The following is the daily technical analysis for September 12, 2024. The data and analysis in this bulletin can be broadly used for your trading activities. However, it is important to note that GICTrade and the data providers are not responsible for the outcome of your trades.

We will now provide a forecast of price movements in Forex and Commodities, complete with calculations of Pivot points, Resistance, and Support levels.

EURUSD



The EUR/USD on the 1-hour period is below the pivot area at 1.102100, attempting to move down to the first support area at 1.09870 and potentially reaching the second support area at 1.09680. Meanwhile, the RSI indicator is above the pivot area, suggesting that the euro may have the potential to rise first before declining further.

Suggest: Sell 1.10400 TP1 1.10210 TP2 1.109870 SL 1.10600

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

1.10144

1.10549

1.10021

1.10111

1.10191

-0.00080

-0.07%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

1.10930

1.10740

1.10400

1.10210

1.09870

1.09680

1.09340

 


XAUUSD



Gold prices on the 1-hour period are above the pivot area at 2514.90, attempting to move up towards the first resistance area at 2528.90 and potentially reaching the second resistance area at 2543.00. Meanwhile, the RSI indicator is above the pivot area, indicating that gold prices may have the potential to rise further before a correction.

Suggest: Sell 2525.00 TP1 2520.00 TP2 2515.00 SL 2530.00

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

2516.31

2529.03

2500.94

2513.38

2516.55

-3.17

-0.13%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

2557.00

2543.00

2528.90

2514.90

2500.80

2486.80

2472.70


CLSK (OIL)



Oil prices on the 1-hour period are above the pivot area at 66.94, with the potential to move up to the first resistance area at 68.27 and potentially reaching the second resistance area at 69.27. Meanwhile, the RSI indicator is above the pivot area, suggesting that oil prices may have the potential to rise further before a correction.

Suggest: Buy 67.00 TP1 67.50 TP2 68.30 SL 66.50.10

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

66.26

67.94

65.61

67.26

66.26

1.00

1.51%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

70.60

69.27

68.27

66.94

65.94

64.61

63.61

 


So, that concludes the explanation of "Daily Technical Analysis: September 12, 2024 – US Dollar Attempts to Rebound." Also, check out our other articles, such as guides on how to buy cryptocurrency, only in the GIC Journal. Don't forget to enhance your trading skills by getting the Scalping Ebook guide. Be sure to download the GIC Mobile Apps from the Google Play Store.