Daily Technical Analysis: July 3, 2023 – Hawkish Fed, US Dollar Fly

The following is a daily technical analysis, July 3, 2023. The data and analysis contained in this newsletter can be used on a wide scale for your trading. However, it is important to note that GICTrade and its data providers are not responsible for your trading results. So, it's your own responsibility. Before knowing today's technical analysis, immediately register yourself to take part in the GIC Gebyar Prize and get the main prize, namely Mobile Mitshubshi Expander or Vacation Package to Labuan Bajo for 4 days and 3 nights. In the following, we will inform you about the forecast of price movements in Forex and Commodities which is equipped with the calculation of Pivot points, Resistance and Support levels.

EURUSD

Daily technical analysis for the EUR/USD pair on the 1-hour period tried to move down, touching the support level at 1.08840 and heading to the next support level at 1.08370. The downward trend can also be seen from the FXBot template, where the EUR figure is lower by 3.1 than the USD figure of 8.4. While the bearish bias is also supported by a sell signal indicated by a red arrow.

Suggest: Sell 1.08840 TP1 1.08600 TP2 1.08370 SL 1.09100

GBPUSD

GBP/USD on the 1-hour period tried to move down, touching the support level at 1.26700 until heading to the next support level at 1.25890. The downward trend can also be seen from the FXBot template, where the GBP figure is lower by 3.8 than the USD figure of 8.2. While the bearish bias is also supported by a sell signal indicated by a red arrow.

Suggest: Sell 1.26700 TP1 1.26300 TP2 1.25890 SL 1.27100

AUDUSD

AUD/USD on the 1-hour period tried to move down, touching the support level at 0.66370 again to the next support level at 0.66030. The downward trend can also be seen from the FXBot template, where the AUD figure is lower by 3.0 than the USD figure of 8.2. While the bearish bias is also supported by a sell signal indicated by a red arrow.

Suggest: Sell 0.66400 TP1 0.66200 TP2 0.66000 SL 0.66700

USDCHF

Daily technical analysis for the USD/CHF pair on the 1-hour period tried to move up, touching the resistance level at 0.89800 to the next resistance level at 0.90120. The upward trend can also be seen from the FXBot template, where the CHF figure is lower by 4.8 than the USD figure of 8.4. While the bullish bias is also supported by a buy signal indicated by a green arrow.

Suggest: Buy 0.89800 TP1 0.90000 TP2 0.90120 SL 0.89600

USDJPY

USD/JPY in the 1-hour period tried to move up, touching the resistance level at 144,900 until heading to the next resistance level at 145,440. The upward trend can also be seen from the FXBot template, where the JPY figure is lower by 4.0 than the USD figure of 8.4. While the bullish bias is also supported by a buy signal indicated by a green arrow.

Suggest: Buy 144.900 TP1 145.200 TP2 145.440 SL 144.600

XUL (LOCO LONDON GOLD)

Daily technical analysis for the price of gold in the 1-hour period tried to move down, touching the support level at 1912.50 to the next support level at 1901.80. While the bearish bias is also supported by a sell signal indicated by a red arrow.

Suggest: Sell 1913.00 TP1 1908.00 TP2 1901.80 SL 1918.00

CLSK (OIL)

Oil prices in the 1-hour period are trying to move down, needing to pass the support level at 70.30 again to the next support level at 69.60. Meanwhile, for further bullish bias, oil prices need to pass the resistance level at 71.00 to reach the next support level at 71.80.

Suggest: Sell 70.30 TP1 69.90 TP2 69.60 SL 70.80