Technical Analysis: July 13, 2023 – US Inflation Slows, Greenback Collapses

The following is a daily technical analysis, July 13, 2023. 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 days and 3 nights. 

In the following, we will inform you about the forecast of price movements in Forex and Commodities which is equipped with the calculation of Pivot points, Resistance and Support levels. 

EURUSD

EUR/USD is observed moving up, it needs to break the resistance level of 1.12090 to continue bullish or rise until the next resistance at 1.12780. Meanwhile, the RSI and MACD indicators are in the overbought area which indicates a correction or consolidation towards the nearest support at 1.11010 to the next support at 1.10690.

Suggest: Sell 1.11500 TP1 1.11010 TP2 1.10690 SL 1.12090

GBPUSD

Daily technical analysis for the GBP/USD pair is observed to move up, it is necessary to break the resistance level of 1.30510 to continue the bulls or rise until the next resistance at 1.31030. Meanwhile, the RSI and MACD indicators are in the overbought area which indicates a correction or consolidation towards the nearest support at 1.30070 to the next support at 1.29550.

Suggest: Sell 1.30510 TP1 1.30070 TP2 1.29550 SL 1.31030

AUDUSD

AUD/USD is observed moving up, it needs to break the resistance level of 0.68530 to continue bullish or rise until the next resistance at 0.69110. Meanwhile, the RSI and MACD indicators are in the overbought area which indicates a correction or consolidation towards the nearest support at 0.67940 back to the next support at 0.67360.

Suggest: Sell 0.68530 TP1 0.68200 TP2 0.67940 SL 0.68800

USDCHF

USD/CHF is observed to move down, it needs to break the support level of 0.85950 to continue bearish or decline until the next support at 0.85300. Meanwhile, the RSI and MACD indicators are in the oversold area which indicates a rebound or bounce towards the nearest resistance at 0.86660 to the next resistance at 0.87300.

Suggest: Buy 0.86000 TP1 0.86300 TP2 0.86660 SL 0.85700

USDJPY

Daily technical analysis for the USD/JPY pair is observed to move downwards, it is necessary to break the support level of 138,330 again to continue bearish or decline until the next support at 137,140. Meanwhile, the RSI and MACD indicators are in the oversold area which indicates a rebound or bounce towards the nearest resistance at 139,340 to the next resistance at 140,530.

Suggest: Buy 138.330 TP1 138.700 TP2 139.000 SL 138.000

XUL (LOCO LONDON GOLD)

Daily technical analysis for gold prices is observed to move upwards, it is necessary to break the resistance level of 1973.00 to continue bullish or rise until the next resistance at 1986.40. Meanwhile, the RSI and MACD indicators are in the overbought area which indicates a correction or consolidation towards the nearest support at 1945.40 to the next support at 1931.30.

Suggest: Sell 1963.00 TP1 1958.80 TP2 1950.00 SL 1973.00

CLSK (OIL)

Oil prices in the 1-hour period are trying to move up, needing to cross the resistance level at 76.44 to reach the next resistance level at 77.01. Meanwhile, to change the bias to bearish, oil prices need to cross the support level at 75.55 to reach the next support level at 74.98.

Suggest: Sell 76.10 TP1 75.80 TP2 75.55 SL 76.50

Well, that's the explanation of "Technical Daily Analysis: July 13, 2023 – US Inflation Slows Down, Greenback Collapses". 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.

Warning!

This analysis is based on fundamental and technical views from reliable sources, and is not a suggestion or invitation. Always remember that this content aims to enrich the reader's information. Always use independent research first on other forex information to use as a reference in your trading. Get the latest news and articles from other GIC Indonesia, you can check on Google News every day to find out the latest updates about the world of forex to crypto. Also trade on GICTrade using an ECN account to enjoy trading with low spreads starting from zero!