Gold (XAUUSD):

The Forex trading technical analysis reveals that the price of gold (29th of September) was around 1881.7 USD/Ounces early today. Under 1-hour-chart technical analysis, it pulled back as predicted yesterday (28th), followed by a sharp rebound from the bottom. The candlestick is currently lying between the middle and upper Bollinger Bands, with the bands facing upwards. It is likely to rebound again after a correction.

Currently, the short-swing upper resistance level lies between 1900.0~1902.0. The current support level lies between 1870.0~1872.0. Investors who wish to go long could consider buying between 1880.0~1882.0 in the short-term and setting the stop loss below 1877.5.

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

Technical Analysis (EURUSD):

The price of EUR/USD (29th of September) was around 1.16631 early today. Under 1-hour-chart technical analysis, as the U.S. dollar reversed yesterday (28th), the Euro rebounded. The candlestick is currently lying between the middle and upper Bollinger Bands, with the bands facing upwards. It is likely to rebound again.

Currently, the short-swing upper resistance level lies between 1.17200~1.17300. The current support level lies between 1.16400~1.16500. Investors who wish to go long could consider buying between 1.16650~1.16750 in the short-term and setting the stop loss below 1.16500.

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

Technical Analysis (GBPUSD):

The price of GBP/USD (29th of September) was around 1.28348 early today. Under 1-hour-chart technical analysis, the candlestick broke through the consolidation zone and rose sharply yesterday (28th). However, it is followed by a pullback from the high later. It is currently fluctuating near the middle Bollinger Band, with the bands contracting. It is likely to rise again after a pullback.

Currently, the short-swing upper resistance level lies between 1.29200~1.29300. The current support level lies between 1.28000~1.28100.

Investors who wish to go long could consider buying between 1.28250~1.28350 in the short-term and setting the stop loss below 1.28100.

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

Technical Analysis (AUDUSD):

The price of AUD/USD (29th of September) was around 0.70722 early today. Under 1-hour-chart technical analysis, the candlestick rebounded after touching the bottom yesterday (28th). The candlestick is currently lying between the middle and upper Bollinger Bands, with the bands facing upwards. It is likely to rise again after a small retracement.

Currently, the short-swing upper resistance level lies between 0.71300~0.71400. The current support level lies between 0.70200~0.70300.

Investors who wish to go long could consider buying between 0.70750~0.70850 in the short-term and setting the stop loss below 0.70640.

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

Technical Analysis (USOUSD):

The price of USO/USD (29th of September) was around 40.29 this morning. Under 1-hour-chart technical analysis, it rose sharply again after a correction yesterday (28th). The candlestick is currently fluctuating near the middle Bollinger Band, with the bands facing upwards. It is likely to rise again after a pullback.

Currently, the short-swing upper resistance level lies between 40.70~40.80. The current support level lies between 39.20~39.30. Investors who wish to go long could consider buying between 40.00~40.10 in the short-term and setting the stop loss below 39.85.

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

Technical Analysis (Nas100):

The NASDAQ (29th of September) was around 11396.6 this morning. Under 1-hour-chart technical analysis, it continued to rise sharply as predicted yesterday (28th). The candlestick is currently lying between the middle and upper Bollinger Bands, with the bands facing upwards and expanding. It is likely to continue rising after a pullback.

Currently, the short-swing upper resistance level lies between 11500.0~11520.0. The current support level lies between 11300.0~11320.0. Investors who wish to go long could consider buying between 11380.0~11410.0 in the short-term and setting the stop loss below 11350.0.

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

Economic Calendar (29th of September)

(Source: uk.investing.com)

 TimeCurrencyDataImportance
1.09:30GBPMortgage Approvals (Aug)
2.10:00EURIndustrial Sentiment (Sep)
3.10:00EURConsumer Confidence (Sep)
4.10:00EURBusiness Climate (Sep)
5.13:00EURGerman CPI (YoY) (Sep)★★
6.14:00USDS&P/CS HPI Composite -20 n.s.a. (YoY) (Jul)★★
7.15:00USDCB Consumer Confidence (Sep)★★★

(Importance: maximum three stars ★★★)

Risk Warning !!!

The views or opinions as expressed in the above article represent the personal views or opinions of the author and do not represent those of IV Markets Limited (“IV Markets”). IV Markets has no obligation to independently check or verify the author of the article and the information provided in the article. Accordingly, IV MARKETS does not take responsibility for such article.

This material is for general information purposes only and is not intended as (and should not be considered to be) financial, investment or other advice on which reliance should be placed. IV Markets is not authorized to provide investment advice. No opinion given in the material constitutes a recommendation by IV Markets or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.

Trading with IV Markets can result in losses that exceed your deposits. Consumers should ensure they understand the risk and seek independent financial advice if necessary.

IV Markets is designed for clients to trade in the forex market, it is regulated by the Seychelles Financial Authority (FSA), license number: SD049.