Technical Analysis: 23 December 2022 – Dollar Resilient Again by GDP Data

This is a technical daily analysis, December 23, 2022. The data and analysis contained in this newsletter can be used on a wide scale for your trading. However, it is important to note that GICTrade and its data providers are not responsible for your trading results. So, it's your own responsibility. Before knowing today's technical analysis, immediately register yourself to take part in the GIC Gebyar Prize and get the main prize, namely Mobile Mitshubshi Expander or Vacation Package to Labuan Bajo for 4 nights and 3 days. In the following, we will inform you of price movement predictions in Forex and Commodities which are equipped with calculations of Pivot Point levels, Resistance and Support.

EURUSD

[caption id="attachment_23170" align="aligncenter" width="1020"] Photo Source: Yanto via GIC[/caption] The EUR/USD pair is still in a sideways pattern on the 1-hour time frame. However, the MA20 crossing with the MA50 from above has the potential to make the euro move down. A break of support or the lower boundary in the 1.05800 area will confirm a further decline to the 1.05570 level.

PREVIOUS RANGE
OPEN	HIGH	LOW	CLOSE	PREV.CLOSE	CHANGE	%CHANGE
1.06032	1.06587	1.05727	1.05973	1.06031	-0.00058	-0.05%
DAILY PIVOT POINT
R3	R2	R1	PIVOT	S1	S2	S3
1.07290	1.06940	1.06430	1.06080	1.05570	1.05220	1.04710

GBPUSD

[caption id="attachment_23166" align="aligncenter" width="1020"] Photo Source: Yanto via GIC[/caption] GBP/USD is still in a bearish trend line, this is also strengthened by the MA50 indicator crossing the MA200 line from above. However, in the short term or Asian session, GBP/USD has a chance to correct upwards to the level of 1.21270 before continuing its decline to the next support level at 1.19900. MUST READ!

Daily Technical Analysis: December 21, 2022 – Japanese Yields Weigh on the US Dollar

PREVIOUS RANGE
OPEN	HIGH	LOW	CLOSE	PREV.CLOSE	CHANGE	%CHANGE
1.20788	1.21468	1.19917	1.20399	1.20821	-0.00422	-0.35%
DAILY PIVOT POINT
R3	R2	R1	PIVOT	S1	S2	S3
1.22910	1.22190	1.21360	1.20640	1.19810	1.19090	1.18260

AUDUSD

[caption id="attachment_23171" align="aligncenter" width="1018"] Sumber Foto : Yanto via GIC[/caption]   Pasangan AUD/USD mencoba untuk bergerak naik atau rebound menuju Resistance 0.67470 hingga 0.68150. Namun, jika break support 0.66300 maka Aussie akan berubah bias menjadi bearish lebih lanjut hingga support berikutnya di area 0.65810.

PREVIOUS RANGE
OPEN	HIGH	LOW	CLOSE	PREV.CLOSE	CHANGE	%CHANGE
0.67045	0.67665	0.66494	0.66707	0.67063	-0.00356	-0.53%
DAILY PIVOT POINT
R3	R2	R1	PIVOT	S1	S2	S3
0.68640	0.68150	0.67470	0.66980	0.66300	0.65810	0.65120

USDCHF

[caption id="attachment_23169" align="aligncenter" width="1018"] Photo Source: Yanto via GIC[/caption] Daily Technical Analysis for USD/CHF is observed trying to rebound or move up after the MA20 crossed the MA50 line from below on the 1-hour time frame and tried to cross the MA200 line. To rise further, USD/CHF needs to break the continued resistance at 0.93340 to the range of 0.93750. Another scenario to change could be bearish again, then it needs to pass through the support area at 0.92800 to 0.92400.

PREVIOUS RANGE
OPEN	HIGH	LOW	CLOSE	PREV.CLOSE	CHANGE	%CHANGE
0.92660	0.93204	0.92258	0.93084	0.92660	0.00424	0.45%
DAILY PIVOT POINT
R3	R2	R1	PIVOT	S1	S2	S3
0.94290	0.93750	0.93340	0.92800	0.92400	0.91850	0.91450

USDJPY

[caption id="attachment_23165" align="aligncenter" width="1016"] Photo Source: Yanto via GIC[/caption] USD/JPY has the potential to rise again if it is able to break through the first resistance level at 132,940 and try to touch the 134,500 area which is a key resistance level after previously being a support area. However, if it manages to break through the support level at 131,870, the bearish trend will have a chance to further reach the 131,210 range.

PREVIOUS RANGE
OPEN	HIGH	LOW	CLOSE	PREV.CLOSE	CHANGE	%CHANGE
132.447	132.714	131.638	132.355	132.447	-0.092	-0.07%
DAILY PIVOT POINT
R3	R2	R1	PIVOT	S1	S2	S3
134.020	133.370	132.940	132.290	131.870	131.210	130.790

XUL (LOCO LONDON GOLD)

[caption id="attachment_23168" align="aligncenter" width="1017"] Photo Source: Yanto via GIC[/caption] Daily Technical Analysis This time, gold prices still have a chance to fall further because they are still moving below the 1802.60 pivot area. A break of 1784.50 is needed to resume its decline until the next support area at 1767.00. However, if the gold price is able to pass the nearest resistance at 1798.50, then the bias is bullish again to the 1820.50 area.

PREVIOUS RANGE
OPEN	HIGH	LOW	CLOSE	PREV.CLOSE	CHANGE	%CHANGE
1813.51	1820.27	1784.69	1791.88	1814.61	-22.73	-1.25%
DAILY PIVOT POINT
R3	R2	R1	PIVOT	S1	S2	S3
1856.10	1838.20	1820.50	1802.60	1784.90	1767.00	1749.40

CLSK (OIL)

[caption id="attachment_23167" align="aligncenter" width="1021"] Photo Source: Yanto via GIC[/caption] Daily Technical Analysis This time the world crude oil price has the potential for correction, it needs to pass through the 77.70 area first for further decline to reach support at 76.88. Meanwhile, if the oil price is able to break through the resistance of 79.72, the increase will continue to the level of 81.21.

PREVIOUS RANGE
OPEN	HIGH	LOW	CLOSE	PREV.CLOSE	CHANGE	%CHANGE
78.41	79.86	77.02	78.22	78.41	-0.19	-0.24%
DAILY PIVOT POINT
R3	R2	R1	PIVOT	S1	S2	S3
82.56	81.21	79.72	78.37	76.88	75.53	74.04

So, that's the explanation of "Technical Daily Analysis: December 23, 2022 – Dollar Resilient Again Supported by GDP Data". Also read our other articles, such as an explanation of how to buy cryptocurrencies, only in the GIC Journal. Don't forget to practice your trading skills by getting the Scalping Ebook and following Live Trading on NFP Live Trading. Make sure, download GIC Mobile Apps on the Google Play Store.