Technical Daily Analysis: April 26, 2023 – The Dollar Shines Again

The following is a technical daily analysis, April 26, 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

Daily technical analysis for the EUR/USD pair on the 1-hour period is still in a downtrend, trying to touch the support level at 1.096500 until the next support level at 1.09090. However, the downward trend is still weak, as seen from the FXBot template, where the USD figure is still below the EUR figure of 5.8 from the USD figure of 5.7. While the bearish trend is also supported by sell signals indicated by red arrows.

Suggest: Sell 1.096500 TP1 1.09200 TP2 1.09090 SL 1.10000

GBPUSD

GBP/USD in the 1-hour period tried to rebound to touch the resistance level at 1.24244 until the next resistance level at 1.24570. The upward trend can also be seen from the FXBot template, where the GBP figure is higher by 6.7 than the USD figure of 5.1. While the bullish bias is also supported by a buy signal indicated by a green arrow.

Suggest: Buy 1.24244 TP1 1.24570 TP2 1.25060 SL 1.23860

AUDUSD

AUD/USD on the 1-hour period fell further, trying to touch the support level at 0.65750 until heading towards the next support level at 0.67778. The downward trend can also be seen from the FXBot template, where the AUD figure is lower by 1.2 than the USD figure of 4.8. While the bearish bias is also supported by a sell signal indicated by a red arrow.

Suggest: Sell 0.65750 TP1 0.65350 TP2 0.65240 SL 0.66000

USDCHF

Daily technical analysis for the USD/CHF pair on the 1-hour period is trying to move down, needing to break through the support level at 0.88920 and towards the next support level at 0.88630. However, the downward trend is still weak as seen from the FXBot template, where the CHF figure is only slightly higher at 4.8 than the USD figure of 4.7. Meanwhile, the decline was also supported by a sell signal indicated by a red arrow.

Suggest: Sell 0.88920 TP1 0.88630 TP2 0.88280 SL 0.89300

USDJPY

USD/JPY on the 1-hour period is trying to move down, for further bearish bias it needs to break through the support level at 134,130 to reach the next support level at 133,400. However, the downward trend is still quite weak as seen from the FXBot template, where the USD figure is lower by only 5.1 from the JPY figure of 6.5. While the bearish bias is also supported by a sell signal indicated by a red arrow.

Suggest: Sell 133.400 TP1 133.000 TP2 132.840 SL 133.700

XUL (LOCO LONDON GOLD)

Gold prices in the 1-hour period tried to move down, touching the support area of 1991.10 until reaching the next support level at 1978.60. The downtrend is also supported by sell signals indicated by red arrows.

Suggest: Sell 1991.10 TP1 1985.00 TP2 1978.60 SL 2000.00

CLSK (OIL)

Daily technical analysis for oil prices on the 1-hour period rebounded trying to test the resistance area of 77.96 to the next resistance level at 78.60. Meanwhile, for further bearish bias, oil prices need to cross the 76.50 support level towards the next support level at 75.01.

Suggest: Buy 77.96 TP1 78.60 TP2 79.00 SL 77.50