Here is the daily technical analysis for July 18, 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 the calculations of Pivot points, Resistance, and Support levels.

EURUSD



EUR/USD on the 1-hour period is below the first resistance area at 1.09460, attempting to move down to the pivot area at 1.09200 and further towards the first support at 1.08920. Meanwhile, the RSI indicator is below the pivot area, indicating that the euro has the potential to move down further.

Suggest: Sell 1.09400 TP1 1.09200 TP2 1.09000 SL 1.09600

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

1.08981

1.09482

1.08942

1.09396

1.08985

0.00411

0.38%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

1.10000

1.09740

1.09460

1.09200

1.08920

1.08660

1.08380


XAUUSD



Gold prices on the 1-hour period are above the pivot area at 2465.40, attempting to move up towards the first resistance area at 2479.30 and further towards the second resistance area at 2497.50. Meanwhile, the RSI indicator is above the pivot area, indicating that gold prices have the potential to move up further.

Suggest: Buy 2465.00 TP1 2470.00 TP2 2480.00 SL 2460.00

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

2468.63

2483.66

2451.55

2457.62

2467.63

-10.01

-0.41%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

2511.40

2497.50

2479.30

2465.40

2447.10

2433.30

2415.00


CLSK (OIL)



Oil prices on the 1-hour period are above the pivot area at 82.10, with the potential to move up towards the first resistance area at 83.75 and further to the second resistance area at 84.59. Meanwhile, the RSI indicator is above the pivot area or in the overbought zone, indicating that oil prices have the potential for a correction.

Suggest: Sell 83.75 TP1 83.25 TP2 82.75 SL 84.25

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

80.85

82.94

80.45

82.91

80.85

2.06

2.55%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

86.24

84.59

83.75

82.10

81.26

79.61

78.77

 


Well, that concludes the explanation of "Daily Technical Analysis: July 18, 2024 – Dollar Attempts to Rebound." Also, check out our other articles, such as the explanation on how to buy cryptocurrency, only at Jurnal GIC. Don't forget to hone your trading skills by getting the Ebook Scalping guide. Make sure to download the GIC Mobile Apps on the Google Play Store.