Technical Analysis (XAUUSD)

The price of gold (12th of May) was around 1837.2 USD/Ounce early today. Under 1-hour-chart technical analysis, the candlestick pulled back sharply as predicted yesterday (11th). 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 1838.0~1840.0. The current support level lies between 1813.0~1815.0. Investors who wish to sell short could consider selling between 1830.0~1833.0 in the short-term and setting the stop loss above 1836.0.

Technical Analysis (EURUSD):

The price of EUR/USD (12th of May) was around 1.21490 early today. Under 1-hour-chart technical analysis, the candlestick pulled back after the surge as predicted yesterday (11th). 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 1.21600~1.21700. The current support level lies between 1.20800~1.20900. Investors who wish to sell short could consider selling between 1.21400~1.21500 in the short-term and setting the stop loss above 1.21650.

Technical Analysis (GBPUSD):

The price of GBP/USD (12th of May) was around 1.41425 early today. Under 1-hour-chart technical analysis, the candlestick pulled back after reaching the resistance level in the swing high as predicted yesterday (11th). It 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 1.41600~1.41700. The current support level lies between 1.40400~1.40500. Investors who wish to sell short could consider selling between 1.41200~1.41300 in the short-term and setting the stop loss above 1.41450.

Technical Analysis (AUDUSD):

The price of AUD/USD (12th of May) was around 0.78416 early today. Under 1-hour-chart technical analysis, the candlestick pulled back sharply after rebounding to the resistance level as predicted yesterday (11th). 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 0.78600~0.78650. The current support level lies between 0.77650~0.77700. Investors who wish to sell short could consider selling between 0.78100~0.78150 in the short-term and setting the stop loss above 0.78220.

Technical Analysis (USOUSD):

The price of USO/USD (12th of May) was around 65.45 this morning. Under 1-hour-chart technical analysis, the candlestick rebounded after the pullback yesterday (11th). 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 66.20~66.40. The current support level lies between 64.30~64.50. Investors who wish to go long could consider buying between 65.10~65.30 in the short-term and setting the stop loss below 64.90.

Technical Analysis (Nas100):

The NASDAQ (12th of May) was around 13326.7 this morning. Under 1-hour-chart technical analysis, the candlestick declined again after rebounding to the resistance level as predicted yesterday (11th). 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 13480.0~13500.0. The current support level lies between 13150.0~13170.0. Investors who wish to go long could consider buying between 13280.0~13310.0 in the short-term and setting the stop loss below 13250.0.

Economic Calendar (12th of May)

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

 TimeCurrencyDataImportance
1.07:00EURGerman CPI (MoM) (Apr)★★
2.07:00GBPGDP (YoY) (Q1) ★★★
4.07:00GBPManufacturing Production (MoM) (Mar)★★★
5.07:00GBPTrade Balance (Mar)★★
6.07:00GBPIndustrial Production (MoM) (Mar)★★
7.07:45EURFrench CPI (MoM) (Apr)★★★
8.09:00CHYM2 Money Stock (YoY)★★★
9.10:00EURIndustrial Production (MoM) (Mar)★★
10.13:30USDCPI (YoY) (Apr)
11.13:30USDCPI (MoM) (Apr)★★
12.15:30USDEIA Refinery Crude Runs (WoW)

(Importance: maximum three stars★★★)

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