Technical Daily Analysis: April 11, 2023 – The Dollar Gets Excited Again

The following is a daily technical analysis, April 11, 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 trying to rebound needs to cross the resistance level at 1.08878 towards the next resistance level at 1.09095. The upward trend can also be seen from the FXBot template, where the EUR figure is higher by 6.5 than the USD figure of 2.0. Meanwhile, the increase is also supported by a buy signal indicated by a green arrow.

Suggest: Buy 1.08878 TP1 1.09095 TP2 1.09210 SL 1.08668

GBPUSD

GBP/USD on the 1-hour period is trying to rebound, it needs to cross the resistance level at 1.24305 towards the next resistance level at 1.24597. The upward trend can also be seen from the FXBot template, where the GBP figure is higher by 5.1 than the USD figure of 1.8. However, the increase is still quite weak because the GBP figure is still below the 6.0 mark. Meanwhile, the increase is also supported by a buy signal indicated by a green arrow.

Suggest: Buy 1.24305 TP1 1.24597 TP2 1.24940 SL 1.23993

AUDUSD

Daily technical analysis for the AUD/USD pair on the 1-hour period trying to rebound needs to break through the resistance level at 0.66881 towards the next resistance level at 0.67090. The upward trend can also be seen from the FXBot template, where the AUD figure is higher by 8.1 than the USD figure of 1.7. Meanwhile, the increase is also supported by a buy signal indicated by a green arrow.

Suggest: Buy 0.66881 TP1 0.67090 TP2 0.67380 SL 0.66646

USDCHF

USD/CHF on the 1-hour period is trying to move downwards needs to cross the support level at 0.90739 towards the next support level at 0.90552. However, the decline is still quite weak because the USD figure is the same as the CHF which is at 1.8. Meanwhile, the decline was also supported by a sell signal indicated by a red arrow.

Suggest: Sell 0.90739 TP1 0.90552 TP2 0.90356 SL 0.90986

USDJPY

Daily technical analysis for the USD/JPY pair on the 1-hour period trying to move down needs to cross the support level at 133.333 towards the next support level at 132.888. However, the decline is still quite weak because the JPY figure is at 4.6 still below 6.0. Meanwhile, the decline was also supported by a sell signal indicated by a red arrow.

Suggest: Sell 133.333 TP1 132.888 TP2 132.448 SL 133.789

XUL (LOCO LONDON GOLD)

Gold prices in the 1-hour period tried to move up, touching the resistance area of 2002.91 towards the next resistance level at 2006.50. Meanwhile, to change the bias to bearish again, the gold price needs to pass through the support area at 1988.69 which is towards the next support level at 1977.60.

Suggest: Buy 2002.91 TP1 2006.50 TP2 2010.00 SL 1994.00

CLSK (OIL)

Daily technical analysis for oil prices on the 1-hour period moved upwards trying to test the resistance area of 80.94 to the next resistance level at 81.82. Meanwhile, to change the bias to bearish, oil prices need to pass the 79.59 support level to the next support level at 78.60.

Suggest: Buy 80.94 TP1 81.82 TP2 82.44 SL 80.21