Here is the daily technical analysis for September 21, 2023. The data and insights in this bulletin can be widely used for your trading. However, please note that GICTrade and the data providers are not responsible for your trading results.
 
Thus, it is your own responsibility. Before reviewing today’s technical analysis, make sure to register for GIC Big Deals, which offers exclusive benefits and various exciting prizes. This event runs for a limited time, from July 10 to December 31, 2023. Don’t miss the welcome bonus promotion of 30% to enhance your trading fund’s resilience.
 
We will provide forecasts for price movements in Forex and Commodities, along with calculations for Pivot Points, Resistance, and Support levels.

 

EURUSD

The EUR/USD pair attempted to move down over the 1-hour period, touching the support level at 1.06250 and heading towards the next support level at 1.05930. The downtrend is also visible in the FXBot template, where the EUR figure is lower at 5.5 compared to the USD figure at 6.7. Meanwhile, the bearish bias is supported by sell signals indicated by a red arrow.

Suggest: Buy 1.06250 TP1 1.06500 TP2 1.06800 SL 1.06000

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

1.06773

1.07349

1.06483

1.06585

1.06773

-0.00188

-0.18%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

1.07980

1.07670

1.07120

1.06800

1.06250

1.05930

1.05390

 

GBPUSD

The GBP/USD pair attempted to move down over the 1-hour period, touching the support level at 1.22800 and heading towards the next support level at 1.22310. The downtrend is also visible in the FXBot template, where the GBP figure is lower at 5.5 compared to the USD figure at 6.7. Meanwhile, the bearish bias is supported by sell signals indicated by a red arrow.

Suggest: Buy 1.23000 TP1 1.23500 TP2 1.23700 SL 1.22700

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

1.23896

1.24196

1.23300

1.23421

1.23896

-0.00475

-0.39%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

1.25000

1.24600

1.24100

1.23700

1.23200

1.22800

1.22310

 

AUDUSD

The technical daily analysis for the AUD/USD pair over the 1-hour period attempted to move down, touching the support level at 0.63900 and heading towards the next support level at 0.63410. The downtrend is also supported by the FXBot template, where the AUD figure is lower at 0.4 compared to the USD figure at 7.0. Meanwhile, the bearish bias is supported by sell signals indicated by a red arrow.

Suggest: Buy 0.64000 TP1 0.64300 TP2 0.64610 SL 0.63750

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

0.64513

0.65093

0.64378

0.64457

0.64513

-0.00056

-0.09%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

0.65560

0.65330

0.64840

0.64610

0.64130

0.63900

0.63410

 

USDCHF

The USD/CHF pair attempted to move up over the 1-hour period, touching the resistance level at 0.90120 and heading towards the next resistance level at 0.90350. The uptrend is also visible in the FXBot template, where the CHF figure is lower at 5.8 compared to the USD figure at 7.1. Meanwhile, the bullish bias is supported by buy signals indicated by a green arrow.

Suggest: Sell 0.90120 TP1 0.89710 TP2 0.89480 SL 0.90400

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

0.89753

0.89936

0.89298

0.89840

0.89753

0.00087

0.10%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

0.90760

0.90350

0.90120

0.89710

0.89480

0.89070

0.88850

 

USDJPY

The USD/JPY pair attempted to move up over the 1-hour period, touching the resistance level at 148.520 and heading towards the next resistance level at 148.880. The uptrend is also supported by the FXBot template, where the JPY figure is lower at 5.8 compared to the USD figure at 7.1. Meanwhile, the bullish bias is supported by buy signals indicated by a green arrow.

Suggest: Sell 148.500 TP1 148.000 TP2 147.640 SL 148.880

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

147.836

148.341

147.456

148.332

147.856

0.476

0.32%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

149.410

148.880

148.520

147.990

147.640

147.110

146.750

 

XUL (LOCO LONDON GOLD)

The price of gold attempted to move down over the 1-hour period, touching the support level at 1921.50 and heading towards the next support level at 1914.90. Meanwhile, the bearish bias is supported by sell signals indicated by a red arrow.

Suggest: Buy 1920.00 TP1 1925.00 TP2 1930.00 SL 1914.90

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

1931.79

1947.29

1927.81

1930.84

1930.92

-0.08

0.00%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

1960.50

1953.90

1941.00

1934.40

1921.50

1914.90

1902.00

 

CLSK (OIL)

The daily technical analysis for oil prices over the 1-hour period attempted to move down, needing to break through the support level at 88.47 to reach the next support level at 87.67. For further bullish bias, the oil price needs to break through the resistance level at 89.75 to reach the next resistance level at 89.50.

Suggest: Sell 89.00 TP1 88.50 TP2 88.00 SL 89.50

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

90.61

91.03

88.95

89.27

90.80

-1.53

-1.69%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

92.63

91.83

90.55

89.75

88.47

87.67

86.39

 

That concludes the explanation for “Daily Technical Analysis: September 21, 2023 – Powell Hawkish, US Dollar Soars.” Also, check out our other articles, such as guides on how to buy cryptocurrency, only on the GIC Journal. Don't forget to sharpen your trading skills by obtaining 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.