Technical Analysis (XAUUSD)

The price of gold (4th of September) was around 1931.7 USD/Ounces early today. Under 1-hour-chart technical analysis, it made a reverse as predicted yesterday (3rd). There is a small descending channel and the candlestick is currently lying between the middle and upper Bollinger Bands, with the bands facing upwards. It is likely to rebound.

Currently, the short-swing upper resistance level lies between 1952.0~1954.0. The current support level lies between 1925.0~1927.0. Investors who wish to go long could consider buying between 1936.0~1939.0 in the short-term and setting the stop loss below 1932.5.

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

Technical Analysis (EURUSD):

The price of EUR/USD (4th of September) was around 1.18494 early today. Under 1-hour-chart technical analysis, as U.S. dollar continued to rise as predicted yesterday (3rd), the Euro declined. The candlestick is currently rebounding and lying between the middle and upper Bollinger Bands, with the bands facing upwards. It is likely to rebound.

Currently, the short-swing upper resistance level lies between 1.18900~1.19000. The current support level lies between 1.18100~1.18200. Investors who wish to go long could consider buying between 1.18400~1.18500 in the short-term and setting the stop loss below 1.18250.

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

Technical Analysis (GBPUSD):

The price of GBP/USD (4th of September) was around 1.32752 early today. Under 1-hour-chart technical analysis, it dropped again as predicted yesterday (3rd). The candlestick is currently rebounding and lying between the middle and upper Bollinger Bands, with the bands facing upwards. It is likely to rebound.

Currently, the short-swing upper resistance level lies between 1.33600~1.33700. The current support level lies between 1.32400~1.32500.

Investors who wish to go long could consider buying between 1.32900~1.33000 in the short-term and setting the stop loss below 1.32750.

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

Technical Analysis (AUDUSD):

The price of AUD/USD (4th of September) was around 0.72715 early today. Under 1-hour-chart technical analysis, it continued to drop as predicted yesterday (3rd). The candlestick is currently showing a bearish sign and 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 0.73000~0.73050. The current support level lies between 0.72200~0.72250.

Investors who wish to sell short could consider selling between 0.72700~0.72750 in the short-term and setting the stop loss above 0.72840.

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

Technical Analysis (USOUSD):

The price of USO/USD (4th of September) was around 41.07 this morning. Under 1-hour-chart technical analysis, it took a nosedive, dropping below 42 U.S. dollar yesterday (3rd). Currently, the Bollinger Bands are continuously facing downwards. It is likely to decline again after a rebound.

Currently, the short-swing upper resistance level lies between 41.80~41.90. The current support level lies between 40.10~40.20. Investors who wish to sell short could consider selling between 40.85~40.95 in the short-term and setting the stop loss above 41.1.

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

Technical Analysis (Nas100):

The NASDAQ (4th of September) was around 11734.7 this morning. Under 1-hour-chart technical analysis, it slumped to under 12000 level as predicted yesterday (3rd) and the fall was expanding later. The candlestick is currently fluctuating slightly at the bottom. It is likely to drop again after a rebound.

Currently, the short-swing upper resistance level lies between 11840.0~11860.0. The current support level lies between 11500.0~11520.0. Investors who wish to sell short could consider selling between 11780.0~11800.0 in the short-term and setting the stop loss above 11830.0.

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

Economic Calendar (4th of September)

(Source: uk.investing.com)

 TimeCurrencyDataImportance
1.13:30USDUnemployment Rate (Aug)★★★
2.13:30USDNonfarm Payrolls (Aug)★★★
3.13:30CADEmployment Change (Aug)★★★

(Importance: maximum three stars ★★★)

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