Daily Technical Analysis: July 28, 2023 – U.S. Economy Rises, Dollar Up

Here is the daily technical analysis for July 28, 2023. The data and analysis in this bulletin can be widely used for your trading. However, it is important to note that GICTrade and the data providers are not responsible for your trading results.

Therefore, the responsibility lies with you. Before reviewing today’s technical analysis, be sure to register for the GIC Grand Prize event and have a chance to win the grand prize of a Mitsubishi Expander or a vacation package to Labuan Bajo for 4 days and 3 nights.

We will now provide forecasts for price movements in Forex and Commodities, complete with calculations for Pivot points, Resistance, and Support levels.


EURUSD



The daily technical analysis for the EUR/USD pair indicates that, in the 1-hour period, it is attempting to move upward, reaching the resistance level at 1.09850 before heading towards the next resistance level at 1.10430. The upward trend is also evident from the FXBot template, where the EUR figure is higher at 7.2 compared to the USD figure of 4.7. Additionally, the bullish bias is supported by a buy signal indicated by the green arrow.

Suggest: Buy 1.09850 TP1 1.10200 TP2 1.10430 SL 1.09500

GBPUSD

The GBP/USD pair is attempting to move upward in the 1-hour period, reaching the resistance level at 1.28100 before moving towards the next resistance level at 1.28770. The upward trend is also evident from the FXBot template, where the GBP figure is higher at 6.4 compared to the USD figure of 3.7. However, the bias remains bearish, supported by a sell signal indicated by the red arrow.

Suggest: Buy 1.28100 TP1 1.28500 TP2 1.28770 SL 1.27800

AUDUSD



The daily technical analysis for the AUD/USD pair indicates that, in the 1-hour period, it is attempting to move downward, reaching the support level at 0.66400 before heading towards the next support level at 0.66210. The downward trend is also evident from the FXBot template, where the AUD figure is lower at 1.2 compared to the USD figure of 4.4. Meanwhile, the bearish bias is supported by a sell signal indicated by the red arrow.

Suggest: Sell 0.66400 TP1 0.66200 TP2 0.66000 SL 0.66690

USDCHF

The USD/CHF pair is attempting to move downward in the 1-hour period, reaching the support level at 0.86720 before moving towards the next support level at 0.86360. The downward trend is also evident from the FXBot template, where the CHF figure is lower at 3.6 compared to the USD figure of 4.2. Meanwhile, the bearish bias is supported by a sell signal indicated by the red arrow.

Suggest: Sell 0.86720 TP1 0.86500 TP2 0.86360 SL 0.87000

USDJPY

The USD/JPY pair is attempting to move upward in the 1-hour period, reaching the resistance level at 139.930 before heading towards the next resistance level at 141.110. The upward trend is also supported by the FXBot template, where the JPY figure is lower at 4.1 compared to the USD figure of 4.5. However, the bias remains bearish, supported by a sell signal indicated by the red arrow.

Suggest: Sell 139.000 TP1 138.560 TP2 138.000 SL 139.500

XUL (LOCO LONDON GOLD)

The price of gold is attempting to move upward in the 1-hour period, reaching the resistance level at 1960.00 before heading towards the next resistance level at 1977.00. Additionally, the bullish bias is supported by a buy signal indicated by the green arrow.

Suggest: Sell 1960.00 TP1 1955.00 TP2 1945.00 SL 1965.00

CLSK (OIL)

The daily technical analysis for oil prices in the 1-hour period indicates an attempt to move upward, needing to break through the resistance level at 80.56 before heading towards the next resistance level at 81.48. To reverse the bias back to bearish, oil prices would need to break through the support level at 79.51 before moving towards the next support level at 78.92.

Suggest: Buy 80.56 TP1 81.00 TP2 81.48 SL 80.00

Well, that concludes the explanation of "Daily Technical Analysis: July 28, 2023 – U.S. Economy Grows Faster, Dollar Soars." Be sure to read our other articles, such as the guide on how to buy cryptocurrency, exclusively at Jurnal GIC. Don't forget to enhance your trading skills by obtaining the Ebook Scalping guide and participating in Live Trading at NFP Live Trading. Make sure to download the GIC Mobile App from the Google Play Store.

Warning!

This analysis is based on insights from fundamental and technical perspectives from reliable sources and does not constitute advice or an invitation. Always remember that this content aims to enrich readers' information. Always conduct independent research regarding other forex information to serve as a reference for your trading.

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