Daily Technical Analysis: October 2, 2023 – Unstoppable Greenback Strength

This is the daily technical analysis for October 2, 2023. The data and analysis in this bulletin can be widely used for your trading. However, it is important to note that GICTrade and the data providers are not responsible for the results of your trading.

Thus, it is your own responsibility. Before checking today's technical analysis, register immediately to join GIC Big Deals, which offers exclusive benefits and various exciting prizes. This event is only available for a limited time, from July 10 to December 31, 2023.

Below, we will provide you with the price movement forecast for Forex and Commodities, complete with Pivot point calculations, Resistance, and Support levels.


EURUSD



The daily technical analysis for the EUR/USD pair on the 1-hour period shows an attempt to move up, touching the resistance level at 1.05760 and potentially heading to the next resistance level at 1.05970. The uptrend is also visible in the FXBot template, where the EUR figure is higher at 9.0 compared to the USD figure of 6.1. However, the bias remains bearish, supported by a sell signal indicated by a red arrow.

Suggest: Buy 1.05760 TP1 1.05970 TP2 1.06360 SL 1.05500

GBPUSD

The GBP/USD pair on the 1-hour period is attempting to move down, touching the support level at 1.21540 and potentially heading to the next support level at 1.21210. The downtrend is also reflected in the FXBot template, where the GBP figure is lower at 5.7 compared to the USD figure of 6.2. Meanwhile, the bearish bias is further supported by a sell signal indicated by a red arrow.

Suggest: Buy 1.21800 TP1 1.22120 TP2 1.22450 SL 1.21540

AUDUSD

The daily technical analysis for the AUD/USD pair on the 1-hour period shows an attempt to move down, touching the support level at 0.63810 and potentially heading to the next support level at 0.63470. The downtrend is also supported by the FXBot template, where the AUD figure is lower at 0.2 compared to the USD figure of 6.4. Meanwhile, the bearish bias is further confirmed by a sell signal indicated by a red arrow.

Suggest: Buy 0.63900 TP1 0.64200 TP2 0.64400 SL 0.63600

USDCHF

The USD/CHF pair on the 1-hour period is attempting to move down, touching the support level at 0.91370 again and potentially heading to the next support level at 0.91130. However, the downtrend is not yet visible in the FXBot template, where the CHF figure is lower at 4.6 compared to the USD figure of 6.2. Meanwhile, the bearish bias is supported by a sell signal indicated by a red arrow.

Suggest: Sell 0.91370 TP1 0.91130 TP2 0.90900 SL 0.91600

PREVIOUS RANGE
OPEN	HIGH	LOW	CLOSE	PREV.CLOSE	CHANGE	%CHANGE
0.91474	0.91615	0.90890	0.91492	0.91470	0.00022	0.02%
DAILY PIVOT POINT
R3	R2	R1	PIVOT	S1	S2	S3
0.92580	0.92100	0.91850	0.91370	0.91130	0.90650	0.90400

 

USDJPY

The USD/JPY pair on the 1-hour period is attempting to move up, touching the resistance level at 149.830 and potentially heading to the next resistance level at 150.140. The uptrend is also supported by the FXBot template, where the JPY figure is lower at 1.6 compared to the USD figure of 6.2. Meanwhile, the bias indicates a bullish trend, supported by a buy signal indicated by a green arrow.

Suggest: Buy 149.750 TP1 149.500 TP2 149.170 SL 150.140

PREVIOUS RANGE
OPEN	HIGH	LOW	CLOSE	PREV.CLOSE	CHANGE	%CHANGE
149.282	149.483	148.511	149.387	149.282	0.105	0.07%
DAILY PIVOT POINT
R3	R2	R1	PIVOT	S1	S2	S3
150.800	150.140	149.830	149.170	148.860	148.200	147.880

 

XUL (LOCO LONDON GOLD)

The daily technical analysis for the price of gold on the 1-hour period shows an attempt to move down, touching the support level at 1839.50 and potentially heading to the next support level at 1826.30. To change the bias to bullish, the price of gold would need to break through the resistance level at 1859.80 to potentially reach the next resistance level at 1873.40.

Suggest: Buy 1840.00 TP1 1845.00 TP2 1850.00 SL 1835.00

PREVIOUS RANGE
OPEN	HIGH	LOW	CLOSE	PREV.CLOSE	CHANGE	%CHANGE
1864.68	1879.69	1846.19	1848.64	1866.22	-17.58	-0.94%
DAILY PIVOT POINT
R3	R2	R1	PIVOT	S1	S2	S3
1906.90	1893.30	1873.40	1859.80	1839.90	1826.30	1806.40

 

CLSK (OIL)

The price of oil on the 1-hour period is attempting to move down further, needing to break through the support level at 89.80 to potentially reach the next support level at 88.71. To change the bias to bullish, the price of oil would need to break through the resistance level at 91.43 to potentially reach the next resistance level at 92.52.

Suggest: Sell 91.50 TP1 91.00 TP2 90.50 SL 92.00

PREVIOUS RANGE
OPEN	HIGH	LOW	CLOSE	PREV.CLOSE	CHANGE	%CHANGE
91.74	93.06	90.34	90.89	91.72	-0.83	-0.90%
DAILY PIVOT POINT
R3	R2	R1	PIVOT	S1	S2	S3
95.24	94.15	92.52	91.43	89.80	88.71	87.08

So, that concludes the explanation of “Daily Technical Analysis: October 2, 2023 – Unstoppable Strength of the Greenback.” Be sure to check out our other articles, such as the explanation of how to buy cryptocurrency, exclusively at Jurnal GIC. Don’t forget to enhance your Forex and Commodity trading skills by obtaining the Ebook Scalping guide and participating in Live Trading during NFP Live Trading. Make sure to download the GIC Mobile App from the Google Play Store.