Here is the daily technical analysis for July 27, 2023. The data and analysis provided in this bulletin can be broadly used for your trading. However, please note that GICTrade and data providers are not responsible for your trading results.
 
This is solely your responsibility. Before reviewing today's technical analysis, register for GIC Gebyar Hadiah to win a Mitsubishi Expander or a 4-day, 3-night vacation to Labuan Bajo.
 
Below, we provide forecasts for price movements in Forex and Commodities, complete with calculations for Pivot Points, Resistance, and Support levels.

  

EURUSD

The 1-hour technical analysis for the EUR/USD pair shows an upward movement, testing resistance at 1.11370 and heading toward the next resistance level at 1.11680. The upward trend is also indicated by the FXBot template, with the EUR value higher at 3.1 compared to the USD at 2.1. The bullish bias is further supported by a buy signal shown by a green arrow.

Suggest: Buy 1.11370 TP1 1.11680 TP2 1.12000 SL 1.11000

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

1.10515

1.11048

1.10372

1.10839

1.10546

0.00293

0.26%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

1.11680

1.11370

1.11010

1.10690

1.10330

1.10010

1.09660

 

GBPUSD


In the 1-hour period, GBP/USD is attempting to rise, testing resistance at 1.29710 and aiming for the next resistance level at 1.30470. The upward trend is also indicated by the FXBot template, with the GBP value higher at 4.5 compared to the USD at 2.1. The bullish bias is further supported by a buy signal shown by a green arrow.

Suggest: Buy 1.29710 TP1 1.30030 TP2 1.30470 SL 1.29400

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

1.29010

1.29584

1.28747

1.29399

1.29016

0.00383

0.29%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

1.30470

1.30030

1.29630

1.29190

1.28800

1.28350

1.27960

  

AUDUSD


In the 1-hour period, AUD/USD is attempting to rise, testing resistance at 0.68300 and moving toward the next resistance level at 0.68680. The upward trend is also shown in the FXBot template, with the AUD value higher at 8.4 compared to the USD at 2.5. The bullish bias is further supported by a Buy signal indicated by a green arrow.

Suggest: Sell 0.68500 TP1 0.68250 TP2 0.68050 SL 0.68800

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

0.67909

0.67924

0.67292

0.67559

0.67909

-0.00350

-0.52%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

0.68680

0.68300

0.68050

0.67670

0.67420

0.67040

0.66780

 

USDCHF


In the 1-hour period, USD/CHF is attempting to move downward, testing support at 0.85630 and potentially reaching the next support level at 0.85300. However, the downtrend is not yet visible in the FXBot template, where the CHF and USD values are both at 2.5. The bearish bias is supported by a Sell signal, indicated by a red arrow.

Suggest: Sell 0.85630 TP1 0.85300 TP2 0.85000 SL 0.85910

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

0.86359

0.86555

0.85952

0.86060

0.86377

-0.00317

-0.37%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

0.87110

0.86830

0.86510

0.86230

0.85910

0.85630

0.85300

 

 

USDJPY


In the 1-hour period, USD/JPY is attempting to move downward, testing support at 139.280 and potentially reaching the next support level at 138.650. The downtrend is also supported by the FXBot template, where the JPY value is higher at 3.1 compared to the USD at 2.5. The bearish bias is further supported by a Sell signal, indicated by a red arrow.

Suggest: Buy 139.650 TP1 139.300 TP2 139.000 SL 140.000

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

140.893

141.179

139.907

140.224

140.899

-0.675

-0.48%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

142.470

141.820

141.190

140.550

139.920

139.280

138.650

 

 

 

XUL (LOCO LONDON GOLD)

The daily technical analysis for gold prices in the 1-hour period indicates an upward movement, testing resistance at 1985.60 and aiming for the next resistance level at 1993.00. The bullish bias is also supported by a Buy signal, indicated by a green arrow.

Suggest: Sell 1987.00 TP1 1982.00 TP2 1975.00 SL 1995.00

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

1964.64

1978.12

1961.84

1972.57

1964.60

7.97

0.41%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

1993.00

1985.60

1976.80

1969.30

1960.50

1953.00

1944.20

 

CLSK (OIL)


The daily technical analysis for oil prices in the 1-hour period shows an attempt to move upward, needing to surpass the resistance level at 79.88 to reach the next resistance at 80.27. To change the bias back to bearish, oil prices must break below the support level at 79.26 and move toward the next support level at 78.38.

Suggest: Buy 79.88 TP1 80.27 TP2 80.80 SL 79.40

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

79.32

79.74

78.53

78.91

79.59

-0.68

-0.85%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

80.80

80.27

79.59

79.06

78.38

77.85

77.17

 

That concludes the explanation of “Daily Technical Analysis: July 27, 2023 – Powell’s Mixed Signals, Dollar Drops.” Be sure to check out our other articles, such as the guide on how to buy cryptocurrency, available only at Jurnal GIC. Don't forget to enhance your trading skills by getting the Ebook Scalping Guide and participating in Live Trading at NFP Live Trading. Also, make sure to download the GIC Mobile Apps from the Google Play Store.

Warning!

This analysis is based on fundamental and technical insights from trusted sources and should not be considered as trading advice or solicitation. Always remember that this content aims to enrich the reader's information. Always conduct your own independent research regarding forex information to serve as a reference for your trading.

 

Stay updated with the latest news and articles from GIC Indonesia by checking Google News daily for the most recent updates in the forex and crypto markets. Trade on GICTrade with an ECN account to enjoy trading with low spreads starting from zero!