Here is the daily technical analysis for July 11, 2024. The data and analysis in this bulletin can be widely used for your trading. However, it should be noted that GICTrade and the data provider are not responsible for the results of your trading.

We will now provide the forecasted price movements in Forex and Commodities, along with calculations of Pivot points, Resistance, and Support levels.

GBPUSD



GBP/USD on the 1-hour period is below the second resistance area at 1.28840, attempting to move down to the first resistance area at 1.28490 and further towards the pivot area at 1.28140. Meanwhile, the RSI indicator is above the pivot area or in the overbought zone, indicating that the pound sterling has the potential to correct downward.

Suggest: Sell 1.28600 TP1 1.28400 TP2 1.28140 SL 1.28800

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

1.27788

1.28488

1.27788

1.28480

1.27864

0.00616

0.48%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

1.29190

1.28840

1.28490

1.28140

1.27790

1.27440

1.27090


XAUUSD



Gold prices on the 1-hour period are above the pivot area at 2371.30, attempting to move up towards the first resistance area at 2379.60 and further to the second resistance area at 2394.90. Meanwhile, the RSI indicator is above the pivot area, indicating that gold prices have the potential to move up further.

Suggest: Buy 2374.50.50 TP1 2379.50 TP2 2389.50 SL 2369.50

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

2364.06

2386.65

2363.01

2371.63

2364.16

7.47

0.32%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

2403.20

2394.90

2379.60

2371.30

2356.00

2347.70

2332.30


CLSK (OIL)



Oil prices on the 1-hour period are above the pivot area at 81.94, with the potential to move up to the first resistance area at 83.09 and further to the second resistance area at 83.78. Meanwhile, the RSI indicator is above the pivot area, indicating that oil prices have the potential to move up further.

Suggest: Buy 82.30 TP1 82.80 TP2 83.30 SL 81.80

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

81.77

82.63

80.79

82.39

81.62

0.77

0.94%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

84.93

83.78

83.09

81.94

81.25

80.10

79.41


Well, that concludes the explanation of "Daily Technical Analysis: July 11, 2024 – The Fate of the Dollar Ahead of CPI." Also, check out our other articles, such as the guide on how to buy cryptocurrency, only at Jurnal GIC. Don't forget to enhance your trading skills by getting the Ebook Scalping guide. Make sure to download the GIC Mobile Apps from the Google Play Store.