Daily Technical Analysis: May 30, 2023 – The Dollar Is Expected to Fall, Why?

The following is a technical daily analysis, May 30, 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 downwards, trying to touch the support level at 1.06800 and towards the next support level at 1.06550. The downward trend can also be seen from the FXBot template, where the EUR figure is lower by 5.2 than the USD figure of 7.4. While the bearish bias is also supported by a sell signal indicated by a red arrow.

Suggest: Sell 1.06800 TP1 1.06550 TP2 1.06300 SL 1.07100

GBPUSD

GBP/USD on the 1-hour period moved down, trying to touch the support level at 1.23250 until the next support level at 1.22840. The downward trend can also be seen from the FXBot template, where the GBP figure is 5.0 more than the USD figure of 7.4. While the bearish bias is also supported by a sell signal indicated by a red arrow.

Suggest: Sell 1.23250 TP1 1.23070 TP2 1.22840 SL 1.23480

AUDUSD

Daily technical analysis for the AUD/USD pair on the 1-hour period moved downwards, trying to touch the support level at 0.65110 and towards the next support level at 0.64740. The downward trend can also be seen from the FXBot template, where the AUD figure is lower by 4.0 than the USD figure of 7.4. While the bearish bias is also supported by a sell signal indicated by a red arrow.

Suggest: Sell 0.65110 TP1 0.64900 TP2 0.64740 SL 0.65320

USDCHF

USD/CHF in the 1-hour period moved further up, trying to touch the resistance level at 0.90610 until heading towards the next resistance level at 0.90960. The upward trend can also be seen from the FXBot template, where the CHF figure is lower by 3.0 from the USD figure of 7.2. While the bullish bias is also supported by a buy signal indicated by a green arrow.

Suggest: Buy 0.90610 TP1 0.90800 TP2 0.90960 SL 0.90440

USDJPY

USD/JPY on the 1-hour period moved up, trying to touch the resistance level at 140,890 until the next resistance level at 141,310. The upward trend can also be seen from the FXBot template, where the JPY figure is lower by 5.6 than the USD figure of 7.1. While the bullish bias is also supported by a buy signal indicated by a green arrow.

Suggest: Buy 140.890 TP1 141.310 TP2 141.500 SL 140.500

XUL (LOCO LONDON GOLD)

Gold prices in the 1-hour period moved down, trying to touch the support area at 1934.20 until heading to the next support level at 1928.40. Meanwhile, from the FXBot template, a bearish trend can be seen supported by a sell signal indicated by a red arrow.

Suggest: Sell 1934.20 TP1 1930.00 TP2 1928.40 SL 1937.80

CLSK (OIL)

Daily technical analysis for oil price on the 1-hour period is trying to move up, needing to break through the resistance area at 72.84 and towards the next resistance level at 73.68. Meanwhile, to change the bias to bearish, oil prices need to pass the support level at 71.95 to reach the next support level at 71.35.

Suggest: Buy 72.84 TP1 73.30 TP2 73.68 SL 72.30