Here is the daily technical analysis for June 12, 2024. The data and analysis in this bulletin can be widely used for your trading. However, please note that GICTrade and the data provider are not responsible for your trading results.
 
Below, we provide a forecast of price movements in Forex and Commodities, complete with calculations for Pivot Points, Resistance, and Support levels.

EURUSD

EUR/USD on the 1-hour period is above the first support area at 1.07240, attempting to move up to the pivot area at 1.07490 and heading towards the first resistance at 1.07780. Meanwhile, the RSI indicator is above the pivot area, indicating that the euro may potentially move further up.
Suggest: Buy 1.07300 TP1 1.07500 TP2 1.07780 SL 1.07100

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

1.07638

1.07736

1.07197

1.07404

1.07656

-0.00252

-0.23%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

1.08320

1.08030

1.07780

1.07490

1.07240

1.06950

1.06710


XAUUSD (LOCO LONDON GOLD)



The gold price on the 1-hour period is above the pivot area at 2311.50, attempting to move up towards the first resistance area at 2325.30 and then to the second resistance area at 2333.70. Meanwhile, the RSI indicator is above the pivot area, indicating that the gold price may potentially move further up.
 
Suggest: Buy 2311.00 TP1 2320.00 TP2 2330.00 SL 2303.00

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

2312.39

2319.94

2297.74

2316.08

2309.85

6.23

0.27%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

2347.50

2333.70

2325.30

2311.50

2303.10

2289.30

2280.90


CLSK (OIL)


The oil price on the 4-hour period is above the first resistance area at 78.36, with the potential to move up to the second resistance area at 78.90 and then to the third resistance area at 79.47. Meanwhile, the RSI indicator is above the pivot area, suggesting that the oil price may potentially move further up.
Suggest: Buy 78.30 TP1 78.80 TP2 79.50 SL 77.80

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

78.11

78.33

77.22

77.82

77.89

-0.07

-0.09%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

79.47

78.90

78.36

77.79

77.25

76.68

76.14

 
 
That’s the explanation about “Daily Technical Analysis: June 12, 2024 – Dollar's Fate Ahead of FOMC?” Also, read our other articles, such as an explanation of how to buy cryptocurrency, only on Jurnal GIC. Don't forget to enhance your trading skills by getting the Ebook Scalping guidebook. Make sure to download the GIC Mobile Apps on Google Play Store.