Here is the daily technical analysis for July 19, 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.


GBPUSD



GBP/USD on the 1-hour period is below the first support area at 1.29370, attempting to move down to the second support area at 1.29020 and further to the third support area at 1.28640. Meanwhile, the RSI indicator is below the pivot area or in the oversold zone, indicating that the pound sterling has the potential to rebound.

Suggest: Buy 1.29050 TP1 1.29250 TP2 1.29450 SL 1.28850

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

1.30033

1.30130

1.29404

1.29430

1.30081

-0.00651

-0.50%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

1.30820

1.30480

1.30100

1.29750

1.29370

1.29020

1.28640

XAUUSD



Gold prices on the 1-hour period are below the first support area at 2420.10, attempting to move down towards the third support area at 2399.90 and further towards the next support at 2380.00. Meanwhile, the RSI indicator is below the pivot area or in the oversold zone, indicating that gold prices have the potential to rebound.

Suggest: Buy 2400.00 TP1 2410.00 TP2 2420.00 SL 2390.00

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

2459.10

2474.91

2440.35

2444.57

2457.62

-13.05

-0.53%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

2503.60

2489.30

2469.10

2454.70

2434.50

2420.10

2399.90

CLSK (OIL)



Oil prices on the 1-hour period are below the second support area at 81.68, with the potential to move down to the third support area at 79.90 and further towards the next support at 79.68. Meanwhile, the RSI indicator is below the pivot area or in the oversold zone, indicating that oil prices have the potential to rebound.

Suggest: Buy 80.25 TP1 80.75 TP2 81.25 SL 79.75

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

83.11

83.80

82.02

82.40

82.91

-0.51

-0.62%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

85.24

84.52

83.46

82.74

81.68

80.96

79.90

 


Well, that concludes the explanation of "Daily Technical Analysis: July 19, 2024 – Gold Prices Sharply Corrected." Also, check out our other articles, such as the guide on how to buy cryptocurrency, only at Jurnal GIC. Don’t forget to sharpen your trading skills by getting the Ebook Scalping guide. Make sure to download the GIC Mobile Apps from the Google Play Store.