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The following is a technical daily analysis, April 12, 2023. The data and analysis contained in this newsletter can be used on a wide scale for your trading. However, it is important to note that GICTrade and its data providers are not responsible for your trading results. So, it's your own responsibility. Before knowing today's technical analysis, immediately register yourself to take part in the GIC Gebyar Prize and get the main prize, namely Mobile Mitshubshi Expander or Vacation Package to Labuan Bajo for 4 days and 3 nights. In the following, we will inform you about the forecast of price movements in Forex and Commodities which is equipped with the calculation of Pivot points, Resistance and Support levels.
EURUSD
EUR/USD on the 1-hour period is trying to move further upwards needs to break through the resistance level at 1.09277 towards the next resistance level at 1.09600. The upward trend can also be seen from the FXBot template, where the EUR figure is higher by 5.4 than the USD figure of 4.5. Meanwhile, the increase is also supported by a buy signal indicated by a green arrow.
Suggest: Buy 1.09277 TP1 1.09600 TP2 1.09930 SL 1.08890
GBPUSD
Daily technical analysis for the GBP/USD pair on the 1-hour period is trying to move further upwards needs to break through the resistance level at 1.24592 towards the next resistance level at 1.24890. However, the upward trend is still weak as seen from the FXBot template, where the GBP figure is equal to the USD figure of 4.8. Meanwhile, the increase is also supported by a buy signal indicated by a green arrow.
Suggest: Buy 1.24592 TP1 1.24890 TP2 1.245520 SL 1.24100
AUDUSD
AUD/USD on the 1-hour period trying to rebound needs to cross the resistance level at 0.66717 towards the next resistance level at 0.67030. The upward trend can also be seen from the FXBot template, where the AUD figure is higher by 5.4 than the USD figure of 5.0. Meanwhile, the increase is also supported by a buy signal indicated by a green arrow.
Suggest: Buy 0.66717 TP1 0.67030 TP2 0.67270 SL 0.66480
USDCHF
Daily technical analysis for the USD/CHF pair on the 1-hour period trying to rebound needs to cross the resistance level at 0.90346 towards the next resistance level at 0.90533. However, the upside is still quite weak as the USD figure is only slightly higher at 4.5 than the CHF which is at 4.0.
Suggest: Buy 0.90346 TP1 0.90533 TP2 0.90720 SL 0.89940
USDJPY
USD/JPY in the 1-hour period trying to rebound needs to cross the resistance level at 134,050 to the next resistance level at 134,340. However, the gains are still quite weak as the USD figure is only slightly higher at 3.5 than the JPY which is at 2.1. Meanwhile, the increase is also supported by a buy signal indicated by a green arrow.
Suggest: Sell 134.050 TP1 134.340 TP2 134.890 SL 133.510
XUL (LOCO LONDON GOLD)
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Gold prices in the 1-hour period are trying to move further up, touching the 2021.00 resistance area towards the next resistance level at 2025.00. Meanwhile, to change the bias to bearish again, the gold price needs to pass through the support area at 2000.78 towards the next support level at 1987.70.
Suggest: Sell 2025.00 TP1 2016.10 TP2 2006.30 SL 2033.00
CLSK (OIL)
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Daily technical analysis for oil prices on the 1-hour period is moving upwards trying to test the resistance area of 81.80 until towards the next resistance level at 82.23. Meanwhile, to change the bias to bearish, oil prices need to pass the support level of 80.81 to the next support level at 80.04.
Suggest: Buy 81.80 TP1 82.23 TP2 82.99 SL 80.81
So, that's the explanation of "Technical Daily Analysis: April 12, 2023 – Ahead of CPI Release, US Dollar Corrects". Also read our other articles, such as an explanation of how to buy cryptocurrencies, only in the GIC Journal. Don't forget to practice your trading skills by getting the Scalping Ebook and following Live Trading on NFP Live Trading. Make sure, download GIC Mobile Apps on the Google Play Store.
