Technical Analysis: June 19, 2023 – US Dollar Has Potential to Rebound, Why?

The following is a technical daily analysis, June 19, 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 of the forecast of price movements in Forex and Commodities which is equipped with the calculation of Pivot Point levels, Resistance and Support.

EURUSD

EUR/USD on the 1-hour period moved further up, trying to touch the resistance level at 1.09420 again to the next resistance level at 1.09670. The uptrend is not yet supported if seen from the FXBot template, where the EUR figure is slightly lower by 1.8 from the USD figure of 4.2. While the bullish bias is also supported by a buy signal indicated by a green arrow.

Suggest: Buy 1.09420 TP1 1.09670 TP2 1.09950 SL 1.09140

GBPUSD

GBP/USD on the 1-hour period tried to move upwards touching the resistance level at 1.28420 until heading towards the next resistance level at 1.28850. The upward trend is not supported if it is seen from the FXBot template, where the GBP figure is lower by 3.5 than the USD figure of 4.0. While the bullish bias is also supported by a buy signal indicated by a green arrow.

Suggest: Buy 1.28420 TP1 1.28650 TP2 1.28850 SL 1.28200

AUDUSD

Daily technical analysis for the AUD/USD pair on the 1-hour period tried to move upwards, touching the resistance level at 0.68770 to the next resistance level at 0.69000. The upward trend can also be seen from the FXBot template, where the AUD figure is higher by 5.1 than the USD figure of 3.7. While the bullish bias is also supported by a buy signal indicated by a green arrow.

Suggest: Buy 0.68550 TP1 0.68770 TP2 0.69000 SL 0.69600

USDCHF

USD/CHF on the 1-hour period moved further down, trying to touch the support level at 0.89270 again until the next support level at 0.88800. The downward trend can also be seen from the FXBot template, where the CHF figure is higher by 5.8 than the USD figure of 3.4. While the bearish bias is also supported by a sell signal indicated by a red arrow.

Suggest: Sell 0.89270 TP1 0.89060 TP2 0.88800 SL 0.89530

USDJPY

USD/JPY in the 1-hour period tried to move down, touching the support level at 141,450 until heading to the next support level at 140,970. The downward trend can also be seen from the FXBot template, where the JPY figure is higher by 4.6 than the USD figure of 3.2. While the bearish bias is also supported by a sell signal indicated by a red arrow.

Suggest: Sell 141.450 TP1 141.200 TP2 140.970 SL 141.700

XUL (LOCO LONDON GOLD)

Daily technical analysis for gold prices on the 1-hour period moved further up, trying to touch the resistance area at 1958.70 and towards the next resistance level at 1964.20. While the bullish bias is also supported by a buy signal indicated by a green arrow.

Suggest: Sell 1953.00 TP1 1949.70 TP2 1944.20 SL 1958.70

CLSK (OIL)

Oil prices in the 1-hour period are trying to move up, needing to cross the resistance area at 71.67 to reach the next resistance level at 72.37. Meanwhile, to change the bias to bearish, oil prices need to pass the support level at 70.16 to reach the next support level at 69.23.

Suggest: Buy 71.67 TP1 72.00 TP2 72.37 SL 71.15