The price of gold (02nd of November) was around 1880 USD/Ounce early today. According to the daily chart, the candlestick rebounded. The prices continue to rise as the Presidential Election date approaches and the cases of novel coronavirus continue to climb. If the prices spike and penetrate the 5-days moving average, it is likely to reach 1900 USD.
According to the 15-minutes Bollinger Bands, more attention should be paid to the support at 1880. Investors could consider buying at 1877.47 or 1879.83 if the market is crashed by the economic figures released by US and European countries. The resistance level lies between 1889.77~1896.52 where the downtrend started last week. If the prices dive below 1974.00 USD/Ounces, stop loss should be set. Furthermore, investors should focus on the lower support level between 1869.43~1874.17.
The price of EUR/USD (02nd of November) was around 1.1640 early today. According to the daily chart, the candlestick broke the consolidation zone and fell to a new low. The bullish divergence on Stochastic Oscillator is weakening, if it failed to rebound and pass 1.1700 interval, it might continue the bearish trend.
According to the 15-minutes Bollinger Bands, it is suggested to sell if the price fails to rise over 1.1648. The near support level lies between 1.1616~1.1631 and the resistance level lies between 1.1684~1.1699. Investors who wish to sell short could consider selling between 1.1645~1.1653 in the short-term and setting the stop loss above 1.1660.
The price of GBP/USD (02nd of November) was around 1.2950 early today. According to the daily chart, the candlestick dropped over the 30-day moving average. If the rebound does not surpass the moving average, it is likely to set new low for the week after digging below 1.2900.
According to the 15-minutes Bollinger Bands, Investors could sell if the prices fail to penetrate the consolidation zone in the rebound. The short-swing upper resistance level lies between 1.2926~1.2943. The current support level lies between 1.2862~1.2880. Investors who wish to short sell could consider selling between 1.2916~1.2926 in the short-term and setting the stop loss above 1.2936.
The price of AUD/USD (02nd of November) broke below the 0.7000 mark twice early today, but Bulls then entered the market, leading to the rebound. According to the daily chart, Doji reversal candlestick pattern appeared last Friday’s (30th), if the prices are able to fluctuate near 0.7000, it is likely to rebound and test the 5-days moving average.
According to the 15-minutes Bollinger Bands, the current support level lies between 0.6995~0.7005. It is likely to challenge the short-swing upper resistance level that lies between 0.7037~0.7050. Investors who wish to go long could consider buying between 0.7000~0.7006 in the short-term and setting the stop loss below 0.6995.
After a significant slump, the prices of USO/USD (02nd of November) rebounded and consolidated at 34.00 this morning. A Doji reversal candlestick formed on last Friday (30th), If the price fails to surpass last week’s consolidated price at 35.50 USD, it is likely to continue hitting a new low once dipping below 34 USD.
According to the 15-minutes Bollinger Bands, the prices stayed above 34 USD early in the morning. The short-swing upper resistance level lies between 35.02~35.49. The current support level lies between 33.47~33.97. Investors who wish to sell short could consider selling between 34.51~35.02 in the short-term and setting the stop loss above 35.50.
The NASDAQ (02nd of November) was around 11000 this morning. According to the daily chart, the long-wick lower shadow and the divergence of Stochastic Oscillator are both signals indicating the reversal. If the prices can be maintained near 11000, it is likely to reach the 5-days moving average.
According to the 15-minutes Bollinger Bands, the short-swing upper resistance level lies between 11202.7~11260.2. The current support level lies between 10975.5~11045.2. Investors who wish to go long could consider buying between 11045.2~11058.9 in the short-term and setting the stop loss below 10975.5.
|2.||09:50||EUR||French Manufacturing PMI (Oct)||★★|
|3.||09:55||EUR||German Manufacturing PMI (Oct)||★★★|
|4.||10:00||EUR||Manufacturing PMI (Oct)||★★|
|5.||10:30||GBP||Manufacturing PMI (Oct)||★★★|
|6.||15:45||USD||Manufacturing PMI (Oct)||★★|
|7.||16:00||USD||ISM Manufacturing PMI (Oct)||★★★|
|8.||16:00||USD||Construction Spending (MoM) (Sep)||★|
(Importance: maximum three stars ★★★)
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 Gemini Capital LLC (“GC”). GC has no obligation to independently check or verify the author of the article and the information provided in the article. Accordingly, GC 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. GC is not authorized to provide investment advice. No opinion given in the material constitutes a recommendation by GC or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.
Trading with GC can result in losses that exceed your deposits. Consumers should ensure they understand the risk and seek independent financial advice if necessary.
Gemini Capital LLC is a company duly incorporated in Saint Vincent & The Grenadines and registered by the Financial Services Authority (‘FSA’) under Number 228 LLC 2019. Our registered address is located at Hinds Building, Kingstown, Saint Vincent and the Grenadines.
All investments entail risks and may result in both profits and losses. In particular, trading leveraged derivative products such as Foreign Exchange (Forex) and Contracts for Difference (CFDs) carries a high level of risk to your capital. All these derivative products, many of which are leveraged, may not be appropriate for all investors. The effect of leverage is that both gains and losses are magnified. The prices of leveraged derivative products may change to your disadvantage very quickly, it is possible for you to lose more than your invested capital and you may be required to make further payments. It is important that you understand that with investments, your capital is at risk. Past performance is not a guide to future performance. It is your responsibility to ensure that you make an informed decision about whether or not to invest with us. Before deciding to invest in any financial product, you should carefully consider your investment objectives, trading knowledge and experience and affordability. You should seek independent professional financial advice if you do not understand the risks involved. You should only trade in Forex and CFDs if you have sufficient knowledge and experience of the risks involved in trading such products and if you are dealing with money that you can afford to lose. GC assumes no liability for any loss sustained from trading in accordance with a recommendation. This website, including the information and materials contained in it, are not directed at, or intended for distribution to or use by, any person or entity who is a citizen or resident of or located in the United States or any other jurisdiction where such distribution, publication, availability or use would be contrary to applicable law or regulation.
GC Markets is a Trading Name of Gemini Capital LLC. Gemini Capital LLC (“GC”) is a company duly incorporated in Saint Vincent & The Grenadines and registered by the Financial Services Authority (‘FSA’) under Number 228 LLC 2019. GC is also registered as a Money Services Business (“MSB”) with the Financial Transactions and Reports Analysis Centre of Canada (“FINTRAC”) under Number M20513484 and registered with National Futures Association (“NFA”) of United States of America under Number 0533039. Our registered address is located at Hinds Building, Kingstown, Saint Vincent and the Grenadines.