Technical Analysis (XAUUSD)

The price of gold (6th of August) was around 2038.5 USD/Ounces early today. Under 1-hour-chart technical analysis, it rose again after a pullback as predicted yesterday (5th). The candlestick currently fluctuates slightly at high, with the Bollinger Bands continue to face upwards. It is likely to rise again after a small retracement.

Currently, the short-swing upper resistance level lies between 2056.0~2057.0. The current support level lies between 2013.0~2014.0. Investors who wish to go long could consider buying between 2034.0~2036.5 in the short-term and setting the stop loss below 2031.0.

XAUUSD

Technical Analysis (EURUSD):

The price of EUR/USD (6th of August) was around 1.18648 early today. Under 1-hour-chart technical analysis, it continued to rise as predicted yesterday (5th). The candlestick failed to break the high and followed by a pullback, with the Bollinger Bands facing upwards. It is likely to rise again after a small retracement.

Currently, the short-swing upper resistance level lies between 1.19100~1.19200. The current support level lies between 1.18200~1.18300. Investors who wish to go long could consider buying between 1.18700~1.18780 in the short-term and setting the stop loss below 1.18560.

EURUSD

Technical Analysis (GBPUSD):

The price of GBP/USD (6th of August) was around 1.31128 early today. Under 1-hour-chart technical analysis, it rose again as predicted yesterday (5th). The candlestick currently lies between the middle and upper Bollinger Bands, with the bands continue to face upwards. It is likely to rebound after a correction.

Currently, the short-swing upper resistance level lies between 1.31700~1.31800. The current support level lies between 1.30800~1.30900.
Investors who wish to go long could consider buying between 1.31250~1.31350 in the short-term and setting the stop loss below 1.31100.

GBPUSD

Technical Analysis (AUDUSD):

The price of AUD/USD (6th of August) was around 0.71921 early today. Under 1-hour-chart technical analysis, it continued to rise and also broke the swing high as predicted yesterday (5th). The candlestick currently lies between the middle and lower Bollinger Bands, with the bands facing downwards. It is likely to drop after failing to rebound.

Currently, the short-swing upper resistance level lies between 0.72200~0.72250. The current support level lies between 0.71550~0.71600.
Investors who wish to sell short could consider selling between 0.71900~0.71970 in the short-term and setting the stop loss above 0.72040.

AUDUSD

Technical Analysis (USOUSD):

The price of USO/USD (6th of August) was around 42.03 this morning. Under 1-hour-chart technical analysis, it made a retracement after a surge as predicted yesterday (5th). The candlestick currently stopped falling, with the bands continue to face upwards. It is likely to rise again after a correction.

Currently, the short-swing upper resistance level lies between 43.10~43.20. The current support level lies between 41.50~41.60. Investors who wish to go long could consider buying between 42.25~42.35 in the short-term and setting the stop loss below 42.00.

US OIL

Technical Analysis (Nas100):

The NASDAQ (6th of August) was around 11104.6 this morning. Under 1-hour-chart technical analysis, the fluctuation of the candlestick is currently weakening, with the Bollinger Bands continuing to squeeze. It is likely to decline after breaking the middle Bollinger Band.

Currently, the short-swing upper resistance level lies between 11150.0~11160.0. The current support level lies between 11000.0~11010.0. Investors who wish to sell short could consider selling between 11100.0~11120.0 in the short-term and setting the stop loss above 11145.0.

NAS100

Economy Calendar (6th of August)

(Source: uk.investing.com)

 TimeDataImportance
1.07:00BoE Interest Rate Decision (Jul)★★★
2.07:00BoE QE Total (Jul)★★★
3.12:30Challengers Job Cuts (Jul)★★★
4.13:30Initial Jobless Claims★★★★
5.15:30Natural Gas Storage★★★

(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.