Technical Analysis (XAUUSD)

The price of gold (21st of May) was around 1877.2 USD/Ounce early today. Under 1-hour-chart technical analysis, the candlestick rebounded after fluctuating slightly yesterday (20th). It is currently pulling back and lying below the middle Bollinger Band. The bands are facing downwards, so it is likely to decline again after dipping below the middle band.

Currently, the short-swing upper resistance level lies between 1885.0~1888.0. The current support level lies between 1855.0~1858.0. Investors who wish to sell short could consider selling between 1871.0~1874.0 in the short-term and setting the stop loss above 1877.0.

Technical Analysis (EURUSD):

The price of EUR/USD (21st of May) was around 1.22286 early today. Under 1-hour-chart technical analysis, the candlestick continued rising sharply yesterday (20th). It is currently rising and fluctuating around the middle Bollinger Band. The bands are contracting, so it is likely to pullback.

Currently, the short-swing upper resistance level lies between 1.22500~1.22600. The current support level lies between 1.21700~1.21800. Investors who wish to sell short could consider selling between 1.22300~1.22400 in the short-term and setting the stop loss above 1.22550.

Technical Analysis (GBPUSD):

The price of GBP/USD (21st of May) was around 1.41899 early today. Under 1-hour-chart technical analysis, the candlestick skyrocketed yesterday (20th). It is currently pulling back after surging to the swing high and fluctuating around the middle Bollinger Band. The bands are contracting, so it is likely to continue declining.

Currently, the short-swing upper resistance level lies between 1.42000~1.42100. The current support level lies between 1.41100~1.41200. Investors who wish to sell short could consider selling between 1.41750~1.41850 in the short-term and setting the stop loss above 1.42000.

Technical Analysis (AUDUSD):

The price of AUD/USD (21st of May) was around 0.77711 early today. Under 1-hour-chart technical analysis, the candlestick rebounded slightly yesterday (20th). It is currently pulling back and 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 0.77900~0.77950. The current support level lies between 0.77000~0.77050. Investors who wish to sell short could consider selling between 0.77550~0.77600 in the short-term and setting the stop loss above 0.77680.

Technical Analysis (USOUSD):

The price of USO/USD (21st of May) was around 61.86 this morning. Under 1-hour-chart technical analysis, the candlestick plummeted again after rebounding slightly to the resistance level yesterday (20th). 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 63.00~63.20. The current support level lies between 61.00~61.20. Investors who wish to sell short  could consider selling between 61.85~62.00 in the short-term and setting the stop loss above 62.25.

Technical Analysis (Nas100):

The NASDAQ (21st of May) was around 13494.2 this morning. Under 1-hour-chart technical analysis, the candlestick rebounded sharply yesterday (20th). It is currently lying between the middle and upper Bollinger Bands. The bands are facing upwards and expanding, so it is likely to continue rebounding.

Currently, the short-swing upper resistance level lies between 13680.0~13700.0. The current support level lies between 13380.0~13400.0. Investors who wish to go long could consider buying between 13480.0~13500.0 in the short-term and setting the stop loss below 13450.0.

Economic Calendar (20thof May)

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

 TimeCurrencyDataImportance
1.00:01GBP  GfK Consumer Confidence (May)
2.00:30JPY  National Core CPI (YoY) (Apr)★★
3.07:00GBP  Retail Sales (MoM) (Apr)★★★
4.08:15EUR  French Manufacturing PMI (May)  ★★
5.08:30EUR  German Manufacturing PMI (May)★★★
6.09:00EUR  Manufacturing PMI (May)★★
7.09:30GBP  Manufacturing PMI (May)    ★★★
8.09:30GBP  Services PMI (May)★★★
9.13:30CAD  Retail Sales (MoM) (Mar)★★
10.14:45USD  Manufacturing PMI (May)★★
11.14:45USD  Services PMI (May)    ★★
12.15:00USD  Existing Home Sales (MoM) (Apr)  ★★

(Importance: maximum three stars★★★)

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