The following is a technical daily analysis, December 16, 2022. 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 nights and 3 days. In the following, we will inform you of price movement predictions in Forex and Commodities which are equipped with calculations of Pivot Point levels, Resistance and Support. 

EURUSD

[caption id="attachment_22760" align="aligncenter" width="974"]Analisa Harian Teknikal Photo Source: Yanto via GIC[/caption] For Daily Technical Analysis The zone currency in today's trading on Friday, December 16, 2022 is trying to rebound. It needs a break of the 1.06720 area to turn EUR/USD bullish to the resistance range at 1.07240. However, if the EUR/USD pair can break through the 1.05810 support area then the euro has the potential to fall further to 1.05140.

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PREVIOUS RANGE
OPEN HIGH LOW CLOSE PREV.CLOSE CHANGE %CHANGE
1.06808 1.07355 1.05917 1.06257 1.06806 -0.00549 -0.51%
DAILY PIVOT POINT
R3 R2 R1 PIVOT S1 S2 S3
1.08680 1.08020 1.07240 1.06580 1.05810 1.05140 1.04370

GBPUSD

[caption id="attachment_22757" align="aligncenter" width="973"]Analisa Harian Teknikal Photo Source: Yanto via GIC[/caption] GBP/USD is in the oversold area, it needs to break the 1.22100 area to turn bullish to a pivot resistance level at 1.22960. Meanwhile, if the Pound Sterling is able to pass yesterday's trading low at 1.21556, then a further bearish trend has great potential until it reaches the next support in the 1.20250 area.

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PREVIOUS RANGE
OPEN HIGH LOW CLOSE PREV.CLOSE CHANGE %CHANGE
1.24235 1.24267 1.21556 1.21767 1.24268 -0.02501 -2.01%
DAILY PIVOT POINT
R3 R2 R1 PIVOT S1 S2 S3
1.27080 1.25670 1.24360 1.22960 1.21650 1.20250 1.18940

AUDUSD

[caption id="attachment_22754" align="aligncenter" width="973"]Analisa Harian Teknikal Photo Source: Yanto via GIC[/caption] The AUD/USD pair is in the oversold area on the 1-hour time frame, so the Aussie has the potential to rebound. It is necessary to break the 0.67420 area to the resistance level of 0.68780. Meanwhile, to continue the downtrend or bearish, the 0.66760 level needs to be crossed to further towards the 0.65840 support.

Weekly Market Analysis : 03 – 07 May 2021

PREVIOUS RANGE
OPEN HIGH LOW CLOSE PREV.CLOSE CHANGE %CHANGE
0.68627 0.68688 0.66760 0.67000 0.68631 -0.01631 -2.38%
DAILY PIVOT POINT
R3 R2 R1 PIVOT S1 S2 S3
0.70710 0.69700 0.68780 0.67770 0.66850 0.65840 0.64920

USDCHF

[caption id="attachment_22756" align="aligncenter" width="973"]Analisa Harian Teknikal Photo Source: Yanto via GIC[/caption] USD/CHF struggled to strengthen after being pressured by the US dollar. To change the bias to bearish, it is necessary to break the 0.92215 area to reach the 0.91710 support. However, if it breaks or passes 0.93110 then the Swiss Franc currency will rise further to the resistance level of 0.93610.

Getting to Know Break Even Points and How to Calculate Them

PREVIOUS RANGE
OPEN HIGH LOW CLOSE PREV.CLOSE CHANGE %CHANGE
0.92422 0.93163 0.92214 0.92850 0.92422 0.00428 0.47%
DAILY PIVOT POINT
R3 R2 R1 PIVOT S1 S2 S3
0.94060 0.93610 0.93110 0.92660 0.92160 0.91710 0.91210

USDJPY

[caption id="attachment_22755" align="aligncenter" width="971"]Analisa Harian Teknikal Photo Source: Yanto via GIC[/caption] In the Daily Technical Analysis of the Japanese yen currency, there is a chance to rise further referring to the MA20 indicator which crosses above the MA200. It needs to break the 138,090 area to move up to 139,600. Another scenario, if USD/JPY is able to break through the support level of 135,150, it will change its bias to bearish until the next support level at 133,730.
PREVIOUS RANGE
OPEN HIGH LOW CLOSE PREV.CLOSE CHANGE %CHANGE
135.449 138.169 135.234 137.782 135.450 2.332 1.72%
DAILY PIVOT POINT
R3 R2 R1 PIVOT S1 S2 S3
141.020 139.600 138.090 136.660 135.150 133.730 132.220

XUL (LOCO LONDON GOLD)

[caption id="attachment_22759" align="aligncenter" width="973"]Analisa Harian Teknikal Photo Source: Yanto via GIC[/caption] Gold was observed to weaken amid strong demand for the US dollar after the hawkish statement from the Fed. This is supported by daily technical analysis which shows a crossing between the MA20 and MA200 which indicates a further decline. Up to the support level at 1756.60 if the level of 1774.40 can be broken or skipped.
PREVIOUS RANGE
OPEN HIGH LOW CLOSE PREV.CLOSE CHANGE %CHANGE
1806.86 1808.44 1773.62 1776.49 1807.03 -30.54 -1.69%
DAILY PIVOT POINT
R3 R2 R1 PIVOT S1 S2 S3
1844.00 1826.20 1809.20 1791.40 1774.40 1756.60 1739.50

CLSK (OIL)

[caption id="attachment_22758" align="aligncenter" width="972"]Analisa Harian Teknikal Photo Source: Yanto via GIC[/caption] Oil is still in a bullish trend, it needs a break of the 77.55 area to rise further to the next resistance at 78.85. This increase is also supported by the MA50 indicator which crosses with the MA200 from below.
PREVIOUS RANGE
OPEN HIGH LOW CLOSE PREV.CLOSE CHANGE %CHANGE
77.35 77.74 75.33 76.24 77.44 -1.20 -1.55%
DAILY PIVOT POINT
R3 R2 R1 PIVOT S1 S2 S3
79.96 78.85 77.55 76.44 75.14 74.03 72.73

Check out the break even point analysis here!

So, that's the explanation of "Technical Daily Analysis: December 16, 2022 – US Dollar Resilient Again". 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.