Technical Analysis (XAUUSD)
The price of gold (7th of August) was around 2065.6 USD/Ounces early today. Under 1-hour-chart technical analysis, it skyrocketed again after fluctuating in the consolidation zone as predicted yesterday (6th). The candlestick currently lies between the middle and upper Bollinger Bands, with the bands continuing to face upwards. It is likely to rise again after correction.

Currently, the short-swing upper resistance level lies between 2080.0~2082.0. The current support level lies between 2048.0~2050.0. Investors who wish to go long could consider buying between 2065.0~ 2068.5 in the short-term and setting the stop loss below 2062.0

XAUUSD

Technical Analysis (EURUSD):
The price of EUR/USD (7th of August) was around 1.18763 early today. Under 1-hour-chart technical analysis, it skyrocketed and broke through the swing high as predicted yesterday (6th). Afterwards, a shooting star (bearish candlestick with a long upper shadow) appeared at high, making the price to pull back. Currently, the Bollinger Bands are facing downwards. It is likely to continue dropping.

Currently, the short-swing upper resistance level lies between 1.18700~1.18800. The current support level lies between 1.18100~1.18200. Investors who wish to sell short could consider selling between 1.18500~1.18580 in the short-term and setting the stop loss above 1.18700.

EURUSD

Technical Analysis (GBPUSD):
The price of GBP/USD (7th of August) was around 1.31425 early today. Under 1-hour-chart technical analysis, it continued to rise and broke through the swing high as predicted yesterday (6th). The candlestick currently pulls back and lies between the middle and the lower Bollinger Bands, with the bands facing downwards. It is likely to go down again after failing to rebound.

Currently, the short-swing upper resistance level lies between 1.31700~1.31800. The current support level lies between 1.30600~1.30700.
Investors who wish to sell short could consider selling between 1.31200~1.31300 in the short-term and setting the stop loss above 1.31400.

GBPUSD

Technical Analysis (AUDUSD):
The price of AUD/USD (7th of August) was around 0.72308 early today. Under 1-hour-chart technical analysis, the candlestick pulled back after a surge, it now lies between the middle and lower Bollinger Bands, with the bands facing downwards. It is likely to continue dropping after rebound to the resistance zone.

Currently, the short-swing upper resistance level lies between 0.72400~0.72450. The current support level lies between 0.71800~0.71850.
Investors who wish to sell short could consider selling between 0.72150~0.72200 in the short-term and setting the stop loss above 0.72260.

AUDUSD

Technical Analysis (USOUSD):
The price of USO/USD (7th of August) was around 41.84 this morning. Under 1-hour-chart technical analysis, it made a small retracement after pullback as predicted yesterday (6th). The candlestick currently stays flat after failing to rebound, with the bands contracting. It is likely to decline again after breaking below the middle band.

Currently, the short-swing upper resistance level lies between 43.10~43.20. The current support level lies between 41.10~41.20. Investors who wish to sell short could consider selling between 42.00~42.15 in the short-term and setting the stop loss above 42.35.

OS OIL

Technical Analysis (Nas100):
The NASDAQ (7th of August) was around 11266.9 this morning. Under 1-hour-chart technical analysis, after fluctuating in the high point as predicted yesterday (6th), the candlestick surged and broke through the upper resistance level. It is currently pulling back from high, with the Bollinger Bands facing upwards. It is likely to rise again after a correction.

NAS100

Currently, the short-swing upper resistance level lies between 11320.0~11340.0. The current support level lies between 11150.0~11170.0. Investors who wish to go long could consider buying between 11200.0~11220.0 in the short-term and setting the stop loss below 11180.0.

Economy Calendar (7th of August)

(Source: uk.investing.com)

 TimeDataImportance
1.10:00Trade Balance (Jul)★★★
2.10:50Trade Balance (USD) (Jul)★★★
3.07:00German Industrial Production (MoM) (Jul)★★★
4.07:00German Current Account balance n.s.a (Jun)★★★
5.07:00German Trade balance (Jun)★★★
6.07:45French Industrial Production (MoM) (Jun)★★★
7.07:45French Trade Balance (Jun)★★★
8.07:30Halifax House Price Index (MoM)(Jul)★★★
9.09:00FX Reserves (Jul)★★★
10.13:30Unemployment Rate (Jul)★★★★★
11.13:30Nonfarm Payrolls (Jul)★★★★★
12.13:30Employment Change (Jul)★★★
13.15:00Wholesales Trade Sales (MoM) (Jun)★★★

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

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