Technical Analysis (XAUUSD)

The Forex trading technical analysis reveals the price of gold (17th of September) was around 1959.5 USD/Ounces early today. Under 1-hour-chart technical analysis, it dropped after failing to surge as predicted yesterday (16th). The candlestick is currently rebounding slightly and lying between the middle and lower Bollinger Bands, with the bands facing downwards. It is likely to drop again after rebounding to the resistance level.

Currently, the short-swing upper resistance level lies between 1957.0~1960.0. The current support level lies between 1935.0~1938.0. Investors who wish to sell short could consider selling between 1951.0~1954.0 in the short-term and setting the stop loss above 1957.5.

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

Technical Analysis (EURUSD):

The price of EUR/USD (17th of September) was around 1.18472 early today. Under 1-hour-chart technical analysis, it broke through the neckline and slumped after surging to the resistance level as predicted yesterday (16th). The candlestick is currently lying between the middle and lower Bollinger Bands, with the bands facing downwards and expanding. It is likely to drop again after rebounding to the resistance level.

Currently, the short-swing upper resistance level lies between 1.18000~1.18100. The current support level lies between 1.17400~1.17500. Investors who wish to sell short could consider selling between 1.17700~1.17800 in the short-term and setting the stop loss above 1.17900.

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

Technical Analysis (GBPUSD):

The price of GBP/USD (17th of September) was around 1.29656 early today. Under 1-hour-chart technical analysis, it rose again after a correction as predicted yesterday (16th). There is an ascending channel and the candlestick is currently pulling back, with the Bollinger Bands continuing to face upwards. It is likely to rebound again after a correction.

Currently, the short-swing upper resistance level lies between 1.30100~1.30200. The current support level lies between 1.28100~1.28200.

Investors who wish to go long could consider buying between 1.29400~1.29500 in the short-term and setting the stop loss below 1.29250.

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

Technical Analysis (AUDUSD):

The price of AUD/USD (17th of September) was around 0.73006 early today. Under 1-hour-chart technical analysis, it dropped after failing to surge as predicted yesterday (16th). The candlestick is currently lying between the middle and lower Bollinger Bands after breaking out the middle band, 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 0.73100~0.73200. The current support level lies between 0.72400~0.72500.

Investors who wish to sell short could consider selling between 0.72850~0.72950 in the short-term and setting the stop loss above 0.73050.

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

Technical Analysis (USOUSD):

The price of USO/USD (17th of September) was around 40.04 this morning. Under 1-hour-chart technical analysis, it skyrocketed after a correction as predicted yesterday (16th). The candlestick is currently pulling back from high and lying between the middle and upper Bollinger Bands, with the bands continuing to face upwards. It is likely to continue rising after a correction.

Currently, the short-swing upper resistance level lies between 40.50~40.60. The current support level lies between 39.00~39.10. Investors who wish to go long could consider buying between 39.60~39.70 in the short-term and setting the stop loss below 39.40.

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

Technical Analysis (Nas100):

The NASDAQ (17th of September) was around 11270.7 this morning. Under 1-hour-chart technical analysis, the candlestick dropped largely after failing to surge and breaking through the middle Bollinger Band, with the bands continuing to face downwards and expanding. It is likely to decline again after rebounding to the resistance level.

Currently, the short-swing upper resistance level lies between 11300.0~11320.0. The current support level lies between 11000.0~11020.0. Investors who wish to sell short could consider selling between 11150.0~11180.0 in the short-term and setting the stop loss above 11220.0.

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

Economic Calendar (16th of September)

(Source: uk.investing.com)

 TimeCurrencyDataImportance
1.02:30AUDEmployment Change (Aug)★★
2.05:30JPYBoJ Monetary Policy Statement★★★
3.06:15JPYBoJ Interest Rate Decision★★
4.07:00CHFTrade Balance (Aug)
5.10:00EURCPI (MoM) (Aug)★★
6.10:00EURCPI (MoM) (Aug)
7.12:00GBPBoE Interest Rate Decision (Sep)★★★
8.12:00GBPBoE MPC Meeting Minutes★★★
9.13:30USDInitial Jobless Claims★★★
10.13:30USDHousing Starts (Aug)★★
11.13:30USDBuilding Permits (Aug)★★★
12.13:30USDPhiladelphia Fed Manufacturing Index (Sep)★★★
13.15:30USDNatural Gas Storage

(Importance: maximum three stars ★★★)

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