Here's the daily technical analysis for November 22, 2023. The data and analysis provided in this bulletin can be broadly used for your trading. However, it should be noted that GICTrade and the data providers are not responsible for your trading outcomes.
 
We will inform you about the expected price movements in Forex and Commodities, along with Pivot point calculations, Resistance, and Support levels.
 

EURUSD


EUR/USD on the 1-hour timeframe is attempting to move downwards, reaching support at 1.08930 and heading towards the next support level at 1.08640. The downward trend is also reflected in the template, indicating a higher percentage potential for decline compared to the percentage for increase. Meanwhile, the bearish bias is supported by a sell signal shown by the purple arrow.

Suggest: Sell 1.08930 TP1 1.08640 TP2 1.08280 SL 1.09290

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

1.09387

1.09653

1.09002

1.09109

1.09405

-0.00296

-0.27%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

1.10230

1.09940

1.09580

1.09290

1.08930

1.08640

1.08280

 

GBPUSD

GBP/USD on the 1-hour timeframe is attempting to move downwards, reaching support at 1.24890 and heading towards the next support level at 1.24600. The downward trend is also visible in the template, indicating a higher percentage potential for decline compared to the percentage for increase. The bearish bias is supported by a sell signal shown by the purple arrow.

Suggest: Sell 1.24890 TP1 1.24600 TP2 1.24250 SL 1.25240

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

1.25042

1.25594

1.24956

1.25381

1.25050

0.00331

0.26%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

1.26160

1.25880

1.25520

1.25240

1.24890

1.24600

1.24250

 

AUDUSD

AUD/USD on the 1-hour timeframe is attempting to move downwards, reaching support at 0.65320 and heading towards the next support level at 0.65160. The downward trend is also visible in the template, indicating a higher percentage potential for decline compared to the percentage for increase. The bearish bias is supported by a sell signal shown by the purple arrow.

Suggest: Sell 0.65320 TP1 0.65160 TP2 0.64890 SL 0.65610

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

0.65548

0.65897

0.65444

0.65559

0.65567

-0.00008

-0.01%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

0.66230

0.66060

0.65780

0.65610

0.65320

0.65160

0.64870

 

USDCHF

USD/CHF on the 1-hour timeframe is attempting to move upwards, reaching resistance at 0.88570 and heading towards the next resistance level at 0.88860. The upward trend is also visible in the template, indicating a higher percentage potential for increase compared to the percentage for decline. The bullish bias is supported by a buy signal shown by the blue arrow.

Suggest: Buy 0.88380 TP1 0.88570 TP2 0.88670 SL 0.88200

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

0.88482

0.88488

0.88194

0.88360

0.88501

-0.00141

-0.16%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

0.88860

0.88670

0.88570

0.88380

0.88270

0.88090

0.87980

 

USDJPY

USD/JPY on the 1-hour timeframe is attempting to move upwards, reaching resistance at 149.090 and heading towards the next resistance level at 149.570. The upward trend is also visible in the template, indicating a higher percentage potential for increase compared to the percentage for decline. The bullish bias is supported by a buy signal shown by the blue arrow.

Suggest: Sell 149.570 TP1 149.200 TP2 149.000 SL 149.800

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

148.323

148.596

147.149

148.400

148.396

0.004

0.00%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

150.540

149.570

149.090

148.120

147.640

146.670

146.200

 

XUL (LOCO LONDON GOLD)


Gold on the 1-hour timeframe is attempting to move upwards, reaching resistance at 2020.10 and heading towards the next resistance level at 2032.60. The upward trend is also visible in the template, indicating a higher percentage potential for increase compared to the percentage for decline. The bullish bias is supported by a buy signal shown by the blue arrow.

Suggest: Sell 2005.00 TP1 2000.00 TP2 1995.00 SL 2010.00

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

1977.95

2007.56

1977.79

1998.07

1977.36

20.71

1.05%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

2032.60

2020.10

2002.80

1990.30

1973.00

1960.50

1943.30

 

CLSK (OIL)

 Oil on the 1-hour timeframe is attempting to move upwards, needing to surpass resistance at 78.16 to reach the next resistance level at 78.52. For a bearish bias, oil prices must drop below support at 77.17 to head towards the next support level at 76.54.

Suggest: Buy 77.60 TP1 78.00 TP2 78.50 SL 77.20

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

77.58

77.89

76.90

77.81

77.55

0.26

0.34%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

79.15

78.52

78.16

77.53

77.17

76.54

76.18
That concludes the explanation of “Daily Technical Analysis: November 22, 2023 – Improving U.S. Data, Dollar Can Rise.” Be sure to check out our other articles, such as guides on how to buy cryptocurrency, only on the GIC Journal. Don't forget to hone your trading skills by getting our Ebook Scalping guide and participating in Live Trading at NFP Live Trading. Also, make sure to download the GIC Mobile Apps on the Google Play Store.