Here's the daily technical analysis for September 6, 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. 
 
Therefore, that responsibility lies with you. Before reviewing today’s technical analysis, make sure to register for the GIC Gebyar Hadiah event for a chance to win grand prizes such as a Rubicon, a Mercedes Benz, or a 3-day, 2-night vacation package to Labuan Bajo.
 
We will now provide forecasts for price movements in Forex and Commodities, including calculations for pivot points, resistance, and support.

 

EURUSD

The technical analysis for the EUR/USD pair in the 1-hour period indicates an upward movement, reaching the resistance level at 1.07540 and heading towards the next resistance level at 1.08040. The uptrend is also evident from the FXBot template, where the EUR value is higher at 7.1 compared to the USD at 1.4. Meanwhile, the bullish bias is supported by a buy signal indicated by a green arrow.

Suggest: Buy 1.07300 TP1 1.07540 TP2 1.07800 SL 1.07110

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

1.07948

1.07966

1.07045

1.07202

1.07948

-0.00746

-0.69%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

1.08960

1.08460

1.08040

1.07540

1.07110

1.06620

1.06190

 

GBPUSD

GBP/USD in the 1-hour period shows an attempt to move upwards, reaching the resistance level at 1.25860 and moving towards the next resistance at 1.26460. The uptrend is also evident from the FXBot template, where the GBP value is higher at 4.7 compared to the USD at 1.4. The bullish bias is further supported by a buy signal indicated by a green arrow.

Suggest: Buy 1.25650 TP1 1.25860 TP2 1.6200 SL 1.25450

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

1.26226

1.26299

1.25263

1.25639

1.26269

-0.00630

-0.50%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

1.27490

1.26900

1.26460

1.25860

1.25420

1.24820

1.24380

 

AUDUSD

The technical analysis for the AUD/USD pair in the 1-hour period indicates an upward movement, reaching the resistance level at 0.64130 and heading towards the next resistance level at 0.64700. The uptrend is also evident from the FXBot template, where the AUD value is higher at 6.2 compared to the USD at 1.2. The bullish bias is supported by a buy signal indicated by a green arrow.

Suggest: Buy 0.63900 TP1 0.64130 TP2 0.64400 SL 0.63630

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

0.64589

0.64627

0.63556

0.63761

0.64589

-0.00828

-1.29%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

0.65780

0.65200

0.64700

0.64130

0.63630

0.63060

0.62560

 

USDCHF

The USD/CHF pair in the 1-hour period shows a downward movement, reaching the support level at 0.88670 and heading towards the next support at 0.88330. The downtrend is also evident from the FXBot template, where the CHF value is higher at 4.3 compared to the USD at 1.2. The bearish bias is supported by a sell signal indicated by a red arrow.

Suggest: Sell 0.88900 TP1 0.88670 TP2 0.88400 SL 0.89100

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

0.88395

0.89011

0.88340

0.88922

0.88419

0.00503

0.57%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

0.89670

0.89340

0.89000

0.88670

0.88330

0.88000

0.87660

 

USDJPY

The technical analysis for the USD/JPY pair in the 1-hour period indicates a downward movement, reaching the support level at 147.070 and heading towards the next support level at 146.360. The downtrend is also supported by the FXBot template, where the JPY value is higher at 5.5 compared to the USD at 1.0. The bearish bias is supported by a sell signal indicated by a red arrow.

Suggest: Sell 147.300 TP1 147.070 TP2 146.700 SL 147.600

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

146.453

147.782

146.333

147.704

146.467

1.237

0.85%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

149.260

148.520

147.810

147.070

146.360

145.620

144.910

  

XUL (LOCO LONDON GOLD)

The price of gold in the 1-hour period shows a downward movement, reaching the support level at 1924.60 and heading towards the next support at 1918.10. The bearish bias is supported by a sell signal indicated by a red arrow.

Suggest: Sell 1924.60 TP1 1918.10 TP2 1911.00 SL 1931.70

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

1937.53

1938.81

1925.23

1925.40

1938.35

-12.95

-0.67%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

1951.80

1945.30

1938.20

1931.70

1924.60

1918.10

1911.00

 

CLSK (OIL)

The price of oil in the 1-hour period shows a downward movement, needing to break through the support level at 86.36 to reach the next support level at 85.50. Meanwhile, for a further bullish bias, the oil price needs to break through the resistance level at 87.01 to move towards the next resistance level at 88.11.

Suggest: Sell 86.36 TP1 85.90 TP2 85.50 SL 86.80

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

85.94

88.00

85.01

86.67

85.96

0.71

0.83%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

91.10

89.55

88.11

86.56

85.12

83.57

82.13

 

This concludes the explanation of "Daily Technical Analysis: September 6, 2023 – The US Dollar Corrects." Also, check out our other articles, such as the guide on how to buy cryptocurrency, exclusively in the GIC Journal. Don’t forget to sharpen your trading skills by getting the Ebook Scalping guide and participating in Live Trading at NFP Live Trading. Be sure to download the GIC Mobile App from the Google Play Store.