Technical Analysis (XAUUSD)

The market overview reveals that price of gold (2nd of September) was around 1969.1 USD/Ounces early today. Under 1-hour-chart technical analysis, it skyrocketed again as predicted yesterday (1st). As U.S. dollar index rebounded later, gold prices plummeted. The candlestick is currently lying between the middle and lower Bollinger Bands, with the bands expanding and facing downwards, showing a bearish sign. It is likely to drop again after a rebound.

Currently, the short-swing upper resistance level lies between 1973.0~1975.0. The current support level lies between 1948.0~1950.0. Investors who wish to sell short could consider selling between 1965.0~1967.0 in the short-term and setting the stop loss above 1971.5.

Forex Trading Market Analysis for Gold
Forex Trading Market Analysis for Gold

Technical Analysis (EURUSD):

The price of EUR/USD (2nd of September) was around 1.19143 early today. Under 1-hour-chart technical analysis, it rose sharply again as predicted yesterday (1st). As U.S. dollar index rebounded retaliatorily, the Euro plummeted. The candlestick is currently lying between the middle and lower Bollinger Band, with the bands expanding and looking downwards. It is likely to continue dropping.

Currently, the short-swing upper resistance level lies between 1.19400~1.19500. The current support level lies between 1.18500~1.18600. Investors who wish to sell short could consider selling between 1.19050~1.19150 in the short-term and setting the stop loss above 1.19260.

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

Technical Analysis (GBPUSD):

The price of GBP/USD (2nd of September) was around 1.33860 early today. Under 1-hour-chart technical analysis, it continued to rise sharply as predicted yesterday (1st). As U.S. dollar index rebounded retaliatorily, the pound reversed. The candlestick is currently lying between the middle and lower Bollinger Bands, with the bands facing downwards. It is likely to continue dropping.

Currently, the short-swing upper resistance level lies between 1.34100~1.34200. The current support level lies between 1.33000~1.33100.

Investors who wish to sell short could consider selling between 1.33750~1.33850 in the short-term and setting the stop loss above 1.33960.

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

Technical Analysis (AUDUSD):

The price of AUD/USD (2nd of September) was around 0.73740 early today. Under 1-hour-chart technical analysis, it continued to rise as predicted yesterday (1st). The candlestick is currently pulling back and lying between the middle and lower Bollinger Bands, with the bands expanding and facing downwards. It is likely to continue dropping.

Currently, the short-swing upper resistance level lies between 0.73800~0.73850. The current support level lies between 0.73000~0.73050.

Investors who wish to sell short could consider selling between 0.73500~0.73550 in the short-term and setting the stop loss above 0.73650.

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

Technical Analysis (USOUSD):

The price of USO/USD (2nd of September) was around 42.81 this morning. Under 1-hour-chart technical analysis, it rebounded slightly from the bottom. The candlestick is currently lying above the middle Bollinger Band. However, the bands are contracting, it is likely to decline again after the rebound.

Currently, the short-swing upper resistance level lies between 43.25~43.35. The current support level lies between 42.20~42.30. Investors who wish to sell short could consider selling between 42.95~43.05 in the short-term and setting the stop loss above 43.15.

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

Technical Analysis (Nas100):

The NASDAQ (2nd of September) was around 12324.5 this morning. Under 1-hour-chart technical analysis, it rose again as predicted yesterday (1st). The candlestick is currently showing a bullish sign, with the Bollinger Bands continuing to face upwards. It is likely to rise again after a pullback.

Currently, the short-swing upper resistance level lies between 12480.0~12500.0. The current support level lies between 12240.0~12260.0. Investors who wish to go long could consider buying between 12310.0~12330.0 in the short-term and setting the stop loss below 12260.0.

Forex Trading Market Analysis for NASDAQ Nas100
Forex Trading Market Analysis for NASDAQ Nas100

Economic Calendar (2nd of September)

(Source: uk.investing.com)

 TimeCurrencyDataImportance
1.02:30AUDGDP (YoY) (Q2)★★★
2.07:00GBPNationwide HPI (YoY) (Aug)★★
3.10:00EURPPI (MoM) (Jul)
4.13:15USDADP Employment Change★★★
5.15:00USDFactory Orders (MoM) (Jul)★★
6.15:30USDEIA Refinery Crude Runs (WoW)

(Importance: maximum three stars ★★★)

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