Technical Daily Analysis: 5 June, 2023 – US Service Sector Rise, Dollar May Soar

The following is a technical daily analysis, June 5, 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 on the 1-hour period moved further down, trying to touch the support level at 1.06630 and heading towards the next support level at 1.06220. The downward trend can also be seen from the FXBot template, where the EUR figure is lower by 4.5 than the USD figure of 6.4. While the bearish bias is also supported by a sell signal indicated by a red arrow.

Suggest: Sell 1.06800 TP1 1.06630 TP2 1.06220 SL 1.06960

GBPUSD

The daily technical analysis for the GBP/USD pair on the 1-hour period is moving downwards, trying to touch the support level at 1.23870 and heading towards the next support level at 1.23330. The downward trend can also be seen from the FXBot template, where the GBP figure is lower by 0.4 from the USD figure of 6.4. While the bearish bias is also supported by a sell signal indicated by a red arrow.

Suggest: Sell 1.23870 TP1 1.23600 TP2 1.23330 SL 1.24200

AUDUSD

AUD/USD on the 1-hour period moved down, trying to touch the support level at 0.65920 until the next support level at 0.65460. The downward trend can also be seen from the FXBot template, where the AUD figure is lower by 3.7 from the USD figure of 6.1. While the bearish bias is also supported by a sell signal indicated by a red arrow.

Suggest: Sell 0.65920 TP1 0.65460 TP2 0.65140 SL 0.66240

USDCHF

Daily technical analysis for the USD/CHF pair on the 1-hour period moved further upwards, trying to touch the resistance level at 0.91240 and towards the next resistance level at 0.91570. However, the upward trend is not visible from the FXBot template, where the CHF figure is higher by 7.3 than the USD figure of 6.4. While the bullish bias is also supported by a buy signal indicated by a green arrow.

Suggest: Buy 0.91240 TP1 0.91570 TP2 0.91750 SL 0.91000

USDJPY

USD/JPY on the 1-hour period moved up, trying to touch the resistance level at 140,500 until heading to the next resistance level at 140,810. The upward trend can also be seen from the FXBot template, where the JPY figure is lower by 2.0 than the USD figure of 6.5. While the bullish bias is also supported by a buy signal indicated by a green arrow.

Suggest: Buy 140.500 TP1 140.810 TP2 141.000 SL 140.100

XUL (LOCO LONDON GOLD)

Gold prices in the 1-hour period moved further down, trying to touch the support area at 1940.00 until heading towards the next support level at 1928.80. Meanwhile, from the FXBot template, a bearish trend can be seen supported by a sell signal indicated by a red arrow.

Suggest: Sell 1945.00 TP1 1940.00 TP2 1930.00 SL 1950.00

CLSK (OIL)

Daily technical analysis for oil prices on the 1-hour period moved further up, trying to break through the resistance area at 73.37 again to the next resistance level at 74.85. Meanwhile, to change the bias to bearish, oil prices need to cross the support level at 72.12 to reach the next resistance level at 71.34.

Suggest: Buy 73.37 TP1 74.00 TP2 74.85 SL 72.69