Technical Analysis (XAUUSD)

The market analysis reveals that price of gold (3rd of September) was around 1941.9 USD/Ounces early today. Under 1-hour-chart technical analysis, it made a huge reverse as predicted yesterday (2nd). The candlestick is currently rebounding slightly and lying between the middle and lower Bollinger Bands, with the bands continuing to face downwards. It is likely to drop again after rebounding to the resistance level.

Currently, the short-swing upper resistance level lies between 1956.0~1958.0. The current support level lies between 1923.0~1925.0. Investors who wish to sell short could consider selling between 1948.0~1950.0 in the short-term and setting the stop loss above 1953.5.

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

Technical Analysis (EURUSD):

The price of EUR/USD (3rd of September) was around 1.18535 early today. Under 1-hour-chart technical analysis, it made a large reverse as predicted yesterday (2nd). The candlestick is currently lying between the middle and lower Bollinger Bands, with the bands continuing to face downwards and showing a bearish sign. It is likely to continue dropping.

Currently, the short-swing upper resistance level lies between 1.18550~1.18650. The current support level lies between 1.17700~1.17800. Investors who wish to sell short could consider selling between 1.18250~1.18350 in the short-term and setting the stop loss above 1.18480.

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

Technical Analysis (GBPUSD):

The price of GBP/USD (3rd of September) was around 1.33506 early today. Under 1-hour-chart technical analysis, it pulled back as predicted yesterday (2nd). The candlestick is currently lying between the middle and lower Bollinger Bands, with the bands continuing to face downwards. It is likely to continue dropping.

Currently, the short-swing upper resistance level lies between 1.33600~1.33700. The current support level lies between 1.32600~1.32700.

Investors who wish to sell short could consider selling between 1.33200~1.33300 in the short-term and setting the stop loss above 1.33420.

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

Technical Analysis (AUDUSD):

The price of AUD/USD (3rd of September) was around 0.73350 early today. Under 1-hour-chart technical analysis, it made a huge reverse as predicted yesterday (2nd). There is a head and shoulders pattern, and the candlestick is currently lying between the middle and lower Bollinger Bands, with the bands continuing to face downwards. It is likely to continue dropping.

Currently, the short-swing upper resistance level lies between 0.73450~0.73500. The current support level lies between 0.72700~0.72800.

Investors who wish to sell short could consider selling between 0.73200~0.73250 in the short-term and setting the stop loss above 0.73360.

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

Technical Analysis (USOUSD):

The price of USO/USD (3rd of September) was around 41.44 this morning. Under 1-hour-chart technical analysis, it made a huge downtrend after dropping over the ascending channel as predicted yesterday (2nd). The candlestick is currently rebounding slightly from the bottom.

Currently, the short-swing upper resistance level lies between 42.40~42.50. The current support level lies between 41.10~41.20. Investors who wish to go long could consider buying between 41.50~41.60 in the short-term and setting the stop loss below 41.38.

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

Technical Analysis (Nas100):

The NASDAQ (3rd of September) was around 12409.4 this morning. Under 1-hour-chart technical analysis, it made a huge reverse yesterday (2nd). The candlestick then rebounded from the bottom and it is currently fluctuating near the middle Bollinger Band. It is likely to drop again after breaking below the middle band.

Currently, the short-swing upper resistance level lies between 12460.0~12480.0. The current support level lies between 12240.0~12260.0. Investors who wish to sell short could consider selling between 12380.0至12400.0 in the short-term and setting the stop loss above 12430.0.

Forex Trading Market Analysis for NASDAQ (Nas100)
Forex Trading Market Analysis for NASDAQ (Nas100)

Economic Calendar (3rd of September)

(Source: uk.investing.com)

 TimeCurrencyDataImportance
1.02:45CHYCaixin Services PMI (Aug)★★
2.07:30CHFCPI (MoM) (Aug)★★
3.08:50EURFrench Services PMI (Aug)★★
4.08:55EURGerman Services PMI (Aug)★★
5.09:00EURServices PMI (Aug)★★
6.09:30GBPServices PMI (Aug)★★★
7.10:00EURRetail Sales (MoM) (Jul)★★
8.12:30USDChallenger Job Cuts (Aug)
9.13:30USDInitial Jobless Claims★★★★
10.13:30USDTrade Balance (Jul)
11.14:45USDServices PMI (Aug)★★
12.15:00USDISM Non-Manufacturing PMI (Aug)★★★
13.15:30USDNatural Gas Storage

(Importance: maximum three stars ★★★)

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