August) was around 1977.0 early today. Under 1-hour-chart technical analysis, it fluctuated inside the ascending triangle yesterday. The candlestick currently fluctuates near the middle Bollinger Band, with the bands contracting and staying flat. It is likely to pull back after touching the resistance level.

Currently, the short-swing upper resistance level lies between 1987.0~1989.0. The current support level lies between 1960.0~1962.0. Investors who wish to sell short could consider selling between 1977.0~1979.0 in the short-term and setting the stop loss above1983.0.

xauusd

Technical Analysis (EURUSD):

The price of EUR/USD (4th of August) was around 1.17592 early today. Under 1-hour-chart technical analysis, it dropped again after rebound to the resistance level as predicted yesterday (3rd). The candlestick currently bounces back and lies between the middle and upper Bollinger Bands, with the bands facing upwards. It is likely to rebound.

Currently, the short-swing upper resistance level lies between 1.18400~1.18500. The current support level lies between 1.17000~1.17100. Investors who wish to go long could consider buying between 1.17700~1.17800 in the short-term and setting the stop loss below 1.17500.

eurusd

Technical Analysis (GBPUSD):

The price of GBP/USD (4th of August) was around 1.30744 early today. Under 1-hour-chart technical analysis, it declined as predicted yesterday (3rd). The candlestick currently bounces back from the bottom and lies above the middle Bollinger Band. If it pulls back and breaks through below the middle Bollinger Band, it is possible to form a descending channel. Therefore, it is likely to drop again after failing to rebound.

Currently, the short-swing upper resistance level lies between 1.31300~1.31400. The current support level lies between 1.30000~1.30100.
Investors who wish to sell short could consider selling between 1.30600~1.30700 in the short-term and setting the stop loss above 1.30850.

gbpusd technical analysis

Technical Analysis (USOUSD):

The price of USO/USD (4th of August) was around 40.61 this morning. Under 1-hour-chart technical analysis, it surged after breaking through the consolidation zone as predicted yesterday (3rd). The candlestick currently pulls back from the high point, with the Bollinger Bands facing upwards. It is likely to continue rebounding.

Currently, the short-swing upper resistance level lies between 41.10~41.20. The current support level lies between 39.40~39.50. Investors who wish to go long could consider buying between 40.58~40.68 in the short-term and setting the stop loss below 40.35.

us oil

Technical Analysis (Nas100):

The NASDAQ (4th of August) was around 11064.7 this morning. Under 1-hour-chart technical analysis, it went up again after a small retracement as predicted yesterday (3rd). The candlestick currently reaches the upper resistance level, with the Bollinger Bands contracting. It is likely to pull back.

Currently, the short-swing upper resistance level lies between 11130.0~11150.0. The current support level lies between 10950.0~10970.0. Investors who wish to sell short could consider selling between 11060.0~11080.0 in the short-term and setting the stop loss above 11100.0.

nas100 technical analysis

Economy Calendar (4th of August)

(Source: uk.investing.com)

 TimeDataImportance
1.05:30RBA Rate Statement★★★
2.05:30RBA Interest Rate Decision (Aug)★★★
3.06:45SECO Consumer Climate (Q3)★★★
4.10:00PPI (MoM) (Jun)★★★
5.15:00Factory Orders (MoM) (Jun)★★★

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

Rick 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.