Below is the daily technical analysis for August 15, 2024. The data and analysis in this bulletin can be widely used for your trading. However, it is important to note that GICTrade and the data providers are not responsible for your trading results.

We will now provide information on the forecast for price movements in Forex and Commodity, complete with calculations for Pivot points, Resistance, and Support levels.

EURUSD



EUR/USD on the 1-hour timeframe is below the first resistance area at 1.10320, attempting to move down toward the pivot area at 1.00070 and then towards the first support at 1.09670. Meanwhile, the RSI indicator is above the pivot area, indicating that the euro has the potential to move up first before declining.

Suggest: Sell 1.10300 TP1 1.10100 TP2 1.09900 SL 1.10500

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

1.09851

1.10474

1.09822

1.10123

1.09927

0.00196

0.18%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

1.10970

1.10720

1.10320

1.10070

1.09670

1.09420

1.09010


XAUUSD



Gold prices on the 1-hour timeframe are above the first support area at 2436.00, attempting to move up toward the pivot area at 2458.00 and then toward the first resistance area at 2477.90. Meanwhile, the RSI indicator is above the pivot area, indicating that gold prices have the potential to move up further.

Suggest: Buy 2445.00 TP1 2450.00 TP2 2460.00 SL 2440.00

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

2465.96

2479.99

2438.10

2447.91

2466.47

-18.56

-0.75%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

2519.80

2499.90

2477.90

2458.00

2436.00

2416.10

2394.10


CLSK (OIL)



Oil prices on the 1-hour timeframe are below the pivot area at 77.68, with the potential to move down toward the first support area at 76.28 and then to the second support area at 75.41. Meanwhile, the RSI indicator is below the pivot area, indicating that oil prices have the potential to move down first before rebounding.

Suggest: Buy 77.00 TP1 77.50 TP2 78.00 SL 76.50

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

78.70

79.08

76.81

77.15

78.43

-1.28

-1.63%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

80.82

79.95

78.55

77.68

76.28

75.41

74.01


That concludes the explanation of "Daily Technical Analysis: August 15, 2024 – Retail Sales Down, Dollar Plummets." Also, check out our other articles, such as the explanation of how to buy cryptocurrency, only on the GIC Journal. Don’t forget to sharpen your trading skills by getting the Scalping Guide Ebook. Make sure to download the GIC Mobile App on Google Play Store.