The following is the daily technical analysis for September 18, 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.

GBPUSD



The GBP/USD on the 1-hour period is above the first support area at 1.31420, attempting to move up to the pivot area at 1.31860 and potentially reaching the first resistance area at 1.32260. Meanwhile, the RSI indicator is below the pivot and in oversold territory, suggesting that the pound sterling may have the potential to rebound.

Suggest: Buy 1.31500 TP1 1.31700 TP2 1.32000 SL 1.31300

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

1.32100

1.32298

1.31462

1.31593

1.32154

-0.00561

-0.42%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

1.33090

1.32700

1.32260

1.31860

1.31420

1.31020

1.30590

 

XAUUSD

Gold prices on the 1-hour period are above the first support area at 2562.70, attempting to move up towards the pivot area at 2574.80 and potentially reaching the first resistance area at 2588.80. Meanwhile, the RSI indicator is below the pivot area, indicating that gold prices may have the potential to rise.

Suggest: Buy 2567.00 TP1 2572.00 TP2 2582.00 SL 2562.00

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

2582.06

2586.90

2560.79

2569.47

2582.91

-13.44

-0.52%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

2614.90

2600.90

2588.80

2574.80

2562.70

2548.70

2536.60


CLSK (OIL)



Oil prices on the 1-hour period are above the first support area at 68.81, with the potential to move up to the pivot area at 69.72 and potentially reach the first resistance area at 70.94. Meanwhile, the RSI indicator is below the pivot area, suggesting that oil prices may have the potential to rise further.

Suggest: Buy 69.30 TP1 69.80 TP2 70.30 SL 68.80

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

69.29

70.63

68.50

70.03

69.26

0.77

1.11%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

73.07

71.85

70.94

69.72

68.81

67.59

66.68

 


That concludes the explanation of “Daily Technical Analysis: September 18, 2024 – Ahead of FOMC, Dollar May Dive.” Be sure to check out our other articles, such as the guide on how to buy cryptocurrency, only on Jurnal GIC. Don’t forget to enhance your trading skills by obtaining the Scalping Guide Ebook. Make sure to download the GIC Mobile App from the Google Play Store.