Technical Analysis (XAUUSD)

The price of gold (31st of May) was around 1902.6 USD/Ounce early today. Under 1-hour-chart technical analysis, the candlestick skyrocketed after the pullback as predicted yesterday (28th). It is currently fluctuating around the middle Bollinger Band. The bands are facing upwards, so it is likely to continue rebounding after standing firmly on the middle band.

Currently, the short-swing upper resistance level lies between 1913.0~1915.0. The current support level lies between 1887.0~1889.0. Investors who wish to go long could consider buying between 1898.0~1900.0 in the short-term and setting the stop loss below 1896.0.

Technical Analysis (EURUSD):

The price of EUR/USD (31st of May) was around 1.21952 early today. Under 1-hour-chart technical analysis, the candlestick pulled back sharply again as predicted yesterday (28th), it then rebounded from the bottom. 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 1.22500~1.22600. The current support level lies between 1.21400~1.21500. Investors who wish to go long could consider buying between 1.21800~1.21900 in the short-term and setting the stop loss below 1.21650.

Technical Analysis (GBPUSD):

The price of GBP/USD (31st of May) was around 1.41869 early today. Under 1-hour-chart technical analysis, the candlestick rebounded again after pulling back sharply last Friday (28th). It is currently 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 1.42300~1.42400. The current support level lies between 1.41400~1.41500. Investors who wish to go long could consider buying between 1.41800~1.41900 in the short-term and setting the stop loss below 1.41650.

Technical Analysis (AUDUSD):

The price of AUD/USD (31st of May) was around 0.77112 early today. Under 1-hour-chart technical analysis, the candlestick plummeted after fluctuating in the swing high last Friday (28th). 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 0.77400~0.77500. The current support level lies between 0.76700~0.76800. Investors who wish to go long could consider buying between 0.77150~0.77220 in the short-term and setting the stop loss above 0.77350.

Technical Analysis (USOUSD):

The price of USO/USD (31st of May) was around 66.53 this morning. Under 1-hour-chart technical analysis, the candlestick pulled back sharply after making a small retracement last Friday (28th). 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 67.40~67.60. The current support level lies between 65.20~65.40. Investors who wish to sell short could consider selling between 66.50~66.70 in the short-term and setting the stop loss above 66.90.

Technical Analysis (Nas100):

The NASDAQ (31st of May) was around 13701.9 this morning. Under 1-hour-chart technical analysis, the candlestick continued fluctuating slightly in the swing high last Friday (28th). It is currently fluctuating around the middle Bollinger Bands, so it is likely to decline again after dropping below the middle band.

Currently, the short-swing upper resistance level lies between 13760.0~13780.0. The current support level lies between 13480.0~13500.0. Investors who wish to sell short could consider selling between 13700.0~13720.0 in the short-term and setting the stop loss above 13750.0.

Economic Calendar (31stof May)

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

 TimeCurrencyDataImportance
1.02:00CHYManufacturing PMI (May)★★★
2.13:00EURGerman CPI (MoM) (May) ★★
3.13:30CARCurrent Account (Q1)

(Importance: maximum three stars★★★)

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