Daily Technical Analysis: Sep 11, 2023 – US Economy Improves, Dollar Rises

Here is the daily technical analysis for September 11, 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 outcomes.

Thus, it is your own responsibility. Before reviewing today’s technical analysis, be sure to register for the GIC Big Deals event, 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 forecasts for price movements in Forex and Commodities, along with calculations for Pivot Points, Resistance, and Support levels.

EURUSD



EUR/USD in the 1-hour period is attempting to move higher, touching the resistance level at 1.07560 and heading towards the next resistance level at 1.07710. The upward trend is also evident from the FXBot template, where the EUR figure is higher at 7.0 compared to the USD figure at 0.7. Meanwhile, the bullish bias is supported by a buy signal indicated by the green arrow.

Suggest: Sell 1.07320 TP1 1.07070 TP2 1.06720 SL 1.07560

GBPUSD

GBP/USD in the 1-hour period is attempting to move higher, touching the resistance level at 1.25360 and heading towards the next resistance level at 1.25600. The upward trend is also evident from the FXBot template, where the GBP figure is higher at 4.8 compared to the USD figure at 0.2. Meanwhile, the bullish bias is supported by a buy signal indicated by the green arrow.

Suggest: Sell 1.25150 TP1 1.24950 TP2 1.24730 SL 1.25360

AUDUSD



AUD/USD in the 1-hour period is attempting to move higher, touching the resistance level at 0.64280 again and heading towards the next resistance level at 0.64440. The upward trend is also supported by the FXBot template, where the AUD figure is higher at 8.1 compared to the USD figure at 0.2. Meanwhile, the bullish bias is supported by a buy signal indicated by the green arrow.

Suggest: Sell 0.64300 TP1 0.64000 TP2 0.63800 SL 0.64500

USDCHF



USD/CHF in the 1-hour period is attempting to move lower, touching the support level at 0.89060 and heading towards the next support level at 0.88640. The downward trend is also evident from the FXBot template, where the CHF figure is higher at 1.1 compared to the USD figure at 0.2. Meanwhile, the bearish bias is supported by a sell signal indicated by the red arrow.

Suggest: Buy 0.89000 TP1 0.89200 TP2 0.89470 SL 0.88790

USDJPY



USD/JPY in the 1-hour period is attempting to move lower, touching the support level at 146.090 and heading towards the next support level at 145.610. The downward trend is also supported by the FXBot template, where the JPY figure is higher at 7.5 compared to the USD figure at 0.1. Meanwhile, the bearish bias is supported by a sell signal indicated by the red arrow.

Suggest: Buy 146.250 TP1 146.600 TP2 146.890 SL 146.000

XUL (LOCO LONDON GOLD)



Gold prices in the 1-hour period are attempting to move higher, touching the resistance level at 1925.00 and heading towards the next resistance level at 1933.40. Meanwhile, the bullish bias is supported by a buy signal indicated by the green arrow.

Suggest: Sell 1928.00 TP1 1924.00 TP2 1921.10 SL 1933.40

CLSK (OIL)

Oil prices in the 1-hour period are attempting to move lower, needing to break through the support level at 86.69 to head towards the next support level at 86.30. For a further bullish bias, oil prices need to surpass the resistance level at 87.67 to move towards the next resistance level at 88.08.

Suggest: Sell 86.70 TP1 86.30 TP2 86.00 SL 87.11