Here is the daily technical analysis for January 4, 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 provide forecasts for price movements in Forex and commodities, complete with calculations for pivot points, resistance, and support levels.

EURUSD



EUR/USD in the 1-hour period is attempting to move upward, touching the resistance level at 1.09690 and heading towards the next resistance level at 1.10040. The upward trend is also evident from the template, where the potential percentage increase is higher than the percentage decrease. Meanwhile, the bullish bias is supported by a buy signal indicated by a blue arrow.

Suggest: Buy 1.09100 TP1 1.09310 TP2 1.09690 SL 1.08900

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

1.09421

1.09656

1.08931

1.09220

1.09414

-0.00194

-0.18%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

1.10410

1.10040

1.09690

1.09310

1.08960

1.08590

1.08240

 

GBPUSD



GBP/USD in the 1-hour period is attempting to move upward, touching the resistance level at 1.27070 and heading towards the next resistance level at 1.27370. The upward trend is also evident from the template, where the potential percentage increase is higher than the percentage decrease. Meanwhile, the bullish bias is supported by a buy signal indicated by a blue arrow.

Suggest: Buy 1.26500 TP1 1.26710 TP2 1.27070 SL 1.26300

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

1.26144

1.26766

1.26110

1.26639

1.26190

0.00449

0.36%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

1.27370

1.27070

1.26710

1.26410

1.26050

1.25750

1.25400

 

 

AUDUSD



AUD/USD in the 1-hour period is attempting to move upward, touching the resistance level at 0.67800 and heading towards the next resistance level at 0.68100. The upward trend is also evident from the template, where the potential percentage increase is higher than the percentage decrease. Meanwhile, the bullish bias is supported by a buy signal indicated by a blue arrow.

Suggest: Buy 0.67500 TP1 0.67800 TP2 0.68100 SL 0.67300

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

0.67609

0.67707

0.67021

0.67309

0.67608

-0.00299

-0.44%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

0.68490

0.68100

0.67800

0.67410

0.67110

0.66720

0.66430

 

USDCHF



USD/CHF in the 1-hour period is attempting to move downward, touching the support level at 0.84540 and heading towards the next support level at 0.84310. The downward trend is also evident from the template, where the potential percentage decrease is higher than the percentage increase. Meanwhile, the bearish bias is supported by a sell signal indicated by a purple arrow.

Suggest: Sell 0.85040 TP1 0.84800 TP2 0.84540 SL 0.85300

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

0.84885

0.85543

0.84814

0.84904

0.85019

-0.00115

-0.14%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

0.86000

0.85770

0.85270

0.85040

0.84540

0.84310

0.83810

 

 

USDJPY



USD/JPY in the 1-hour period is attempting to move upward, touching the resistance level at 144.650 and heading towards the next resistance level at 145.570. The upward trend is also evident from the template, where the potential percentage increase is higher than the percentage decrease. Meanwhile, the bullish bias is supported by a buy signal indicated by a blue arrow.

Suggest: Buy 143.610 TP1 144.000 TP2 144.300 SL 143.300

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

141.984

143.729

141.771

143.292

141.991

1.301

0.92%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

145.570

144.650

143.610

142.690

141.650

140.730

139.690

 

XUL (LOCO LONDON GOLD)



The price of gold in the 1-hour period is attempting to move upward, reaching the resistance level at 2049.30 and heading towards the next resistance level at 2068.00. The upward trend is also evident from the template, where the potential percentage increase is higher than the percentage decrease. Meanwhile, the bullish bias is supported by a buy signal indicated by a blue arrow.

Suggest: Sell 2055.00 TP1 2050.00 TP2 2045.00 SL 2060.00

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

2059.14

2065.93

2030.59

2041.47

2058.47

-17.00

-0.83%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

2103.40

2084.60

2068.00

2049.30

2032.70

2014.00

1997.30

 

CLSK (OIL)



The price of oil in the 1-hour period is attempting to move upward, needing to surpass the resistance level at 74.33 to reach the next resistance level at 75.70. Meanwhile, for a bearish bias, the price of oil must break below the support level at 71.80 to move towards the next support level at 70.443.

Suggest: Buy 73.00 TP1 73.50 TP2 74.00 SL 72.70

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

70.49

73.17

69.27

72.97

70.58

2.39

3.39%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

78.23

75.70

74.33

71.80

70.43

67.90

66.53


So, that’s the explanation about “Technical Daily Analysis: January 4, 2024 – ISM Manufacturing Rises, US Dollar Rallies.” Also, check out our other articles, such as how to buy cryptocurrency, only at Jurnal GIC. Don’t forget to hone your trading skills by obtaining the Scalping Ebook guide and participating in Live Trading during NFP Live Trading. Make sure to download the GIC Mobile App from the Google Play Store.