Technical Analysis (XAUUSD)

The price of gold (7th of April) was around 1743.1 USD/Ounce early today. Under 1-hour-chart technical analysis, after the candlestick fluctuated slightly in the consolidation zone, it rose as predicted yesterday (6th). It is currently lying between the middle and upper Bollinger Bands. The bands are facing upwards, so it is likely to continue rebounding.

Currently, the short-swing upper resistance level lies between 1748.0~1750.0. The current support level lies between 1727.0~1729.0. Investors who wish to go long could consider buying between 1736.0~1738.0 in the short-term and setting the stop loss below 1733.0.

Technical Analysis (EURUSD):

The price of EUR/USD (7th of April) was around 1.18706 early today. Under 1-hour-chart technical analysis, the candlestick rebounded sharply again yesterday (6th). It is currently surging to the resistance and fluctuating slightly, so it is likely to decline from high.

Currently, the short-swing upper resistance level lies between 1.18800~1.18900. The current support level lies between 1.18200~1.18300. Investors who wish to sell short could consider selling between 1.18700~1.18780 in the short-term and setting the stop loss above 1.18850.

Technical Analysis (GBPUSD):

The price of GBP/USD (7th of April) was around 1.38215 early today. Under 1-hour-chart technical analysis, it pulled back as predicted yesterday (6th). The candlestick is currently lying between the middle and lower Bollinger Bands. The bands are facing downwards, so it is likely to continue dropping.

Currently, the short-swing upper resistance level lies between 1.38500~1.38600. The current support level lies between 1.37800~1.37900. Investors who wish to sell short could consider selling between 1.38250~1.38350 in the short-term and setting the stop loss above 1.38500.

Technical Analysis (AUDUSD):

The price of AUD/USD (7th of April) was around 0.76602 early today. Under 1-hour-chart technical analysis, it rebounded sharply again after making a small retracement yesterday (6th). The candlestick is currently fluctuating in the swing high, it is likely to pull back from high, so it is likely to decline.

Currently, the short-swing upper resistance level lies between 0.76700~0.76750. The current support level lies between 0.76200~0.76250. Investors who wish to sell short could consider selling between 0.76550~0.76600 in the short-term and setting the stop loss above 0.76680.

Technical Analysis (USOUSD):

The price of USO/USD (7th of April) was around 59.20 this morning. Under 1-hour-chart technical analysis, it pulled back again after rebounding from the bottom yesterday (6th). The candlestick is currently fluctuating around the middle Bollinger Band. The bands are facing downwards, so it is likely to continue dropping.

Currently, the short-swing upper resistance level lies between 61.00~61.10. The current support level lies between 57.30~57.40. Investors who wish to sell short could consider selling between 59.30~59.45 in the short-term and setting the stop loss above 59.70.

Technical Analysis (Nas100):

The NASDAQ (7th of April) was around 13598.8 this morning. Under 1-hour-chart technical analysis, the candlestick fluctuated slightly in the swing high yesterday (6th). It is currently lying around the middle Bollinger Band. The bands are contracting, so it is likely to pull back.

Currently, the short-swing upper resistance level lies between 13660.0~13680.0. The current support level lies between 13340.0~13360.0. Investors who wish to sell short could consider selling between 13580.0~13600.0 in the short-term and setting the stop loss above 13630.0.

Economic Calendar (7th of April)

(Source: uk.investing.com: https://uk.investing.com/economic-calendar/)

 TimeCurrencyDataImportance
1.08:50EURFrench Services PMI (Mar)★★
2.08:55EURGerman Services PMI (Mar)★★
3.09:00CHYFX Reserves (USD) (Mar)
4.09:00EURServices PMI (Mar)★★
5.09:30GBPServices PMI (Mar)★★★
6.13:30USDTrade Balance (Feb)★★
7.15:30USDEIA Refinery Crude Runs (WoW)

(Importance: maximum three stars★★★)

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