Here is the daily technical analysis for December 6, 2023. The data and analysis in this bulletin can be broadly used for your trading. However, it is important to note that GICTrade and the data providers are not responsible for the outcomes of your trades.

We will provide a forecast of price movements in Forex and Commodities, complete with Pivot point, Resistance, and Support level calculations.


EURUSD



The EUR/USD pair on the 1-hour timeframe is attempting to move downward, touching the support level at 1.07460 and heading toward the next support level at 1.07130. The downward trend is also visible from the template, indicating that the potential percentage decrease is greater than the percentage increase. Meanwhile, the bearish bias is supported by the sell signal indicated by the purple arrow.

Suggest: Sell 1.07820 TP1 1.07460 TP2 1.07130 SL 1.08150

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

1.08354

1.08476

1.07781

1.07977

1.08362

-0.00385

-0.36%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

1.09210

1.08850

1.08520

1.08150

1.07820

1.07460

1.07130

  

GBPUSD



The GBP/USD pair on the 1-hour timeframe is attempting to move downward, touching the support level at 1.25740 and heading toward the next support level at 1.27390. The downward trend is also visible from the template, indicating that the potential percentage decrease is greater than the percentage increase. Meanwhile, the bearish bias is supported by the sell signal indicated by the purple arrow.

Suggest: Sell 1.26130 TP1 1.25740 TP2 1.25390 SL 1.26490

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

1.26286

1.26518

1.25775

1.25951

1.26320

-0.00369

-0.29%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

1.27230

1.26870

1.26490

1.26130

1.25740

1.25390

1.25000

 

AUDUSD



The AUD/USD pair on the 1-hour timeframe is attempting to move downward, touching the support level at 0.65460 and heading toward the next support level at 0.65060. The trend is currently upward, as indicated by the template, showing that the potential percentage increase is greater than the percentage decrease. However, the bearish bias is supported by the sell signal indicated by the purple arrow.

Suggest: Sell 0.65840 TP1 0.65460 TP2 0.65060 SL 0.66240

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

0.66194

0.66218

0.65442

0.65524

0.66199

-0.00675

-1.02%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

0.67010

0.66620

0.66240

0.65840

0.65460

0.65060

0.64690

 

USDCHF



The USD/CHF pair on the 1-hour timeframe is attempting to move downward, touching the support level at 0.87380 and heading toward the next support level at 0.87100. The trend is currently upward, as indicated by the template, showing that the potential percentage increase is greater than the percentage decrease. However, the bearish bias is supported by the sell signal indicated by the purple arrow.

Suggest: Sell 0.87620 TP1 0.87380 TP2 0.87100 SL 0.87900

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

0.87241

0.87663

0.87143

0.87491

0.87272

0.00219

0.25%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

0.88140

0.87900

0.87620

0.87380

0.87100

0.86860

0.86580

 

USDJPY



The USD/JPY pair on the 1-hour timeframe is attempting to move downward, touching the support level at 147.070 and heading toward the next support level at 146.750. The downward trend is also visible from the template, indicating that the potential percentage decrease is greater than the percentage increase. Meanwhile, the bearish bias is supported by the sell signal indicated by the purple arrow.

Suggest: Sell 147.590 TP1 147.070 TP2 146.750 SL 147.900

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

147.190

147.386

146.555

147.152

147.217

-0.065

-0.04%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

148.420

147.900

147.590

147.070

146.750

146.240

145.920

 

XUL (LOCO LONDON GOLD)



The gold price on the 1-hour timeframe is attempting to move upward, touching the resistance level at 2040.30 and heading toward the next resistance level at 2056.40. The upward trend is also visible from the template, indicating that the potential percentage increase is greater than the percentage decrease. Meanwhile, the bullish bias is supported by the buy signal indicated by the blue arrow.

Suggest: Buy 2025.10 TP1 2030.00 TP2 2035.00 SL 2020.00

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

2029.95

2041.23

2009.91

2019.39

2029.85

-10.46

-0.52%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

2071.60

2056.40

2040.30

2025.10

2009.00

1993.80

1977.70

 

CLSK (OIL)


 

The oil price on the 1-hour timeframe is attempting to move downward, needing to break through the support level at 71.69 and heading toward the next support level at 70.96. Meanwhile, for a bullish bias, the oil price needs to surpass the resistance level at 72.89 to reach the next resistance level at 73.62.

Suggest: Buy 71.69 TP1 72.00 TP2 72.50 SL 71.30

 

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

73.30

74.09

72.16

72.43

73.25

-0.82

-1.12%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

75.55

74.82

73.62

72.89

71.69

70.96

69.76


Well, that concludes the explanation of “Daily Technical Analysis: December 6, 2023 – Labor Sector Slows, Greenback Consolidates.” Also, check out our other articles, such as guides on how to buy cryptocurrency, available only at GIC Journal. Don't forget to enhance your trading skills by obtaining the Ebook Scalping guide and participating in Live Trading during NFP Live Trading. Be sure to download the GIC Mobile App from the Google Play Store.