Technical Analysis (XAUUSD)

The Forex trading technical analysis reveals the price of gold (16th of September) was around 1953.8 USD/Ounces early today. Under 1-hour-chart technical analysis, it skyrocketed and broke through the swing high as predicted yesterday (15th). As U.S. dollar rose sharply, gold prices plummeted later. The candlestick is currently rebounding and lying below the middle Bollinger Band, with the bands facing downwards. It is likely to decline again after rebounding to the resistance.

Currently, the short-swing upper resistance level lies between 1967.0~1970.0. The current support level lies between 1937.0~1940.0. Investors who wish to sell short could consider selling between 1957.0~1960.0 in the short-term and setting the stop loss above 1963.5.

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

Technical Analysis (EURUSD):

The price of EUR/USD (16th of September) was around 1.18472 early today. Under 1-hour-chart technical analysis, it made a reverse after surging to the resistance level. The candlestick is currently lying between the middle and lower Bollinger Bands, with the bands facing downwards and expanding. It is likely to decline again after rebounding to the resistance level.

Currently, the short-swing upper resistance level lies between 1.18700~1.18800. The current support level lies between 1.18000~1.18100. Investors who wish to sell short could consider selling between 1.18500~1.18600 in the short-term and setting the stop loss above 1.18750.

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

Technical Analysis (GBPUSD):

The price of GBP/USD (16th of September) was around 1.28890 early today. Under 1-hour-chart technical analysis, it continued to rebound as predicted yesterday (15th). There is an ascending channel and the candlestick is currently lying above the middle Bollinger Band, with the bands facing upwards. It is likely to rebound again.

Currently, the short-swing upper resistance level lies between 1.29900~1.30000. The current support level lies between 1.27600~1.27700.

Investors who wish to go long could consider buying between 1.29000~1.29150 in the short-term and setting the stop loss below 1.28790.

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

Technical Analysis (AUDUSD):

The price of AUD/USD (16th of September) was around 0.72988 early today. Under 1-hour-chart technical analysis, it broke through the swing high again after a correction as predicted yesterday (15th). The candlestick is currently dropping over the middle Bollinger Band, lying between the middle and lower Bollinger Bands, with the bands facing downwards. It is likely to decline again after rebounding to the resistance level.

Currently, the short-swing upper resistance level lies between 0.73400~0.73500. The current support level lies between 0.72600~0.72700.

Investors who wish to sell short could consider selling between 0.73100~0.73200 in the short-term and setting the stop loss above 0.73350.

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

Technical Analysis (USOUSD):

The price of USO/USD (16th of September) was around 38.27 this morning. Under 1-hour-chart technical analysis, a bottom was formed and finally rose after a breakout. The candlestick is currently lying between the middle and upper Bollinger Bands, with the bands continuing to face upwards and expanding. It is likely to continue rising sharply.

Currently, the short-swing upper resistance level lies between 39.50~39.60. The current support level lies between 37.90~38.00. Investors who wish to go long could consider buying between 38.55~38.65 in the short-term and setting the stop loss below 38.30.

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

Technical Analysis (Nas100):

The NASDAQ (16th of September) was around 11468.2 this morning. Under 1-hour-chart technical analysis, the bottom was completed. The candlestick is currently surging, lying between the middle and upper Bollinger Bands, with the bands continuing to face upwards. It is likely to continue rebounding.

Currently, the short-swing upper resistance level lies between 11730.0~11750.0. The current support level lies between 11300.0~11320.0. Investors who wish to go long could consider buying between 11470.0~11500.0 in the short-term and setting the stop loss below 11400.0.

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

Economic Calendar (16th of September)

(Source: uk.investing.com)

 TimeCurrencyDataImportance
1.07:00GBPCPI (MoM) (Aug)★★
2.07:00GBPRPI (YoY) (Aug)
3.10:00EURTrade Balance★★
4.13:30USDRetail Sales (MoM) (Aug)★★★
5.13:30CADCPI (MoM) (Aug)★★
6.15:00USDNAHB Housing Market Index (Sep)
7.15:00USDBusiness Inventories (MoM) (Jul)★★
8.15:30USDEIA Refinery Crude Runs (WoW)

(Importance: maximum three stars ★★★)

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