This is the daily technical analysis for August 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 results. Thus, the responsibility lies with you.
Before delving into today's technical analysis, be sure to register for the GIC Gift Festival and stand a chance to win the grand prize, a Mitsubishi Expander Mobile or a 4-day, 3-night vacation package to Labuan Bajo.
We will inform you of the price movement forecasts in Forex and Commodities, including calculations of Pivot points, Resistance, and Support levels.
The daily technical analysis for the EUR/USD pair in the 1-hour period attempts to move upward, touching the resistance level at 1.10250 before heading to the next resistance level at 1.10930. An upward trend is also visible from the FXBot template, where the EUR figure is higher at 5.2 compared to the USD at 5.1. Meanwhile, the bullish bias is also supported by a buy signal indicated by a green arrow.
Suggest: Buy 1.10250 TP1 1.10500 TP2 1.10930 SL 1.09950
|
PREVIOUS RANGE
|
|
OPEN
|
HIGH
|
LOW
|
CLOSE
|
PREV.CLOSE
|
CHANGE
|
%CHANGE
|
|
1.09716
|
1.10631
|
1.09655
|
1.09788
|
1.09716
|
0.00072
|
0.06%
|
|
DAILY PIVOT POINT
|
|
R3
|
R2
|
R1
|
PIVOT
|
S1
|
S2
|
S3
|
|
1.11220
|
1.10930
|
1.10250
|
1.09950
|
1.09270
|
1.08970
|
1.08290
|
GBPUSD
The GBP/USD pair in the 1-hour period attempts to move upward, touching the resistance level at 1.27180 again before moving to the next resistance level at 1.27680. An upward trend is also visible from the FXBot template, where the GBP figure is higher at 7.4 compared to the USD at 4.7. Meanwhile, the bullish bias is supported by a buy signal indicated by a green arrow.
Suggest: Buy 1.27180 TP1 1.27400 TP2 1.27680 SL 1.26800
|
PREVIOUS RANGE
|
|
OPEN
|
HIGH
|
LOW
|
CLOSE
|
PREV.CLOSE
|
CHANGE
|
%CHANGE
|
|
1.27156
|
1.28168
|
1.26678
|
1.26732
|
1.27158
|
-0.00426
|
-0.34%
|
|
DAILY PIVOT POINT
|
|
R3
|
R2
|
R1
|
PIVOT
|
S1
|
S2
|
S3
|
|
1.29170
|
1.28670
|
1.27680
|
1.27180
|
1.26190
|
1.25690
|
1.24700
|
AUDUSD
The AUD/USD pair in the 1-hour period attempts to move upward, touching the resistance level at 0.65420 before heading to the next resistance level at 0.65720. An upward trend is also visible from the FXBot template, where the AUD figure is higher at 5.2 compared to the USD at 5.0. Meanwhile, the bullish bias is supported by a buy signal indicated by a green arrow.
Suggest: Buy 0.65420 TP1 0.65720 TP2 0.65900 SL 0.65100
|
PREVIOUS RANGE
|
|
OPEN
|
HIGH
|
LOW
|
CLOSE
|
PREV.CLOSE
|
CHANGE
|
%CHANGE
|
|
0.65261
|
0.66144
|
0.65124
|
0.65131
|
0.65261
|
-0.00130
|
-0.20%
|
|
DAILY PIVOT POINT
|
|
R3
|
R2
|
R1
|
PIVOT
|
S1
|
S2
|
S3
|
|
0.66740
|
0.66440
|
0.65720
|
0.65420
|
0.64700
|
0.64400
|
0.63680
|
USDCHF
The daily technical analysis for the USD/CHF pair in the 1-hour period attempts to move upward, touching the resistance level at 0.88120 before heading to the next resistance level at 0.88360. An upward trend is also visible from the FXBot template, where the CHF figure is lower at 1.5 compared to the USD at 5.4. Meanwhile, the bullish bias is supported by a buy signal indicated by a green arrow.
Suggest: Sell 0.87800 TP1 0.87500 TP2 0.87260 SL 0.88120
|
PREVIOUS RANGE
|
|
OPEN
|
HIGH
|
LOW
|
CLOSE
|
PREV.CLOSE
|
CHANGE
|
%CHANGE
|
|
0.87702
|
0.87745
|
0.86883
|
0.87659
|
0.87702
|
-0.00043
|
-0.05%
|
|
DAILY PIVOT POINT
|
|
R3
|
R2
|
R1
|
PIVOT
|
S1
|
S2
|
S3
|
|
0.88980
|
0.88360
|
0.88120
|
0.87500
|
0.87260
|
0.86640
|
0.86390
|
USDJPY
The USD/JPY pair in the 1-hour period attempts to move upward, touching the resistance level at 144.980 before heading to the next resistance level at 145.660. However, the upward trend is not supported by the FXBot template, where the JPY figure is higher at 6.3 compared to the USD at 5.4. Meanwhile, the bullish bias is supported by a buy signal indicated by a green arrow.
Suggest: Sell 145.000 TP1 144.500 TP2 144.120 SL 145.500
|
PREVIOUS RANGE
|
|
OPEN
|
HIGH
|
LOW
|
CLOSE
|
PREV.CLOSE
|
CHANGE
|
%CHANGE
|
|
143.704
|
144.797
|
143.262
|
144.732
|
143.706
|
1.026
|
0.72%
|
|
DAILY PIVOT POINT
|
|
R3
|
R2
|
R1
|
PIVOT
|
S1
|
S2
|
S3
|
|
146.510
|
145.660
|
144.980
|
144.120
|
143.440
|
142.590
|
141.910
|
XUL (LOCO LONDON GOLD)
The daily technical analysis for gold in the 1-hour period attempts to move upward, touching the resistance level at 1917.70 before heading to the next resistance level at 1922.80. Meanwhile, the bullish bias is supported by a buy signal indicated by a green arrow.
Suggest: Buy 1917.70 TP1 1922.80 TP2 1925.00 SL 1913.00
|
PREVIOUS RANGE
|
|
OPEN
|
HIGH
|
LOW
|
CLOSE
|
PREV.CLOSE
|
CHANGE
|
%CHANGE
|
|
1915.00
|
1929.95
|
1912.62
|
1913.34
|
1914.98
|
-1.64
|
-0.09%
|
|
DAILY PIVOT POINT
|
|
R3
|
R2
|
R1
|
PIVOT
|
S1
|
S2
|
S3
|
|
1940.10
|
1935.00
|
1922.80
|
1917.70
|
1905.50
|
1900.40
|
1888.10
|
CLSK (OIL)
Oil prices in the 1-hour period attempt to move downward, needing to break the support level at 82.12 before heading to the next support level at 81.17. To shift the bias to bullish, oil prices must break the resistance level at 83.06 before heading to the next resistance level at 84.25.
Suggest: Sell 82.12 TP1 81.50 TP2 81.17 SL 82.60
|
PREVIOUS RANGE
|
|
OPEN
|
HIGH
|
LOW
|
CLOSE
|
PREV.CLOSE
|
CHANGE
|
%CHANGE
|
|
84.24
|
84.87
|
82.61
|
82.82
|
84.26
|
-1.44
|
-1.71%
|
|
DAILY PIVOT POINT
|
|
R3
|
R2
|
R1
|
PIVOT
|
S1
|
S2
|
S3
|
|
86.51
|
85.69
|
84.25
|
83.43
|
81.99
|
81.17
|
79.73
|
This concludes the explanation of “Daily Technical Analysis: August 11, 2023 – US Dollar Consolidates.” Also, check out our other articles, such as guides on how to buy cryptocurrency, exclusively at GIC Journal. Don’t forget to enhance your trading skills by obtaining the Ebook Scalping guide and participating in Live Trading at NFP Live Trading. Make sure to download the GIC Mobile Apps from the Google Play Store.
Warning!
This analysis is based on fundamental and technical perspectives from trusted sources and does not constitute advice or solicitation. Always remember that this content aims to enrich the reader's information. Always conduct your own research regarding other forex information to serve as a reference in your trading.
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