Technical Analysis (XAUUSD)

The Forex trading technical analysis reveals that the price of gold (6th of October) was around 1911.9 USD/Ounces early today. Under 1-hour-chart technical analysis, it pulled back as predicted yesterday (5th), followed by a sharp rebound after touching the support level at the low point. The candlestick is currently lying above the middle Bollinger Band with fluctuations, and the bands are contracting. It is likely to continue pulling back.

Currently, the short-swing upper resistance level lies between 1920.0~1922.0. The current support level lies between 1900.0~1902.0. Investors who wish to sell short could consider selling between 1911.0~1913.0 in the short-term and setting the stop loss above 1916.5.

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

Technical Analysis (EURUSD):

The price of EUR/USD (6th of October) was around 1.17803 early today. Under 1-hour-chart technical analysis, it rebounded and broke through the swing high as predicted yesterday (5th). The candlestick is currently fluctuating above the middle Bollinger Band, with the bands contracting. It is likely to pull back.

Currently, the short-swing upper resistance level lies between 1.18050~1.18150. The current support level lies between 1.17500~1.17600. Investors who wish to sell short could consider selling between 1.17900~1.17950 in the short-term and setting the stop loss above 1.18100.

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

Technical Analysis (GBPUSD):

The price of GBP/USD (6th of October) was around 1.29732 early today. Under 1-hour-chart technical analysis, it rose sharply and broke out the swing high as predicted yesterday (5th). The candlestick is currently 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 1.30150~1.30250. The current support level lies between 1.29400~1.29500.

Investors who wish to go long could consider buying between 1.29850~1.29950 in the short-term and setting the stop loss below 1.29700.

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

Technical Analysis (AUDUSD):

The price of AUD/USD (6th of October) was around 0.71784 early today. Under 1-hour-chart technical analysis, the candlestick continued to rise yesterday (5th), it is currently fluctuating slightly above the middle Bollinger Band, with the bands contracting. It is likely to decline after rebounding to the resistance level.

Currently, the short-swing upper resistance level lies between 0.72100~0.72150. The current support level lies between 0.71400~0.71450.

Investors who wish to sell short could consider selling between 0.71900~0.71950 in the short-term and setting the stop loss above 0.72020.

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

Technical Analysis (USOUSD):

The price of USO/USD (6th of October) was around 39.18 this morning. Under 1-hour-chart technical analysis, it rose sharply as predicted yesterday (5th). The candlestick is currently pulling back after surging to the resistance level, it is fluctuating near the middle Bollinger Band, with the bands contracting. It is likely to continue dropping.

Currently, the short-swing upper resistance level lies between 39.60~39.70. The current support level lies between 38.20~38.30. Investors who wish to sell short could consider selling between 38.95~39.05 in the short-term and setting the stop loss above 39.30.

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

Technical Analysis (Nas100):

The NASDAQ (6th of October) was around 11484.9 this morning. Under 1-hour-chart technical analysis, the candlestick rebounded from the bottom yesterday (5th). It is currently fluctuating above the middle Bollinger Band after a pullback by touching the resistance level, with the bands contracting. It is likely to decline.

Currently, the short-swing upper resistance level lies between 11570.0~11590.0. The current support level lies between 11300.0~11320.0. Investors who wish to sell short could consider selling between 11450.0~11470.0 in the short-term and setting the stop loss above 11500.0.

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

Economic Calendar (06th of October)

(Source: uk.investing.com)

 TimeCurrencyDataImportance
1.04:30AUDRBA Rate Statement★★★
2.04:30AUDRBA Interest Rate Decision★★★
3.13:30USDTrade Balance (Aug)★★★

(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.