Last: 
Here is the daily technical analysis for February 27, 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 forecasts for price movements in Forex and Commodity, along with calculations of Pivot points, Resistance, and Support levels.
EURUSD.webp)
EUR/USD on the 4-hour period is above the pivot area of 1.08390, attempting to rise to the first resistance area at 1.08650 and then toward the second resistance at 1.08860. Meanwhile, the RSI indicator is above the pivot area, indicating that the euro has the potential to move higher.
Suggest: Buy 1.08390 TP1 1.08650 TP2 1.08860 SL 1.08180
|
PREVIOUS RANGE |
||||||
|
OPEN |
HIGH |
LOW |
CLOSE |
PREV.CLOSE |
CHANGE |
%CHANGE |
|
1.08310 |
1.08598 |
1.08127 |
1.08513 |
1.08231 |
0.00282 |
0.26% |
|
DAILY PIVOT POINT |
||||||
|
R3 |
R2 |
R1 |
PIVOT |
S1 |
S2 |
S3 |
|
1.09120 |
1.08860 |
1.08650 |
1.08390 |
1.08180 |
1.07920 |
1.07710 |
GBPUSD.webp)
GBP/USD on the 4-hour period is above the pivot area of 1.26790, attempting to rise to the first resistance area at 1.27010 and then toward the second resistance at 1.27220. Meanwhile, the RSI indicator is above the pivot area, indicating that the pound sterling has the potential to move higher.
Suggest: Buy 1.26790 TP1 1.27010 TP2 1.27220 SL 1.26580
|
PREVIOUS RANGE |
||||||
|
OPEN |
HIGH |
LOW |
CLOSE |
PREV.CLOSE |
CHANGE |
%CHANGE |
|
1.26728 |
1.26997 |
1.26568 |
1.26855 |
1.26705 |
0.00150 |
0.12% |
|
DAILY PIVOT POINT |
||||||
|
R3 |
R2 |
R1 |
PIVOT |
S1 |
S2 |
S3 |
|
1.27440 |
1.27220 |
1.27010 |
1.26790 |
1.26580 |
1.26360 |
1.26150 |
AUDUSD
.webp)
AUD/USD on the 4-hour period is above the first support area of 0.65310, attempting to rise to the pivot area at 0.65490 and then toward the first resistance at 0.65670. Meanwhile, the RSI indicator is below the pivot area, indicating that the Aussie currency has the potential to move down first before rebounding.
Suggest: Buy 0.65310 TP1 0.65490 TP2 0.65670 SL 0.65130
|
PREVIOUS RANGE |
||||||
|
OPEN |
HIGH |
LOW |
CLOSE |
PREV.CLOSE |
CHANGE |
%CHANGE |
|
0.65566 |
0.65670 |
0.65310 |
0.65398 |
0.65638 |
-0.00240 |
-0.37% |
|
DAILY PIVOT POINT |
||||||
|
R3 |
R2 |
R1 |
PIVOT |
S1 |
S2 |
S3 |
|
0.66030 |
0.65850 |
0.65670 |
0.65490 |
0.65310 |
0.65130 |
0.64950 |
USDCHF.webp)
USD/CHF on the 4-hour period is below the pivot area of 0.88010, attempting to decline to the first support area at 0.87800 and then toward the second support at 0.87670. Meanwhile, the RSI indicator is below the pivot area, indicating that the Swiss franc has the potential to move lower.
Suggest: Sell 0.88010 TP1 0.87800 TP2 0.87670 SL 0.88200
|
PREVIOUS RANGE |
||||||
|
OPEN |
HIGH |
LOW |
CLOSE |
PREV.CLOSE |
CHANGE |
%CHANGE |
|
0.87932 |
0.88222 |
0.87882 |
0.87999 |
0.88114 |
-0.00115 |
-0.13% |
|
DAILY PIVOT POINT |
||||||
|
R3 |
R2 |
R1 |
PIVOT |
S1 |
S2 |
S3 |
|
0.88480 |
0.88350 |
0.88140 |
0.88010 |
0.87800 |
0.87670 |
0.87460 |
USDJPY.webp)
USD/JPY on the 4-hour period is below the pivot area of 150.570, attempting to decline to the first support area at 150.300 and then toward the second support at 149.980. Meanwhile, the RSI indicator is above the pivot area, indicating that the yen has the potential to move higher first before dropping.
Suggest: Sell 150.570 TP1 150.300 TP2 149.980 SL 150.890
|
PREVIOUS RANGE |
||||||
|
OPEN |
HIGH |
LOW |
CLOSE |
PREV.CLOSE |
CHANGE |
%CHANGE |
|
150.490 |
150.840 |
150.252 |
150.708 |
150.484 |
0.224 |
0.15% |
|
DAILY PIVOT POINT |
||||||
|
R3 |
R2 |
R1 |
PIVOT |
S1 |
S2 |
S3 |
|
151.480 |
151.160 |
150.890 |
150.570 |
150.300 |
149.980 |
149.710 |
XUL (LOCO LONDON GOLD)
.webp)
Gold prices on the 4-hour period are above the pivot area of 2031.70, attempting to move higher toward the first resistance area at 2038.30 and then toward the second resistance at 2043.60. Meanwhile, the RSI indicator is above the pivot area, indicating that gold prices have the potential to rise before a correction.
Suggest: Sell 2038.30 TP1 2031.70 TP2 2026.40 SL 2043.60
|
PREVIOUS RANGE |
||||||
|
OPEN |
HIGH |
LOW |
CLOSE |
PREV.CLOSE |
CHANGE |
%CHANGE |
|
2033.28 |
2037.03 |
2025.09 |
2031.59 |
2035.34 |
-3.75 |
-0.18% |
|
DAILY PIVOT POINT |
||||||
|
R3 |
R2 |
R1 |
PIVOT |
S1 |
S2 |
S3 |
|
2050.30 |
2043.60 |
2038.30 |
2031.70 |
2026.40 |
2019.80 |
2014.40 |
CLSK (OIL)
.webp)
Oil prices on the 4-hour period are above the pivot area of 77.13, with the potential to rise to the first resistance area at 78.43 and then to the second resistance at 79.30. Meanwhile, the RSI indicator is above the pivot area, indicating that oil prices have the potential to move higher.
Suggest: Buy 77.13 TP1 77.65 TP2 78.43 SL 76.665
|
PREVIOUS RANGE |
||||||
|
OPEN |
HIGH |
LOW |
CLOSE |
PREV.CLOSE |
CHANGE |
%CHANGE |
|
76.39 |
78.00 |
75.83 |
77.56 |
76.54 |
1.02 |
1.33% |
|
DAILY PIVOT POINT |
||||||
|
R3 |
R2 |
R1 |
PIVOT |
S1 |
S2 |
S3 |
|
80.60 |
79.30 |
78.43 |
77.13 |
76.26 |
74.96 |
74.09 |
Well, that concludes the explanation of “Daily Technical Analysis: February 27, 2024 – US Dollar Sideways.” Also, check out our other articles, such as the guide on how to buy cryptocurrency, only on the GIC Journal. Don’t forget to hone your trading skills by getting the Scalping Ebook guide and participating in Live Trading during NFP Live Trading. Be sure to download the GIC Mobile Apps on the Google Play Store.
