Technical Analysis (XAUUSD)

The price of gold (04th of May) was around 1792.8 USD/Ounce early today. Under 1-hour-chart technical analysis, the candlestick rebounded as predicted yesterday (3rd). It is currently rebounding and lying between the middle and upper Bollinger Bands. The bands are facing upwards, so it is likely to rebound again after the pullback.

Currently, the short-swing upper resistance level lies between 1798.0~1800.0. The current support level lies between 1783.0~1785.0. Investors who wish to go long could consider buying between 1788.0~1790.0 in the short-term and setting the stop loss below 1785.0.

Technical Analysis (EURUSD):

The price of EUR/USD (04th of May) was around 1.20616 early today. Under 1-hour-chart technical analysis, the candlestick rebounded from the bottom yesterday (3rd). It is currently fluctuating around 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 1.20700~1.20800. 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 (04th of May) was around 1.39076 early today. Under 1-hour-chart technical analysis, after the candlestick fluctuated slightly in the swing low as predicted yesterday (3rd), it rebounded. It is currently fluctuating slightly and lying below the middle Bollinger Band again, so it is likely to drop.

Currently, the short-swing upper resistance level lies between 1.39100~1.39200. The current support level lies between 1.38300~1.38400. Investors who wish to sell short could consider selling between 1.38900~1.39000 in the short-term and setting the stop loss above 1.39100.

Technical Analysis (AUDUSD):

The price of AUD/USD (04th of May) was around 0.77605 early today. Under 1-hour-chart technical analysis, the candlestick rebounded after reaching the bottom yesterday (3rd). It is currently pulling back and 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 0.77700~0.77750. The current support level lies between 0.76900~0.76950. Investors who wish to sell short could consider selling between 0.77400~0.77450 in the short-term and setting the stop loss above 0.77520.

Technical Analysis (USOUSD):

The price of USO/USD (04th of May) was around 64.42 this morning. Under 1-hour-chart technical analysis, the candlestick was fluctuating in the swing low after a pullback yesterday (3rd), it then rebounded sharply. 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 65.40~65.60. The current support level lies between 63.30~63.50. Investors who wish to go long could consider buying between 64.40~64.60 in the short-term and setting the stop loss below 64.20.

Technical Analysis (Nas100):

The NASDAQ (04th of May) was around 13798.8 this morning. Under 1-hour-chart technical analysis, the candlestick at first rebounded as predicted yesterday (3rd), it then pulled back sharply after reaching the resistance level in the swing high. It is currently 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 13800.0~13820.0. The current support level lies between 13700.0~13720.0. Investors who wish to sell short could consider selling between 13770.0~13780.0 in the short-term and setting the stop loss above 13800.0.

Economic Calendar (04th of May)

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

 TimeCurrencyDataImportance
1.05:30AUDRBA Rate Statement ★★★
2.05:30AUDRBA Interest Rate Decision (May)★★★
3.08:00CHF SECO Consumer Climate (Q2)★★
4.09:30GBPManufacturing PMI (Apr)
★★★
5.09:30GBPMortgage Approvals (Mar)
6.13:30USDTrade Balance (Mar)  ★★
7.15:00USDFactory Orders (MoM) (Mar)★★

(Importance: maximum three stars★★★)

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