Daily Technical Analysis: June 16, 2023 – The Dollar Falls, Why? a

The following is a technical daily analysis, June 16, 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 moved further upwards, trying to touch the resistance level at 1.09610 and towards the next resistance level at 1.10310. The upward trend is not yet supported if you look at the FXBot template, where the EUR figure is slightly lower by 4.5 than the USD figure of 4.8. While the bullish bias is also supported by a buy signal indicated by a green arrow.

Suggest: Sell 1.10000 TP1 1.09610 TP2 1.09400 SL 1.10310

GBPUSD

Daily technical analysis for the GBP/USD pair on the 1-hour period tried to move upwards touching the resistance level at 1.28010 to the next resistance level at 1.28710. The uptrend is also supported by the FXBot template, where the GBP figure is higher by 6.4 than the USD figure of 4.7. While the bullish bias is also supported by a buy signal indicated by a green arrow.

Suggest: Sell 1.28300 TP1 1.28010 TP2 1.27700 SL 1.28710

AUDUSD

AUD/USD on the 1-hour period tried to move up, touching the resistance level at 0.69010 until heading to the next resistance level at 0.69600. The upward trend can also be seen from the FXBot template, where the AUD figure is higher by 7.0 than the USD figure of 4.1. While the bullish bias is also supported by a buy signal indicated by a green arrow.

Suggest: Sell 0.69300 TP1 0.69000 TP2 0.68670 SL 0.69600

USDCHF

USD/CHF on the 1-hour period moved further down, trying to touch the support level at 0.88870 until heading towards the next support level at 0.88220. The downward trend can also be seen from the FXBot template, where the CHF figure is higher by 5.1 than the USD figure of 4.4. While the bearish bias is also supported by a sell signal indicated by a red arrow.

Suggest: Buy 0.88700 TP1 0.89000 TP2 0.892500 SL 0.88400

USDJPY

USD/JPY on the 1-hour period tried to move up, touching the resistance level at 141,395 until heading to the next resistance level at 142,000. The upward trend can also be seen from the FXBot template, where the JPY figure is lower by 0.1 than the USD figure of 4.1. While the bullish bias is also supported by a buy signal indicated by a green arrow.

Suggest: Sell 141.600 TP1 141.300 TP2 141.000 SL 142.000

XUL (LOCO LONDON GOLD)

Daily technical analysis for gold prices on the 1-hour period moved further upwards, trying to touch the resistance area at 1967.30 until the next resistance level at 1981.40. While the bullish bias is also supported by a buy signal indicated by a green arrow.

Suggest: Sell 1970.00 TP1 1965.00 TP2 1960.00 SL 1978.00

CLSK (OIL)

Oil prices in the 1-hour period are trying to move up, needing to cross the resistance area at 71.05 to reach the next resistance level at 71.69. Meanwhile, to change the bias to bearish, oil prices need to pass the support level at 70.42 to reach the next support level at 69.83.

Suggest: Buy 69.83 TP1 70.40 TP2 71.00 SL 69.30