Technical Analysis (XAUUSD)

The price of gold (03rd of May) was around 1768.3 USD/Ounce early today. Under 1-hour-chart technical analysis, the candlestick pulled back last Friday (30th), it then rebounded from the bottom. It is currently rebounding and 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 1778.0~1780.0. The current support level lies between 1758.0~1760.0. Investors who wish to go long could consider buying between 1770.0~1772.0 in the short-term and setting the stop loss below 1767.0.

Technical Analysis (EURUSD):

The price of EUR/USD (03rd of May) was around 1.20258 early today. Under 1-hour-chart technical analysis, after the candlestick fluctuated slightly in the swing high last Friday (30th), it plummeted. It is currently rebounding from deep and lying below the middle Bollinger Band. The bands are facing downwards, so it is likely to drop again after rebounding to the resistance level.

Currently, the short-swing upper resistance level lies between 1.20600~1.20700. The current support level lies between 1.20000~1.20100. Investors who wish to sell short could consider selling between 1.21300~1.21380 in the short-term and setting the stop loss above 1.21500.

Technical Analysis (GBPUSD):

The price of GBP/USD (03rd of May) was around 1.38106 early today. Under 1-hour-chart technical analysis, after the candlestick fluctuated in the swing high last Friday (30th), it plummeted. It is currently fluctuating slightly in the swing low after falling deep, so it is likely to rebound. 

Currently, the short-swing upper resistance level lies between 1.38700~1.388000. The current support level lies between 1.37900~1.38000. Investors who wish to go long could consider buying between 1.38200~1.38300 in the short-term and setting the stop loss below 1.38100.

Technical Analysis (AUDUSD):

The price of AUD/USD (03rd of May) was around 0.77152 early today. Under 1-hour-chart technical analysis, the candlestick plummeted as predicted last Friday (30th), it then rebounded from deep. It is currently lying between the middle and lower Bollinger Bands. The bands are facing downwards, so it is likely to continue declining.

Currently, the short-swing upper resistance level lies between 0.77400~0.77500. The current support level lies between 0.76800~0.76900. Investors who wish to sell short could consider selling between 0.77250~0.77300 in the short-term and setting the stop loss above 0.77390.

Technical Analysis (USOUSD):

The price of USO/USD (03rd of May) was around 63.50 this morning. Under 1-hour-chart technical analysis, the candlestick pulled back sharply after fluctuating in the swing high last Friday (30th). 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 64.30~64.50. The current support level lies between 62.30~62.50. Investors who wish to sell short could consider selling between 63.60~63.80 in the short-term and setting the stop loss above 64.10.

Technical Analysis (Nas100):

The NASDAQ (03rd of May) was around 13886.8 this morning. Under 1-hour-chart technical analysis, after the candlestick pulled back last Friday (30th), it rebounded. It is currently lying below the middle Bollinger Band. 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 13960.0~13980.0. The current support level lies between 13800.0~13820.0. Investors who wish to sell short could consider selling between 13890.0~13910.0 in the short-term and setting the stop loss above 13940.0.

Economic Calendar (03rdof May)

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

 TimeCurrencyDataImportance
1.08:50EURFrench Manufacturing PMI (Apr)★★
2.08:55EURGerman Manufacturing PMI (Apr)★★★
3.09:00EURManufacturing PMI (Apr)★★
4.14:45USDManufacturing PMI (Apr)★★
5.15:00USDISM Manufacturing PMI (Apr)★★★
6.15:00USDConstruction Spending (MoM) (Mar)

(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.