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Here is the daily technical analysis for June 18, 2024. The data and analysis in this bulletin can be widely used for your trading activities. However, it should be noted that GICTrade and the data providers are not responsible for the results of your trading.
We will provide you with the forecast of price movements in Forex and Commodities, complete with the calculation of Pivot points, Resistance, and Support levels.
GBPUSD
GBP/USD on the 1-hour period is above the pivot area at 1.26890, attempting to move up to the first resistance area at 1.27190 and potentially reaching the second resistance area at 1.27400. Meanwhile, the RSI indicator is above the pivot area, suggesting that the Pound Sterling has the potential to rise further.
Suggest: Buy 1.26900 TP1 1.27190 TP2 1.27400 SL 1.26680
XAUUSD
Gold prices on the 1-hour period are below the pivot area at 2323.50, attempting to move down towards the first support area at 2314.20 and potentially reaching the second support area at 2300.70. Meanwhile, the RSI indicator is below the pivot area, indicating that gold prices have the potential to decline further.
Suggest: Sell 2322.00 TP1 2317.00 TP2 2312.00 SL 2327.00
CLSK (OIL)
Oil prices on the 1-hour period are below the first resistance area at 81.35, with the potential to move down to the pivot area at 79.66 and further towards the first support area at 78.73. Meanwhile, the RSI indicator is above the pivot area, suggesting that oil prices may rise first before declining.
Suggest: Sell 80.25 TP1 79.75 TP2 79.25 SL 80.75
That's the explanation of “Daily Technical Analysis: June 18, 2024 – Gold Approaching Support Level.” Also, be sure to check out our other articles, such as the guide on how to buy cryptocurrency, only on GIC Journal. Don't forget to enhance your trading skills by getting the Scalping Ebook guide. Make sure to download the GIC Mobile App on the Google Play Store.
GBPUSD
GBP/USD on the 1-hour period is above the pivot area at 1.26890, attempting to move up to the first resistance area at 1.27190 and potentially reaching the second resistance area at 1.27400. Meanwhile, the RSI indicator is above the pivot area, suggesting that the Pound Sterling has the potential to rise further.
Suggest: Buy 1.26900 TP1 1.27190 TP2 1.27400 SL 1.26680
|
PREVIOUS RANGE |
||||||
|
OPEN |
HIGH |
LOW |
CLOSE |
PREV.CLOSE |
CHANGE |
%CHANGE |
|
1.26826 |
1.27098 |
1.26591 |
1.27042 |
1.26863 |
0.00179 |
0.14% |
|
DAILY PIVOT POINT |
||||||
|
R3 |
R2 |
R1 |
PIVOT |
S1 |
S2 |
S3 |
|
1.27700 |
1.27400 |
1.27190 |
1.26890 |
1.26680 |
1.26380 |
1.26180 |
XAUUSD
Gold prices on the 1-hour period are below the pivot area at 2323.50, attempting to move down towards the first support area at 2314.20 and potentially reaching the second support area at 2300.70. Meanwhile, the RSI indicator is below the pivot area, indicating that gold prices have the potential to decline further.
Suggest: Sell 2322.00 TP1 2317.00 TP2 2312.00 SL 2327.00
|
PREVIOUS RANGE |
||||||
|
OPEN |
HIGH |
LOW |
CLOSE |
PREV.CLOSE |
CHANGE |
%CHANGE |
|
2332.04 |
2332.84 |
2310.02 |
2319.13 |
2331.76 |
-12.63 |
-0.54% |
|
DAILY PIVOT POINT |
||||||
|
R3 |
R2 |
R1 |
PIVOT |
S1 |
S2 |
S3 |
|
2359.80 |
2346.30 |
2337.00 |
2323.50 |
2314.20 |
2300.70 |
2291.30 |
CLSK (OIL)
Oil prices on the 1-hour period are below the first resistance area at 81.35, with the potential to move down to the pivot area at 79.66 and further towards the first support area at 78.73. Meanwhile, the RSI indicator is above the pivot area, suggesting that oil prices may rise first before declining.
Suggest: Sell 80.25 TP1 79.75 TP2 79.25 SL 80.75
|
PREVIOUS RANGE |
||||||
|
OPEN |
HIGH |
LOW |
CLOSE |
PREV.CLOSE |
CHANGE |
%CHANGE |
|
78.48 |
80.59 |
77.97 |
80.43 |
78.37 |
2.06 |
2.63% |
|
DAILY PIVOT POINT |
||||||
|
R3 |
R2 |
R1 |
PIVOT |
S1 |
S2 |
S3 |
|
83.97 |
82.28 |
81.35 |
79.66 |
78.73 |
77.04 |
|
That's the explanation of “Daily Technical Analysis: June 18, 2024 – Gold Approaching Support Level.” Also, be sure to check out our other articles, such as the guide on how to buy cryptocurrency, only on GIC Journal. Don't forget to enhance your trading skills by getting the Scalping Ebook guide. Make sure to download the GIC Mobile App on the Google Play Store.
