Technical Analysis (XAUUSD)

The Forex Trading Technical Analysis reveals that the price of gold (8th of September) was around 1930.4 USD/Ounces early today. Under 1-hour-chart technical analysis, as U.S. dollar continued to rise, the candlestick fluctuated below the middle Bollinger Band yesterday (7th). The Bollinger Bands are currently facing downwards. It is likely to fall again after rebounding to the resistance level.

Currently, the short-swing upper resistance level lies between 1940.0~1942.0. The current support level lies between 1914.0~1916.0. Investors who wish to sell short could consider selling between 1927.0~1929.0 in the short-term and setting the stop loss above 1932.0.

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

Technical Analysis (EURUSD):

The price of EUR/USD (8th of September) was around 1.18137 early today. Under 1-hour-chart technical analysis, it pulled back after failing to rebound yesterday (7th). The candlestick is currently lying between the middle and lower Bollinger Bands, with the bands facing downwards and looking bearish. It is likely to decline again after a small rebound.

Currently, the short-swing upper resistance level lies between 1.18400~1.18500. The current support level lies between 1.17700~1.17800. Investors who wish to sell short could consider selling between 1.18100~1.18200 in the short-term and setting the stop loss above 1.18300.

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

Technical Analysis (GBPUSD):

The price of GBP/USD (8th of September) was around 1.31603 early today. Under 1-hour-chart technical analysis, it continued to drop as predicted yesterday (7th). The candlestick is currently forming a large descending channel, with the Bollinger Bands continuing to face downwards. It is likely to drop again after a rebound.

Currently, the short-swing upper resistance level lies between 1.31900~1.32000. The current support level lies between 1.31000~1.31100.

Investors who wish to sell short could consider selling between 1.31500~1.31550 in the short-term and setting the stop loss above 1.31650.

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

Technical Analysis (AUDUSD):

The price of AUD/USD (8th of September) was around 0.72759 early today. Under 1-hour-chart technical analysis, the candlestick made a small fluctuation near the middle Bollinger Band yesterday (7th). The bands are currently contracting, it is likely to drop again after a rebound to the resistance level.

Currently, the short-swing upper resistance level lies between 0.73300~0.73350. The current support level lies between 0.72550~0.72600.

Investors who wish to sell short could consider selling between 0.72750~0.72800 in the short-term and setting the stop loss above 0.72870.

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

Technical Analysis (USOUSD):

The price of USO/USD (8th of September) was around 38.99 this morning. Under 1-hour-chart technical analysis, it made a small rebound and pulled back to a level that nears the middle Bollinger Band again yesterday (7th). The candlestick is currently lying below the middle band and looking bearish. It is likely to drop again after a rebound.

Currently, the short-swing upper resistance level lies between 40.10~40.20. The current support level lies between 38.20~38.30. Investors who wish to sell short could consider selling between 38.95~39.05 in the short-term and setting the stop loss above 39.15.

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

Technical Analysis (Nas100):

The NASDAQ (8th of September) was around 11508.9 this morning. Under 1-hour-chart technical analysis, there was a small rebound yesterday (7th). The candlestick is currently pulling back to a level that nears the middle Bollinger Band again after rebounding to the resistance level.

Currently, the short-swing upper resistance level lies between 11700.0~11720.0. The current support level lies between 11220.0~11240.0. Investors who wish to sell short could consider selling between 11530.0~11550.0 in the short-term and setting the stop loss above 11590.0.

Forex Trading Market Analysis for NASDAQ Nas100
Forex Trading Market Analysis for NASDAQ Nas100

Economic Calendar (8th of September)

(Source: uk.investing.com)

 TimeCurrencyDataImportance
1.00:50JPYGDP (YoY) (Q2)★★
2.00:50JPYCurrent Account n.s.a. (Jul)★★
3.07:00EURGerman Current Account Balance n.s.a. (Jul)
4.07:00EURGerman Trade Balance (Jul)★★
5.07:45EURFrench Trade Balance (Jul)
6.10:00EURGDP (YoY) (Q2)★★
7.10:00EUREmployment Change (QoQ) (Q2)★★
8.11:00USDNFIB Small Business Optimism (Aug)

(Importance: maximum three stars ★★★)

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