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Here is the daily technical analysis for August 9, 2024. The data and analysis provided in this bulletin can be broadly used for your trading. However, it is important to note that GICTrade and the data providers are not responsible for your trading results.
In this report, we will provide forecasts for price movements in Forex and commodities, along with calculations for pivot points, resistance, and support levels.
EURUSD
EUR/USD on the 1-hour chart is currently below the pivot area at 1.09170, attempting to rise toward the first resistance level at 1.09520 and then the second resistance at 1.09810. Meanwhile, the RSI indicator is above the pivot area, suggesting that the euro has the potential to move higher.
Suggest: Buy 1.08890 TP1 1.09200 TP2 1.09500 SL 1.08600
|
PREVIOUS RANGE |
||||||
|
OPEN |
HIGH |
LOW |
CLOSE |
PREV.CLOSE |
CHANGE |
%CHANGE |
|
1.09210 |
1.09452 |
1.08816 |
1.09188 |
1.09235 |
-0.00047 |
-0.04% |
|
DAILY PIVOT POINT |
||||||
|
R3 |
R2 |
R1 |
PIVOT |
S1 |
S2 |
S3 |
|
1.10160 |
1.09810 |
1.09520 |
1.09170 |
1.08890 |
1.08530 |
1.08250 |
XAUUSD
On the 1-hour chart, the price of gold is currently below the first resistance level at 2326.30, attempting to move down toward the pivot area at 2403.60 and then toward the first support level at 2380.90. Meanwhile, the RSI indicator is above the pivot area, indicating that the price of gold may move lower initially before continuing its upward trend.
Suggest: Buy 2403.90 TP1 2413.90 TP2 2423.90 SL 2393.90
|
PREVIOUS RANGE |
||||||
|
OPEN |
HIGH |
LOW |
CLOSE |
PREV.CLOSE |
CHANGE |
%CHANGE |
|
2381.13 |
2426.35 |
2380.93 |
2425.87 |
2383.03 |
42.84 |
1.80% |
|
DAILY PIVOT POINT |
||||||
|
R3 |
R2 |
R1 |
PIVOT |
S1 |
S2 |
S3 |
|
2471.70 |
2449.00 |
2426.30 |
2403.60 |
2380.90 |
2358.20 |
2335.40 |
CLSK (OIL)
