Here is the daily technical analysis for October 27, 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.

Therefore, this is your own responsibility. Before reviewing today’s technical analysis, make sure to register for 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.

We will provide information on the price movement forecasts in Forex and Commodity, complete with calculations for Pivot points, Resistance, and Support levels.


EURUSD




The EUR/USD pair on the 1-hour timeframe is attempting to move further down, touching the support level at 1.05390 and heading towards the next support level at 1.05060. The downtrend is also evident from the template, where the potential percentage decline is higher than the percentage increase. Meanwhile, the bearish bias is also supported by the sell signal indicated by the purple arrow.

Suggest: Sell 1.05390 TP1 1.05060 TP2 1.04920 SL 1.05600

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

1.05641

1.05673

1.05207

1.05609

1.05641

-0.00032

-0.03%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

1.06320

1.06000

1.05850

1.05530

1.05390

1.05060

1.04920

 

 
GBPUSD


The GBP/USD pair on the 1-hour timeframe is attempting to move further down, touching the support level at 1.21100 and heading towards the next support level at 1.20400. The downtrend is also evident from the template, where the potential percentage decline is higher than the percentage increase. Meanwhile, the bearish bias is also supported by the sell signal indicated by the purple arrow.

Suggest: Sell 1.21100 TP1 1.20820 TP2 1.20400 SL 1.21400

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

1.21090

1.21378

1.20678

1.21255

1.21094

0.00161

0.13%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

1.22220

1.21800

1.21520

1.21100

1.20820

1.20400

1.20120

 

AUDUSD



The AUD/USD pair on the 1-hour timeframe is attempting to move down, touching the support level at 0.63060 and heading towards the next support level at 0.62830. The downtrend is also evident from the template, where the potential percentage decline is higher than the percentage increase. Meanwhile, the bearish bias is also supported by the sell signal indicated by the purple arrow.

Suggest: Sell 0.63060 TP1 0.62830 TP2 0.62460 SL 0.63400

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

0.63061

0.63287

0.62683

0.63194

0.63063

0.00131

0.21%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

0.64040

0.63660

0.63440

0.63060

0.62830

0.62460

0.62230

 

 

USDCHF


The USD/CHF pair on the 1-hour timeframe is attempting to move further up, touching the resistance level at 0.90200 and heading towards the next resistance level at 0.90380. The uptrend is also evident from the template, where the potential percentage increase is higher than the percentage decline. Meanwhile, the bias appears bullish, supported by the buy signal indicated by the blue arrow.

Suggest: Buy 0.89970 TP1 0.90200 TP2 0.90380 SL 0.89790

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

0.89645

0.90026

0.89612

0.89867

0.89661

0.00206

0.23%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

0.90380

0.90200

0.89970

0.89790

0.89550

0.89380

0.89140

 

USDJPY



The USD/JPY pair on the 1-hour timeframe is attempting to move down, touching the support level at 149.840 and heading towards the next support level at 149.400. However, the overall trend remains bullish, as indicated by the template, where the potential percentage increase is higher than the percentage decline. Meanwhile, the bias appears bearish, supported by the sell signal indicated by the purple arrow.

Suggest: Sell 150.200 TP1 150.000 TP2 149.840 SL 150.500

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

150.212

150.759

149.858

150.385

150.212

0.173

0.12%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

151.640

151.200

150.740

150.300

149.840

149.400

148.940

 

 

XUL (LOCO LONDON GOLD)



Gold prices on the 1-hour timeframe are attempting to move down, touching the support level at 1982.60 and heading towards the next support level at 1971.90. However, the overall trend remains bullish, as indicated by the template, where the potential percentage increase is higher than the percentage decline. Meanwhile, the bias appears bearish, supported by the sell signal indicated by the purple arrow.

Suggest: Sell 1982.60 TP1 1975.60 TP2 1971.90 SL 1987.00

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

1980.22

1993.33

1971.64

1985.33

1979.07

6.26

0.32%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

2015.20

2004.30

1993.60

1982.60

1971.90

1960.90

1950.20

 

 

CLSK (OIL)



Oil prices on the 1-hour timeframe are attempting to move down, needing to break through the support level at 83.90 to reach the next support level at 82.23. However, to shift the bias to bullish, oil prices must surpass the resistance level at 85.25, heading towards the next resistance level at 86.92.

Suggest: Sell 83.90 TP1 83.50 TP2 83.00 SL 84.40

 

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

85.35

85.57

82.55

83.59

85.23

-1.64

-1.92%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

88.27

86.92

85.25

83.90

82.23

80.88

79.21

That's the explanation for "Daily Technical Analysis: October 27, 2023 – US Economy Grows Strong, Here's How Forex Moves." Also, check out our other articles, such as explanations on how to buy cryptocurrency, only on Jurnal GIC. Don't forget to improve your trading skills by getting the Scalping Ebook guide and joining Live Trading in NFP Live Trading. Make sure to download the GIC Mobile App on Google Play Store.