The following is the daily technical analysis for September 5, 2024. The data and analysis in this bulletin can be broadly applied to your trading activities. However, it is important to note that GICTrade and the data providers are not responsible for the results of your trading.

We will also provide forecasts of price movements in Forex and Commodities, along with calculations of Pivot Point levels, Resistance, and Support.

USDCHF



The USD/CHF on the 1-hour timeframe is below the first support area at 0.86570, attempting to move down to the second support area at 0.86230 and potentially reaching the third support area at 0.85880. Meanwhile, the RSI indicator is below the pivot area, suggesting that the Swiss franc may have the potential to decline further.

Suggest: Sell 0.86570 TP1 0.86300 TP2 0.86100 SL 0.86770

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

0.87240

0.87271

0.86579

0.86589

0.87240

-0.00651

-0.75%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

0.87950

0.87610

0.87260

0.86920

0.86570

0.86230

0.85880

 


XAUUSD



Gold prices on the 1-hour timeframe are above the pivot area at 2480.80, attempting to rise towards the first resistance area at 2510.80 and potentially reaching the second resistance area at 2539.70. Meanwhile, the RSI indicator is above the pivot area, indicating that gold prices have the potential to move higher further.

Suggest: Buy 2481.00 TP1 2510.00 TP2 2520.00 SL 2471.00

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

2455.82

2509.69

2450.76

2506.85

2456.16

50.69

2.06%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

2569.80

2539.70

2510.80

2480.80

2451.90

2421.90

2393.00

 


CLSK (OIL)


Oil prices on the 1-hour timeframe are below the pivot area at 75.68, with the potential to move down to the first support area at 74.41 and potentially reach the second support area at 73.24. Meanwhile, the RSI indicator is below the pivot area, suggesting that oil prices may have the potential to decline further.

Suggest: Sell 75.50 TP1 75.00 TP2 74.50 SL 76.00

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

76.86

76.95

74.51

75.57

77.98

-2.41

-3.09%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

79.29

78.12

76.85

75.68

74.41

73.24

71.97

 


So, that concludes the explanation of the "Daily Technical Analysis: August 19, 2024 – Gold Prices Heading for a New Record." Be sure to read our other articles, such as the guide on how to buy cryptocurrency, exclusively on Jurnal GIC. Don’t forget to sharpen your trading skills by obtaining the Ebook Scalping guidebook. Make sure to download the GIC Mobile App on the Google Play Store.