Last: 
Here is the daily technical analysis for July 24, 2024. The data and analysis contained in this bulletin can be widely applied to your trading. However, it is important to note that GICTrade and the data providers are not responsible for the results of your trading.
Below, we will provide a forecast of price movements in Forex and Commodities, along with calculations for Pivot Point levels, Resistance, and Support.
EURUSD
EUR/USD on the 2-hour period is below the first support area at 1.08450, attempting to move down to the second support area at 1.08180 and possibly reaching the third support area at 1.07920. Meanwhile, the RSI indicator is below the pivot area or in oversold territory, suggesting that the euro may decline further before potentially rebounding.
Suggest: Sell 1.08450 TP1 1.08250 TP2 1.08000 SL 1.08650
EURUSD
EUR/USD on the 2-hour period is below the first support area at 1.08450, attempting to move down to the second support area at 1.08180 and possibly reaching the third support area at 1.07920. Meanwhile, the RSI indicator is below the pivot area or in oversold territory, suggesting that the euro may decline further before potentially rebounding.
Suggest: Sell 1.08450 TP1 1.08250 TP2 1.08000 SL 1.08650
|
PREVIOUS RANGE |
||||||
|
OPEN |
HIGH |
LOW |
CLOSE |
PREV.CLOSE |
CHANGE |
%CHANGE |
|
1.08903 |
1.08968 |
1.08440 |
1.08530 |
1.08905 |
-0.00375 |
-0.34% |
|
DAILY PIVOT POINT |
||||||
|
R3 |
R2 |
R1 |
PIVOT |
S1 |
S2 |
S3 |
|
1.09510 |
1.09240 |
1.08980 |
1.08710 |
1.08450 |
1.08180 |
1.07920 |
XAUUSD
Gold prices on the 1-hour period are above the first resistance area at 2413.70, attempting to move up towards the second resistance area at 2424.80 and potentially reaching the third resistance area at 2437.50. Meanwhile, the RSI indicator is above the pivot area, indicating that gold prices may have further potential to rise.
Suggest: Buy 2408.00 TP1 2413.00 TP2 2423.00 SL 2403.00
|
PREVIOUS RANGE |
||||||
|
OPEN |
HIGH |
LOW |
CLOSE |
PREV.CLOSE |
CHANGE |
%CHANGE |
|
2396.91 |
2412.03 |
2388.27 |
2406.77 |
2398.81 |
7.96 |
0.33% |
|
DAILY PIVOT POINT |
||||||
|
R3 |
R2 |
R1 |
PIVOT |
S1 |
S2 |
S3 |
|
2437.50 |
2424.80 |
2413.70 |
2401.00 |
2390.00 |
2377.20 |
2366.20 |
CLSK (OIL)
Oil prices on the 1-hour period are at the pivot area at 77.46, with the potential to move up to the first resistance area at 78.54 and possibly reaching the second resistance area at 79.78. Meanwhile, the RSI indicator is at the pivot area, suggesting that oil prices may have the potential to rise or rebound.
Suggest: Buy 77.00 TP1 77.50 TP2 78.00 SL 76.50
|
PREVIOUS RANGE |
||||||
|
OPEN |
HIGH |
LOW |
CLOSE |
PREV.CLOSE |
CHANGE |
%CHANGE |
|
78.23 |
78.70 |
76.38 |
77.29 |
78.37 |
-1.08 |
-1.38% |
|
DAILY PIVOT POINT |
||||||
|
R3 |
R2 |
R1 |
PIVOT |
S1 |
S2 |
S3 |
|
80.86 |
79.78 |
78.54 |
77.46 |
76.22 |
75.14 |
73.90 |
That was the explanation of the "Daily Technical Analysis: July 24, 2024 – Gold Prices Rise Further." Be sure to check out our other articles, such as the guide on how to buy cryptocurrency, only in the GIC Journal. Don't forget to enhance your trading skills by getting the Scalping Ebook guide. Make sure to download the GIC Mobile App from the Google Play Store.
