Technical Analysis (XAUUSD)

The Forex trading technical analysis reveals that the price of gold (05th of October) was around 1901.4 USD/Ounces early today. Under 1-hour-chart technical analysis, it pulled back as predicted last Friday (2nd). The candlestick is lying between the middle and lower Bollinger Bands, with the bands contracting. It is likely to drop again after rebounding to the resistance level.

Currently, the short-swing upper resistance level lies between 1914.0~1916.0. The current support level lies between 1885.0~1887.0. Investors who wish to sell short could consider selling between 1898.0~1900.0 in the short-term and setting the stop loss above 1904.5.

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

Technical Analysis (EURUSD):

The price of EUR/USD (05th of October) was around 1.17111 early today. Under 1-hour-chart technical analysis, it pulled back as predicted last Friday (2nd). The candlestick is currently rebounding and lying between the middle and upper Bollinger Bands, with the bands facing upwards. It is likely to continue rebounding.

Currently, the short-swing upper resistance level lies between 1.17500~1.17600. The current support level lies between 1.16900~1.17000. Investors who wish to go long could consider buying between 1.17150~1.17250 in the short-term and setting the stop loss below 1.17050.

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

Technical Analysis (GBPUSD):

The price of GBP/USD (05th of October) was around 1.29177 early today. Under 1-hour-chart technical analysis, it rebounded sharply after touching the bottom last Friday (2nd). 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 1.30000~1.30100. The current support level lies between 1.28900~1.29000.

Investors who wish to go long could consider buying between 1.29350~1.29450 in the short-term and setting the stop loss below 1.29200.

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

Technical Analysis (AUDUSD):

The price of AUD/USD (05th of October) was around 0.71612 early today. Under 1-hour-chart technical analysis, the candlestick rebounded again after a correction, it is now lying between the middle and upper Bollinger Bands, with the bands facing upwards and expanding. It is likely to continue the rebound.

Currently, the short-swing upper resistance level lies between 0.72150~0.72200. The current support level lies between 0.71400~0.71450.

Investors who wish to go long could consider buying between 0.71750~0.71800 in the short-term and setting the stop loss below 0.71620.

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

Technical Analysis (USOUSD):

The price of USO/USD (05th of October) was around 36.87 this morning. Under 1-hour-chart technical analysis, the candlestick is currently rebounding from the bottom, lying between the middle and upper Bollinger Bands, with the bands facing upwards and expanding. It is likely to rebound.

Currently, the short-swing upper resistance level lies between 38.40~38.50. The current support level lies between 36.50~36.60. Investors who wish to go long could consider buying between 37.40~37.50 in the short-term and setting the stop loss below 37.20.

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

Technical Analysis (Nas100):

The NASDAQ (05th of October) was around 11325.8 this morning. Under 1-hour-chart technical analysis, it pulled back as predicted last Friday (2nd). The candlestick is currently rebounding from the bottom and fluctuating slightly near the middle Bollinger Band, with the bands contracting. It is likely to decline again after rebounding to the resistance level.

Currently, the short-swing upper resistance level lies between 11440.0~11460.0. The current support level lies between 11150.0~11170.0. Investors who wish to sell short could consider selling between 11380.0~11400.0 in the short-term and setting the stop loss above 11430.0.

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

Economic Calendar (5th of October)

(Source: uk.investing.com)

 TimeCurrencyDataImportance
1.08:50EURFrench Services PMI (Sep)★★
2.08:55EURGerman Services PMI (Sep)★★
3.09:00EURServices PMI★★
4.09:30EURSentix Investor Confidence (Oct)
5.09:30GBPServices PMI★★★
6.10:00EURRetail Sales (MoM) (Aug)★★
7.14:45USDServices PMI (Sep)★★
8.15:00USDISM Non-Manufacturing PMI (Sep)★★★

(Importance: maximum three stars★★★)

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