Daily Technical Analysis: June 7, 2023 – Optimistic Economy, US Dollar Rebound

The following is a technical daily analysis, June 7, 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 downwards, touching the support level at 1.06700 and heading to the next support level at 1.06340. The downward trend can also be seen from the FXBot template, where the EUR figure is lower by 3.7 than the USD figure of 5.4. While the bearish bias is also supported by a sell signal indicated by a red arrow.

Suggest: Sell 1.06800 TP1 1.06600 TP2 1.06340 SL 1.07000

GBPUSD

GBP/USD on the 1-hour period tried to move down, touching the support level at 1.24260 until the next support level at 1.23940. The downward trend can also be seen from the FXBot template, where the GBP figure is lower by 3.8 from the USD figure of 5.2. While the bearish bias is also supported by a sell signal indicated by a red arrow.

Suggest: Sell 1.24260 TP1 1.23940 TP2 1.23700 SL 1.24500

AUDUSD

Daily technical analysis for the AUD/USD pair on the 1-hour period tried to move down, touching the support level at 0.66500 to the next support level at 0.66050. The downward trend can also be seen from the FXBot template, where the AUD figure is lower by 4.5 from the USD figure of 5.1.

Suggest: Sell 0.66500 TP1 0.66300 TP2 0.66050 SL 0.66800

USDCHF

USD/CHF in the 1-hour period tried to move down, touching the support level at 0.90670 until heading to the next support level at 0.90370. The downward trend can also be seen from the FXBot template, where the CHF figure is higher by 5.5 than the USD figure of 5.0. While the bearish bias is also supported by a sell signal indicated by a red arrow.

Suggest: Sell 0.90670 TP1 0.90370 TP2 0.90020 SL 0.90900

USDJPY

USD/JPY in the 1-hour period moved down, trying to touch the support level at 139,150 until heading to the next support level at 138,670. The downward trend can also be seen from the FXBot template, where the JPY figure is higher by 7.6 than the USD figure of 5.1. While the bearish bias is also supported by a sell signal indicated by a red arrow.

Suggest: Buy 139.150 TP1 138.900 TP2 138.670 SL 139.500

XUL (LOCO LONDON GOLD)

Daily technical analysis for gold prices in the 1-hour period tried to move down, touching the support area at 1961.10 until heading to the next support level at 1956.00. Meanwhile, from the FXBot template, a bearish trend can be seen supported by a sell signal indicated by a red arrow.

Suggest: Sell 1961.10 TP1 1956.00 TP2 1950.00 SL 1967.00

CLSK (OIL)

Oil prices in the 1-hour period are trying to move further down, needing to pass the support area at 71.04 to reach the next support level at 70.30. Meanwhile, to change the bias to bullish, oil prices need to cross the resistance level at 72.20 to reach the next resistance level at 73.49.

Suggest: Sell 71.04 TP1 70.60 TP2 70.30 SL 71.50