Technical Analysis (XAUUSD)

Technical analysis reveals that the price of gold (31st of August) was around 1967.9 USD/Ounces early today. Under 1-hour-chart technical analysis, it rebounded from the bottom as predicted last Friday (28th). The candlestick is currently lying between the middle and upper Bollinger Bands, with the bands continuing to face upwards and looking bullish. It is likely to rebound again after a pullback.

Currently, the short-swing upper resistance level lies between 1986.0~1988.0. The current support level lies between 1952.0~1954.0. Investors who wish to go long could consider buying between 1958.5~1962.0 in the short-term and setting the stop loss below 1955.5.

Forex Trading Technical Analysis for Gold
Forex Trading Technical Analysis for Gold

Technical Analysis (EURUSD):

The price of EUR/USD (31st of August) was around 1.19071 early today. Under 1-hour-chart technical analysis, it rose again after a correction as predicted last Friday (28th). The candlestick is currently lying between the middle and upper Bollinger Bands, with the bands expanding and looking upwards. It is likely to continue rising.

Currently, the short-swing upper resistance level lies between 1.19500~1.19600. The current support level lies between 1.18800~1.18900. Investors who wish to go long could consider buying between 1.19050~1.19200 in the short-term and setting the stop loss below 1.18900.

Forex Trading Technical Analysis for EURUSD
Forex Trading Technical Analysis for EURUSD

Technical Analysis (GBPUSD):

The price of GBP/USD (31st of August) was around 1.33483 early today. Under 1-hour-chart technical analysis, it continued to rise as predicted last Friday (28th). The candlestick is currently lying between the middle and upper Bollinger Bands, with the bands continuing to face upwards. It is likely to rebound again after a small retracement.

Currently, the short-swing upper resistance level lies between 1.33900~1.34000. The current support level lies between 1.32800~1.32900.

Investors who wish to go long could consider buying between 1.33300~1.33380 in the short-term and setting the stop loss below 1.33200.

Forex Trading Technical Analysis for GBPUSD
Forex Trading Technical Analysis for GBPUSD

Technical Analysis (AUDUSD):

The price of AUD/USD (31st of August) was around 0.73625 early today. Under 1-hour-chart technical analysis, it continued to rise as predicted last Friday (28th). The candlestick is currently lying between the middle and upper Bollinger Bands, with the bands continuing to face upwards and expand. It is likely to rise again after a correction.

Currently, the short-swing upper resistance level lies between 0.74000~0.74050. The current support level lies between 0.73000~0.73050.

Investors who wish to go long could consider buying between 0.73500~0.73580 in the short-term and setting the stop loss below 0.73400.

Forex Trading Technical Analysis for AUDUSD
Forex Trading Technical Analysis for AUDUSD

Technical Analysis (USOUSD):

The price of USO/USD (31st of August) was around 42.70 this morning. Under 1-hour-chart technical analysis, a large symmetric triangle was formed. The candlestick is currently lying between the middle and upper Bollinger bands, with the bands facing upwards. It is likely to rise again after a correction.

Currently, the short-swing upper resistance level lies between 43.50~43.60. The current support level lies between 42.60~42.70. Investors who wish to go long could consider buying between 42.80~42.90 in the short-term and setting the stop loss below 42.70.

Forex Trading Technical Analysis for US Oil
Forex Trading Technical Analysis for US Oil

Technical Analysis (Nas100):

The NASDAQ (31st of August) was around 12008.4 this morning. Under 1-hour-chart technical analysis, it continued to rise as predicted last Friday (28th). The candlestick is currently lying between the middle and upper Bollinger Bands, yet the bands are not expanding at the moment. It is likely to pull back.

Currently, the short-swing upper resistance level lies between 12150.0~12170.0. The current support level lies between 11930.0~11950.0. Investors who wish to sell short could consider selling between 12080.0~12095.0 in the short-term and setting the stop loss above 12110.0.

Forex Trading Technical Analysis for NASDAQ Nas100
Forex Trading Technical Analysis for NASDAQ Nas100

Economic Calendar (31st of August)

(Source: uk.investing.com)

 TimeCurrencyDataImportance
1.02:00CHYManufacturing PMI★★★
2.07:30CHFRetails Sales (YoY) (Jul)★★
3.13:00EURGerman CPI (YoY) (Aug)
4.15:30USDDallas Fed Mfg Business Index (Aug)

(Importance: maximum three stars ★★★)

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