Technical Analysis (XAUUSD)

The Forex Trading Technical Analysis for 7th of September 2020 reveals that was around 1931.0 USD/Ounces early today. Under 1-hour-chart technical analysis, it rebounded as predicted last Friday (4th). The candlestick is currently lying between the middle and upper Bollinger Bands, with the bands facing upwards. It is likely to continue rebounding.

Currently, the short-swing upper resistance level lies between 1952.0~1954.0. The current support level lies between 1922.0~1924.0. Investors who wish to go long could consider buying between 1937.0~1939.0 in the short-term and setting the stop loss below 1933.5.

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

Technical Analysis (EURUSD):

The price of EUR/USD (7th of September) was around 1.18387 early today. Under 1-hour-chart technical analysis, the candlestick is currently making a small retracement after a surge, a consolidation zone is formed at the bottom while the Bollinger Bands stay flat. It is likely to rebound again after a pullback.

Currently, the short-swing upper resistance level lies between 1.18600~1.18700. The current support level lies between 1.17800~1.17900. Investors who wish to go long could consider buying between 1.18200~1.18300 in the short-term and setting the stop loss below 1.18050.

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

Technical Analysis (GBPUSD):

The price of GBP/USD (7th of September) was around 1.32501 early today. Under 1-hour-chart technical analysis, it formed a large descending channel. The candlestick is currently rebounding and lying between the middle and lower Bollinger Bands, with the bands expanding and facing downwards. It is likely to continue dropping.

Currently, the short-swing upper resistance level lies between 1.33000~1.33100. The current support level lies between 1.31900~1.32000.

Investors who wish to sell short could selling between 1.32350~1.32450 in the short-term and setting the stop loss above 1.32550.

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

Technical Analysis (AUDUSD):

The price of AUD/USD (7th of September) was around 0.72832 early today. Under 1-hour-chart technical analysis, it slumped as predicted last Friday (4th). The candlestick is currently rebounding sharply, lying 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 0.73300~0.73350. The current support level lies between 0.72600~0.72650.

Investors who wish to go long could consider buying between 0.72900~0.72950 in the short-term and setting the stop loss below 0.72800.

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

Technical Analysis (USOUSD):

The price of USO/USD (7th of September) was around 39.30 this morning. Under 1-hour-chart technical analysis, it plummeted as predicted last Friday (4th). The candlestick is currently showing a sign of rebound, laying above the 5-days moving average. It is likely to rebound.

Currently, the short-swing upper resistance level lies between 40.40~40.50. The current support level lies between 38.50~38.60. Investors who wish to go long could consider buying between 39.15~39.25 in the short-term and setting the stop loss below 39.00.

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

Technical Analysis (Nas100):

The NASDAQ (7th of September) was around 11529.1 this morning. Under 1-hour-chart technical analysis, it slumped again after a small rebound as predicted last Friday (4th). The candlestick is currently rebounding from the bottom, lying between the middle and lower Bollinger Bands, with the bands continuing to face downwards. It is likely to decline again after a rebound.

Currently, the short-swing upper resistance level lies between 11700.0~11720.0. The current support level lies between 11180.0~11200.0. Investors who wish to sell short could consider selling between 11550.0~11570.0 in the short-term and setting the stop loss above 11600.0.

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

Economic Calendar (7th of September)

(Source: uk.investing.com)

 TimeCurrencyDataImportance
3.07:00EURGerman Industrial Production (MoM) (Jul)★★
4.08:30GBPHalifax House Price Index (YoY)★★
6.09:30EURSentix Investor Confidence (Sep)

(Importance: maximum three stars★★★)

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