Here is the daily technical analysis for October 5, 2023. The data and analysis in this bulletin can be widely used for your trading. However, please note that GICTrade and data providers are not responsible for your trading results.
 
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Below is the forecast of price movements in Forex and Commodities, complete with Pivot point levels, Resistance, and Support calculations.

  

EURUSD

EUR/USD in the 1-hour period attempts to rise further, touching the resistance level at 1.05250 and moving towards the next resistance level at 1.05680. The upward trend is also visible from the FXBot template, where the EUR number is 2.7 higher than the USD's 0.5. Meanwhile, the bullish bias is supported by a buy signal indicated by a green arrow.

Suggest: Buy 1.05150 TP1 1.05400 TP2 1.05680 SL 1.04900

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

1.04644

1.05302

1.04495

1.05020

1.04643

0.00377

0.36%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

1.06050

1.05680

1.05250

1.04870

1.04440

1.04060

1.03630

 

GBPUSD


GBP/USD in the 1-hour period tries to move up further, reaching the resistance level at 1.21730 and heading to the next resistance level at 1.22440. The upward trend is also visible from the FXBot template, where the GBP number is 2.4 higher than the USD's 0.5. Meanwhile, the bullish bias is supported by a buy signal indicated by a green arrow.

Suggest: Buy 1.21500 TP1 1.21730 TP2 1.22000 SL 1.21200

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

1.20707

1.21751

1.20355

1.21334

1.20747

0.00587

0.49%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

1.23120

1.22440

1.21730

1.21040

1.20330

1.19640

1.18930

 

AUDUSD

The daily technical analysis for the AUD/USD pair in the 1-hour period tries to move up further, reaching the resistance level at 0.63950 and heading to the next resistance level at 0.64300. The upward trend is also supported by the FXBot template, where the AUD number is 9.0 higher than the USD's 0.4. Meanwhile, the bullish bias is supported by a buy signal indicated by a green arrow.

Suggest: Sell 0.64000 TP1 0.63800 TP2 0.63500 SL 0.64300

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

0.62989

0.63404

0.62846

0.63226

0.62997

0.00229

0.37%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

0.63950

0.63680

0.63390

0.63120

0.62840

0.62560

0.62280

 

USDCHF

USD/CHF in the 1-hour period attempts to move down further, touching the support level at 0.90990 and heading to the next support level at 0.90560. The downward trend is also visible from the FXBot template, where the CHF number is 5.5 higher than the USD's 0.4. Meanwhile, the bearish bias is supported by a sell signal indicated by a red arrow.

Suggest: Sell 0.91440 TP1 0.91200 TP2 0.90990 SL 0.91700

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

0.92049

0.92302

0.91419

0.91703

0.92077

-0.00374

-0.40%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

0.93200

0.92750

0.92320

0.91870

0.91440

0.90990

0.90560

 

USDJPY

USD/JPY in the 1-hour period attempts to move down, reaching the support level at 148.180 and heading to the next support level at 147.400. The downward trend is also supported by the FXBot template, where the JPY number is 3.5 higher than the USD's 0.4. The bias indicates bearish supported by a sell signal shown by a red arrow.

Suggest: Sell 148.450 TP1 148.200 TP2 148.000 SL 148.760

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

148.997

149.299

148.716

149.106

149.022

0.084

0.05%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

149.930

149.610

149.340

149.030

148.760

148.450

148.180

 

XUL (LOCO LONDON GOLD)

Gold prices in the 1-hour period attempt to rise, reaching the resistance level at 1836.40 and heading to the next resistance level at 1842.40. For a bearish bias, gold prices need to pass the support level at 1814.60, heading to the next support at 1808.60.

Suggest: Buy 1828.00 TP1 1835.00 TP2 1840.00 SL 1820.00

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

1821.91

1830.42

1816.50

1821.06

1823.87

-2.81

-0.15%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

1842.40

1836.40

1828.50

1822.50

1814.60

1808.60

1800.70

 

CLSK (OIL)


The daily technical analysis for oil prices in the 1-hour period is attempting to move higher, needing to break through the resistance level at 86.07 to reach the next resistance level at 87.99. For a bearish bias, oil prices must break through the support level at 84.00 to reach the next support level at 82.57.

Suggest: Buy 84.70 TP1 85.30 TP2 86.00 SL 84.00

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

89.40

89.57

84.15

84.50

89.48

-4.98

-5.57%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

93.41

91.49

87.99

86.07

82.57

80.65

77.15

 

That concludes the explanation of "Daily Technical Analysis: October 5, 2023 – Labor Sector Slowing, US Dollar Weakens." Also, check out our other articles, such as guides on how to buy cryptocurrency, available only at Jurnal GIC. Don’t forget to sharpen your trading skills by getting the Ebook Scalping guide and joining the Live Trading during NFP Live Trading. Be sure to download the GIC Mobile Apps from the Google Play Store.