Daily Technical Analysis: 12 Sept 2023 – Limited Data, Forex Moves Sideways

Here is the daily technical analysis for September 12, 2023. The data and analysis in this bulletin can be widely applied to your trading. However, please note that GICTrade and data providers are not responsible for your trading results.

This responsibility falls on you. Before reviewing today’s technical analysis, register now to join GIC Big Deals, offering exclusive benefits and various exciting prizes. This event is available for a limited time only, from July 10 to December 31, 2023. Also, receive a 30% welcome bonus to increase your margin value when trading.

We will provide you with price movement forecasts in Forex and Commodities, complete with Pivot Point, Resistance, and Support level calculations.


EURUSD



The hourly technical analysis for the EUR/USD pair shows a downward movement, touching the support level at 1.07310 and approaching the next support at 1.07050. The downtrend is also indicated by the FXBot template, where the EUR score is 1.0, lower than the USD score of 5.1. Meanwhile, the bias remains bullish, supported by a buy signal indicated by a green arrow.

Suggest: Sell 1.07310 TP1 1.07050 TP2 1.06790 SL 1.07560

GBPUSD

The hourly analysis for the GBP/USD pair shows an upward movement, touching the resistance level at 1.25410 and heading toward the next resistance at 1.25860. The uptrend is also indicated by the FXBot template, where the GBP score is 6.5, higher than the USD score of 5.4. Meanwhile, the bullish bias is further supported by a buy signal, shown by a green arrow.

Suggest: Buy 1.25410 TP1 1.25860 TP2 1.26260 SL 1.25010

PREVIOUS RANGE
OPEN	HIGH	LOW	CLOSE	PREV.CLOSE	CHANGE	%CHANGE
1.24890	1.25461	1.24612	1.25067	1.24588	0.00479	0.39%
DAILY PIVOT POINT
R3	R2	R1	PIVOT	S1	S2	S3
1.26260	1.25860	1.25410	1.25010	1.24560	1.24160	1.23710

 

AUDUSD

The hourly analysis for the AUD/USD pair indicates an upward movement, touching the resistance level at 0.64440 and moving towards the next resistance at 0.68440. The uptrend is also supported by the FXBot template, where the AUD score is 6.2, higher than the USD score of 5.5. The bullish bias is further reinforced by a buy signal, represented by a green arrow.

Suggest: Buy 0.64440 TP1 0.64650 TP2 0.64840 SL 0.64100

PREVIOUS RANGE
OPEN	HIGH	LOW	CLOSE	PREV.CLOSE	CHANGE	%CHANGE
0.63827	0.64474	0.63716	0.64283	0.63751	0.00532	0.83%
DAILY PIVOT POINT
R3	R2	R1	PIVOT	S1	S2	S3
0.65200	0.64840	0.64440	0.64080	0.63690	0.63320	0.62930

 

USDCHF

The hourly analysis for the USD/CHF pair shows a downward movement, touching the support level at 0.88920 and approaching the next support at 0.88630. However, the downtrend is not yet reflected in the FXBot template, where the CHF score is 3.8, lower than the USD score of 5.5. Meanwhile, the bearish bias is supported by a sell signal, indicated by a red arrow.


Suggest: Sell 0.88920 TP1 0.88790 TP2 0.88630 SL 0.89210

USDJPY

The hourly analysis for the USD/JPY pair shows an upward movement, touching the resistance level at 147.440 and moving toward the next resistance at 148.030. The uptrend is also supported by the FXBot template, where the JPY score is 3.3, lower than the USD score of 5.5. The bullish bias is further confirmed by a buy signal, indicated by a green arrow.

Suggest: Sell 146.700 TP1 146.400 TP2 146.070 SL 147.000

XUL (LOCO LONDON GOLD)

The hourly technical analysis for gold shows an upward movement, reaching the resistance level at 1927.70 and aiming for the next resistance at 1936.20. The bullish bias is also supported by a buy signal, indicated by a green arrow.

Suggest: Buy 1927.70 TP1 1931.50 TP2 1936.20 SL 1922.10

CLSK (OIL)

The hourly technical analysis for oil indicates an upward movement, needing to break through the resistance level at 88.14 to reach the next resistance at 88.80. To shift the bias to bearish, the oil price would need to break below the support level at 87.01 and move toward the next support at 86.61.

Suggest: Sell 88.14 TP1 88.50 TP2 88.80 SL 87.70