Technical Analysis (XAUUSD)

The price of gold (16th of April) was around 1763.5 USD/Ounce early today. Under 1-hour-chart technical analysis, the candlestick skyrocketed after the pullback yesterday (15th). It is currently lying between the middle and upper Bollinger Bands. The bands are facing upwards, so it is likely to rise again after the pullback.

Currently, the short-swing upper resistance level lies between 1768.0~1770.0. The current support level lies between 1749.0~1751.0. Investors who wish to go long could consider buying between 1758.0~1760.0 in the short-term and setting the stop loss below 1755.0.

Technical Analysis (EURUSD):

The price of EUR/USD (16th of April) was around 1.19657 early today. Under 1-hour-chart technical analysis, the candlestick pulled back as predicted yesterday (15th). It is currently lying between the middle and lower Bollinger Bands. The bands are facing downwards, so it is likely to continue falling.

Currently, the short-swing upper resistance level lies between 1.19800~1.19900. The current support level lies between 1.19100~1.19200. Investors who wish to sell short could consider selling between 1.19550~1.19650 in the short-term and setting the stop loss above 1.19800.

Technical Analysis (GBPUSD):

The price of GBP/USD (16th of April) was around 1.37801 early today. Under 1-hour-chart technical analysis, the candlestick fluctuated slightly in the swing high yesterday (15th). It is currently fluctuating below the middle Bollinger Band. The bands are facing downwards, so it is likely to decline.

Currently, the short-swing upper resistance level lies between 1.37900~1.38000. The current support level lies between 1.37200~1.37300. Investors who wish to sell short could consider selling between 1.37600~1.37700 in the short-term and setting the stop loss above 1.37850.

Technical Analysis (AUDUSD):

The price of AUD/USD (16th of April) was around 0.77497 early today. Under 1-hour-chart technical analysis, the candlestick continued rising as predicted yesterday (15th), it then pulled back from high. It is currently lying between the middle and lower Bollinger Bands. The bands are facing downwards, so it is likely to decline again after rebounding to the resistance level.

Currently, the short-swing upper resistance level lies between 0.77500~0.77550. The current support level lies between 0.76900~0.76950. Investors who wish to sell short could consider selling between 0.77350~0.77400 in the short-term and setting the stop loss above 0.77480.

Technical Analysis (USOUSD):

The price of USO/USD (16th of April) was around 63.36 this morning. Under 1-hour-chart technical analysis, the candlestick continued rising as predicted yesterday (15th). It is currently fluctuating slightly in the swing high, so it is likely to pull back.

Currently, the short-swing upper resistance level lies between 64.20~64.40. The current support level lies between 61.80~62.00. Investors who wish to sell short could consider selling between 63.40~63.60 in the short-term and setting the stop loss above 63.80.

Technical Analysis (Nas100):

The NASDAQ (16th of April) was around 14013.0 this morning. Under 1-hour-chart technical analysis, the candlestick rebounded from the bottom yesterday (15th). 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 14070.0~14090.0. The current support level lies between 13860.0~13880.0. Investors who wish to go long could consider buying between 13960.0~13980.0 in the short-term and setting the stop loss below 13930.0.

Economic Calendar (16th of April)

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

 TimeCurrencyDataImportance
1.03:00CHYGDP (YoY) (Q1)★★★
2.10:00EURCPI (YoY) (Mar)★★★
3.10:00EURCPI (MoM) (Mar)★★
4.10:30EURTrade Balance (Feb)★★
5.13:30CADWholesale Sales (MoM) (Feb)★★
6.13:30USDHousing Starts (Mar)★★
7.13:30USDBuilding Permits (Mar)★★★
8.15:00USDMichigan Consumer Sentiment (Apr)  ★★

(Importance: maximum three stars★★★)

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.