Here is the daily technical analysis for October 23, 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 your trading results.
 
Thus, it is your own responsibility. Before delving into today’s technical analysis, be sure to register for the GIC Big Deals event, which offers exclusive benefits and a variety of exciting prizes. This event runs for a limited time, from July 10 to December 31, 2023.
 
Below, we will provide forecasts for price movements in Forex and Commodities, including calculations for Pivot points, Resistance, and Support levels.
 

EURUSD

EUR/USD on the 1-hour timeframe is attempting to move down, touching the support level at 1.05660 and heading toward the next support level at 1.05450. The downward trend is also evident from the template, where the potential percentage decline is higher than the percentage increase. Meanwhile, the bearish bias is supported by a sell signal indicated by a purple arrow.

Suggest: Sell 1.05660 TP1 1.05450 TP2 1.05280 SL 1.05840

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

1.05801

1.06018

1.05632

1.05907

1.05801

0.00106

0.10%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

1.06430

1.06230

1.06050

1.05840

1.05660

1.05450

1.05280

 

GBPUSD

GBP/USD on the 1-hour timeframe is attempting to move down, touching the support level at 1.21410 and heading toward the next support level at 1.21140. The downward trend is also evident from the template, where the potential percentage decline is higher than the percentage increase. Meanwhile, the bearish bias is supported by a sell signal indicated by a purple arrow.

Suggest: Sell 1.21410 TP1 1.21140 TP2 1.20640 SL 1.21800

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

1.21413

1.21684

1.20915

1.21629

1.21413

0.00216

0.18%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

1.22670

1.22180

1.21910

1.21410

1.21140

1.20640

1.20370

 

AUDUSD

AUD/USD on the 1-hour timeframe is attempting to move down, touching the support level at 0.63030 and heading toward the next support level at 0.62830. The downward trend is also evident from the template, where the potential percentage decline is higher than the percentage increase. Meanwhile, the bearish bias is supported by a sell signal indicated by a purple arrow.

Suggest: Sell 0.63030 TP1 0.62830 TP2 0.62710 SL 0.63200

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

0.63256

0.63274

0.62953

0.63103

0.63263

-0.00160

-0.25%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

0.63670

0.63470

0.63350

0.63150

0.63030

0.62830

0.62710

 

USDCHF

The daily technical analysis for the USD/CHF pair on the 1-hour timeframe is attempting to move up, touching the resistance level at 0.89500 and heading toward the next resistance level at 0.89660. The upward trend is also evident from the template, where the potential percentage increase is higher than the percentage decline. Meanwhile, the bullish bias is supported by a buy signal indicated by a blue arrow.

Suggest: Buy 0.89500 TP1 0.89660 TP2 0.89800 SL 0.89340

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

0.89111

0.89331

0.89004

0.89222

0.89126

0.00096

0.11%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

0.89660

0.89500

0.89340

0.89170

0.89010

0.88840

0.88680

 

USDJPY

USD/JPY on the 1-hour timeframe is attempting to move up, touching the resistance level at 149.940 and heading toward the next resistance level at 150.130. The upward trend is also evident from the template, where the potential percentage increase is higher than the percentage decline. Meanwhile, the bullish bias is supported by a buy signal indicated by a blue arrow.

Suggest: Buy 149.940 TP1 150.130 TP2 150.280 SL 149.790

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

149.711

149.974

149.637

149.835

149.771

0.064

0.04%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

150.280

150.130

149.940

149.790

149.610

149.450

149.270

 

XUL (LOCO LONDON GOLD)


Gold prices on the 1-hour timeframe are attempting to move up, touching the resistance level at 1980.30 and heading toward the next resistance level at 1988.80. The upward trend is also evident from the template, where the potential percentage increase is higher than the percentage decline. Meanwhile, the bullish bias is supported by a buy signal indicated by a blue arrow.

Suggest: Buy 1980.30 TP1 1988.80 TP2 2005.50 SL 1975.00

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

1973.57

1997.02

1971.85

1978.86

1973.06

5.80

0.29%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

2013.90

2005.50

1988.80

1980.30

1963.60

1955.10

1938.40

 

CLSK (OIL)

Here's the daily technical analysis for oil prices on the 1-hour timeframe, which is attempting to move down. It needs to break through the support level at 87.15 to reach the next support level at 86.20. For a bullish bias, oil prices must surpass the resistance level at 88.48 to target the next resistance level at 89.43.

Suggest: Sell 87.15 TP1 86.70 TP2 86.20 SL 87.60

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

89.07

89.81

87.53

88.11

89.40

-1.29

-1.44%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

91.71

90.76

89.43

88.48

87.15

86.20

84.87

 

This concludes the explanation of “Daily Technical Analysis: October 23, 2023 – Limited Data, Restricted Forex Movement.” Be sure to read our other articles, such as guides on how to buy cryptocurrency, only at GIC Journal. Don't forget to enhance your trading skills by obtaining the Ebook Scalping guide and joining the Live Trading at NFP Live Trading. Make sure to download the GIC Mobile App from the Google Play Store.