Here is the daily technical analysis for October 25, 2023. The data and analysis in this bulletin can be widely used for your trading. However, it's important to note that GICTrade and the data provider are not responsible for your trading results.
 
We will provide forecasts for price movements in Forex and Commodities, along with calculations of Pivot Points, Resistance, and Support levels.
 

EURUSD

The technical daily analysis for the EUR/USD pair on the 1-hour timeframe shows an attempt to move higher, reaching the resistance level at 1.06320 and heading toward the next resistance level at 1.06830. The upward trend is also evident from the template, where the potential percentage increase is higher than the percentage decrease. The bullish bias is supported by a buy signal indicated by a blue arrow.

Suggest: Buy 1.06320 TP1 1.06550 TP2 1.06830 SL 1.06100

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

1.06666

1.06924

1.05812

1.05890

1.06668

-0.00778

-0.73%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

1.07940

1.07430

1.06830

1.06320

1.05720

1.05210

1.04600

 

GBPUSD

GBP/USD on the 1-hour timeframe shows an attempt to move higher, reaching the resistance level at 1.22110 and moving toward the next resistance level at 1.22710. The upward trend is also visible in the template, where the potential percentage increase is higher than the percentage decrease. The bullish bias is supported by a buy signal indicated by a blue arrow.

Suggest: Buy 1.22110 TP1 1.22400 TP2 1.22710 SL 1.21850

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

1.22452

1.22868

1.21515

1.21590

1.22452

-0.00862

-0.70%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

1.24060

1.23460

1.22710

1.22110

1.21350

1.20760

1.20000

 

AUDUSD

AUD/USD on the 1-hour timeframe shows an attempt to move higher, reaching the resistance level at 0.63980 and heading toward the next resistance level at 0.64190. The upward trend is also evident from the template, where the potential percentage increase is higher than the percentage decrease. The bullish bias is supported by a buy signal indicated by a blue arrow.

Suggest: Buy 0.63980 TP1 0.64190 TP2 0.64350 SL 0.63690

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

0.63328

0.63770

0.63270

0.63534

0.63328

0.00206

0.33%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

0.64190

0.63980

0.63690

0.63480

0.63190

0.62980

0.62690

 

USDCHF

The daily technical analysis for the USD/CHF pair on the 1-hour timeframe shows an attempt to move down, reaching the support level at 0.89180 and heading toward the next support level at 0.88870. The downward trend is also evident from the template, where the potential percentage decrease is higher than the percentage increase. The bearish bias is supported by a sell signal indicated by a purple arrow.

Suggest: Sell 0.89180 TP1 0.88870 TP2 0.88550 SL 0.89500

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

0.89085

0.89494

0.88861

0.89285

0.89093

0.00192

0.21%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

0.90130

0.89810

0.89500

0.89180

0.88870

0.88550

0.88230

 

USDJPY

USD/JPY on the 1-hour timeframe shows an attempt to move higher, reaching the resistance level at 150.100 and moving toward the next resistance level at 150.300. The upward trend is also visible from the template, where the potential percentage increase is higher than the percentage decrease. The bullish bias is supported by a buy signal indicated by a blue arrow.

Suggest: Buy 150.100 TP1 150.300 TP2 150.500 SL 149.800

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

149.685

149.909

149.305

149.890

149.694

0.196

0.13%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

150.700

150.300

150.100

149.700

149.490

149.100

148.890

 

XUL (LOCO LONDON GOLD)

Gold on the 1-hour timeframe shows an attempt to move higher, reaching the resistance level at 1985.80 and moving toward the next resistance level at 1996.90. The upward trend is also evident from the template, where the potential percentage increase is higher than the percentage decrease. The bullish bias is supported by a buy signal indicated by a blue arrow.

Suggest: Buy 1985.80 TP1 1990.00 TP2 1996.90 SL 1980.00

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

1972.29

1980.69

1953.43

1972.04

1973.01

-0.97

-0.05%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

2013.00

1996.90

1985.80

1969.60

1958.50

1942.30

1931.30

 

CLSK (OIL)

The daily technical analysis for oil on the 1-hour timeframe shows an attempt to move down, needing to break the support level at 82.29 and heading toward the next support level at 80.95. To change the bias to bullish, the oil price needs to break the resistance level at 84.28 and move toward the next resistance level at 85.62.

Suggest: Buy 84.28 TP1 84.70 TP2 85.00 SL 83.70

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

86.13

86.27

82.94

83.63

86.07

-2.44

-2.83%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

88.95

87.61

85.62

84.28

82.29

80.95

78.96

 
 
That concludes the explanation of "Daily Technical Analysis: October 25, 2023 – US Manufacturing Expansion, Dollar Rises." Also, check out our other articles, such as guides on how to buy cryptocurrency, only on GIC Journal. Don't forget to hone your trading skills by getting the Scalping Ebook guide and participating in Live Trading at NFP Live Trading. Be sure to download the GIC Mobile App from the Google Play Store.