Technical Analysis (XAUUSD)

The price of gold (06th of May) was around 1786.8 USD/Ounce early today. Under 1-hour-chart technical analysis, the candlestick pulled back as predicted yesterday (5th), 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 rebound again after the pullback.

Currently, the short-swing upper resistance level lies between 1795.0~1797.0. The current support level lies between 1775.0~1777.0. Investors who wish to go long could consider buying between 1785.0~1787.0 in the short-term and setting the stop loss below 1782.0.

Technical Analysis (EURUSD):

The price of EUR/USD (06h of May) was around 1.20065 early today. Under 1-hour-chart technical analysis, the candlestick continued pulling back as predicted yesterday (5th). It is currently rebounding and 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 1.20400~1.20500. The current support level lies between 1.19700~1.19800. Investors who wish to sell short could consider selling between 1.20150~1.20250 in the short-term and setting the stop loss above 1.20350.

Technical Analysis (GBPUSD):

The price of GBP/USD (06th of May) was around 1.39035 early today. Under 1-hour-chart technical analysis, the candlestick continued fluctuating slightly yesterday (5th). It is currently rebounding and lying between the middle and upper Bollinger Band. The bands are facing upwards, so it is likely to continue rebounding.

Currently, the short-swing upper resistance level lies between 1.39600~1.39700. The current support level lies between 1.38700~1.38800. Investors who wish to go long could consider buying between 1.39050~1.39150 in the short-term and setting the stop loss below 1.38900.

Technical Analysis (AUDUSD):

The price of AUD/USD (06th of May) was around 0.77441 early today. Under 1-hour-chart technical analysis, the candlestick rebounded from the bottom yesterday (5th). It is currently fluctuating slightly after the surge, so it is likely to decline again after dropping below the support level of the middle Bollinger Band.

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 0.77450~0.77500 in the short-term and setting the stop loss above 0.77580.

Technical Analysis (USOUSD):

The price of USO/USD (06th of May) was around 65.24 this morning. Under 1-hour-chart technical analysis, the candlestick pulled back after surging to the resistance level yesterday (5th). 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 66.70~66.90. The current support level lies between 64.20~64.40. Investors who wish to sell short could consider selling between 65.60~65.80 in the short-term and setting the stop loss above 65.95.

Technical Analysis (Nas100):

The NASDAQ (06th of May) was around 13496.9 this morning. Under 1-hour-chart technical analysis, the candlestick fell again after rebounding to the resistance level as predicted yesterday (5th). It is currently lying between the middle and lower Bollinger Bands. 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 13660.0~13690.0. The current support level lies between 13340.0~13370.0. Investors who wish to sell short could consider selling between 13510.0~13530.0 in the short-term and setting the stop loss above 13580.0.

Economic Calendar (06th of May)

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

 TimeCurrencyDataImportance
1.09:30GBPServices PMI (Apr)★★★
2.10:00EURRetail Sales (MoM) (Mar)★★
3.12:00GBPBoE Interest Rate Decision (May)★★★
4.12:00GBPBoE QE Total (May)★★
5.12:30USDChallenger Job Cuts (Apr)
6.13:30USDInitial Jobless Claims★★★
7.15:30USDNatural Gas Storage

(Importance: maximum three stars★★★)

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