Here is the daily technical analysis for May 30, 2024. The data and analysis presented in this bulletin can be broadly applied to your trading. However, it is important to note that GICTrade and the data providers are not responsible for your trading results.

We will now provide a forecast of price movements in Forex and Commodities, complete with Pivot point calculations, Resistance, and Support levels.

EURUSD



EUR/USD on the 1-hour timeframe is at the first support area at 1.07990, trying to move up towards the pivot area at 1.08290 and then to the first resistance at 1.08580. Meanwhile, the RSI indicator is below the pivot area or in the oversold territory, suggesting that the euro has the potential to move up or rebound.

Suggest: Buy 1.07940 TP1 1.08150 TP2 1.08400 SL 1.07750

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

1.08573

1.08595

1.07999

1.08006

1.08563

-0.00557

-0.51%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

1.09180

1.08890

1.08580

1.08290

1.07990

1.07690

1.07390


XAUUSD (LOCO LONDON GOLD)



Gold prices on the 1-hour timeframe are above the first support area at 2335.00, attempting to rebound towards the pivot area at 2348.80 and then to the first resistance area at 2363.10. Meanwhile, the RSI indicator is below the pivot area, suggesting that gold prices have the potential to rise first before continuing their downward trend.

Suggest: Sell 2343.00 TP1 2338.00 TP2 2328.00 SL 2348.00

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

2360.96

2362.63

2334.51

2336.99

2359.84

-22.85

-0.97%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

2391.20

2376.90

2363.10

2348.80

2335.00

2320.70

2306.90


CLSK (OIL)



Oil prices on the 1-hour timeframe are below the pivot area at 79.53, with the potential to move down to the first support area at 78.46 and then to the second support area at 77.91. Meanwhile, the RSI indicator is below the pivot area, indicating that oil prices have the potential to move lower.

Suggest: Sell 79.20 TP1 78.80 TP2 78.30 SL 79.60

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

80.25

80.60

78.98

79.02

80.14

-1.12

-1.40%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

81.70

81.15

80.08

79.53

78.46

77.91

76.84


Well, that concludes the explanation of “Daily Technical Analysis: May 30, 2024 – US Dollar in an Uptrend.” Also, check out our other articles, such as the guide on how to buy cryptocurrency, only at Jurnal GIC. Don’t forget to enhance your trading skills by obtaining the Ebook Scalping guide. Make sure to download the GIC Mobile Apps from the Google Play Store.