Daily Technical Analysis: August 15, 2023 – Yields Rise, U.S. Dollar Strengthens

Here is the daily technical analysis for August 15, 2023. The data and analysis in this bulletin can be widely used for your trading. However, it's important to note that GICTrade and the data providers are not responsible for your trading results.

Therefore, the responsibility lies with you. Before diving into today’s technical analysis, register for the GIC Gebyar Hadiah event and stand a chance to win the grand prize: a Mitsubishi Expander or a vacation package to Labuan Bajo for 4 days and 3 nights.

We will now provide forecasts for price movements in Forex and Commodities, including calculations for pivot points, resistance, and support levels.

EURUSD



The daily technical analysis for the EUR/USD pair on the 1-hour chart shows an attempt to move upward, reaching a resistance level at 1.09200 and aiming for the next resistance level at 1.09670. The upward trend is also evident from the FXBot template, where the EUR figure is higher at 4.0 compared to the USD's 2.1. Meanwhile, the bullish bias is supported by a buy signal indicated by a green arrow.

Suggest: Buy 1.09200 TP1 1.09450 TP2 1.09670 SL 1.08900

GBPUSD



The GBP/USD pair on the 1-hour chart is attempting to move upward, reaching a resistance level at 1.27000 and targeting the next resistance level at 1.27750. However, the upward trend is not yet visible from the FXBot template, where the GBP figure is lower at 2.0 compared to the USD's 2.1. Meanwhile, the bullish bias is countered by a sell signal indicated by a red arrow.

Suggest: Buy 1.27000 TP1 1.27390 TP2 1.27750 SL 1.26770

AUDUSD

The AUD/USD pair on the 1-hour chart is attempting to move upward, reaching a resistance level at 0.65120 and aiming for the next resistance level at 0.65610. The upward trend is also evident from the FXBot template, where the AUD figure is higher at 8.2 compared to the USD's 2.5. Meanwhile, the bullish bias is supported by a buy signal indicated by a green arrow.

Suggest: Buy 0.65120 TP1 0.65310 TP2 0.65610 SL 0.64820

USDCHF



The daily technical analysis for the USD/CHF pair on the 1-hour chart indicates an attempt to move downward, reaching a support level at 0.87600 and targeting the next support level at 0.87280. The downward trend is also evident from the FXBot template, where the CHF figure is higher at 6.1 compared to the USD's 2.2. Meanwhile, the bearish bias is supported by a sell signal indicated by a red arrow.

Suggest: Sell 0.87600 TP1 0.87400 TP2 0.87280 SL 0.87800

USDJPY



The USD/JPY pair on the 1-hour chart is attempting to move downward, reaching a support level at 145.130 and aiming for the next support level at 144.700. However, the downward trend is not yet supported by the FXBot template, where the JPY figure is lower at 1.1 compared to the USD's 2.2. Meanwhile, the bearish bias is supported by a sell signal indicated by a red arrow.

Suggest: Sell 145.500 TP1 145.130 TP2 144.700 SL 146.050

XUL (LOCO LONDON GOLD)

The price of gold on the 1-hour chart is attempting to move upward, reaching a resistance level at 1909.70 and aiming for the next resistance level at 1916.80. Meanwhile, the bullish bias is supported by a buy signal indicated by a green arrow.

Suggest: Buy 1909.70 TP1 1913.50 TP2 1916.80 SL 1906.00

CLSK (OIL)



The daily technical analysis for oil prices on the 1-hour chart indicates an attempt to move downward, needing to break through the support level at 82.30 to target the next support level at 81.63. To shift the bias to bullish, oil prices would need to surpass the resistance level at 82.79 and aim for the next resistance level at 83.81.

Suggest: Sell 82.30 TP1 81.90 TP2 81.63 SL 82.70

That concludes the explanation of “Daily Technical Analysis: August 15, 2023 – Yields Rise, U.S. Dollar Strengthens.” Also, check out our other articles, such as guides on how to buy cryptocurrency, only on Jurnal GIC. Don’t forget to enhance your trading skills by obtaining the Ebook Scalping guide and participating in Live Trading during NFP Live Trading sessions. Be sure to download the GIC Mobile App from the Google Play Store.

Warning!!

This analysis is based on insights from fundamental and technical perspectives from trusted sources and is not intended as advice or a recommendation. Always remember that this content aims to enrich readers' information. Always conduct your own research regarding other forex information to serve as a reference for your trading.

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