Technical Daily Analysis: April 27, 2023 – Dollar Falls

The release of this GDP data represents an annual change in the inflation-adjusted value of all goods and services produced by the economy. Although this is quarterly data, which is released quarterly, about 30 days after the quarter ends. However, it has an impact on high market sentiment because this data is a measure of economic activity and a key measure of economic health. Referring to the data, the US dollar has the potential to move down as the US GDP reading is expected for a decline in growth for a reading of 2.0% from the reading in the previous period of 2.6%. The following is a daily technical analysis, April 27, 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 tried to move further upwards, touching the resistance level at 1.10679 until heading to the next resistance level at 1.10948. 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 3.1. Meanwhile, the bullish trend is also supported by a buy signal indicated by a green arrow.

Suggest: Buy 1.10679 TP1 1.10948 TP2 1.11470 SL 1.10390

GBPUSD

Daily technical analysis for the GBP/USD pair on the 1-hour period is trying to move further upwards, touching the resistance level at 1.24940 to the next resistance level at 1.25610. The upward trend can also be seen from the FXBot template, where the GBP figure is higher by 6.0 than the USD figure of 3.1. While the bullish bias is also supported by a buy signal indicated by a green arrow.

Suggest: Buy 1.24940 TP1 1.25300 TP2 1.25610 SL 1.24500

AUDUSD

AUD/USD in the 1-hour period tried to rebound, touching the resistance level at 0.66179 until heading to the next resistance level at 0.66620. The upward trend can also be seen from the FXBot template, where the AUD figure is higher by 4.0 than the USD figure of 3.2. While the bullishish bias is also supported by a buy signal indicated by a green arrow.

Suggest: Buy 0.66179 TP1 0.66620 TP2 0.66850 SL 0.65900

USDCHF

USD/CHF on the 1-hour period is moving down, needing to break through the support level at 0.88790 to the next support level at 0.88280. However, the downward trend is still weak as seen from the FXBot template, where the USD figure is only slightly higher by 3.2 than the CHF figure of 3.1.

Suggest: Sell 0.88790 TP1 0.88500 TP2 0.88280 SL 0.89020

USDJPY

Daily technical analysis for the USD/JPY pair on the 1-hour period is trying to move up, needing to break through the resistance level at 133.750 and reach the next resistance level at 134.150. However, the uptrend is still quite weak as seen from the FXBot template, where the USD figure is higher by only 3.0 from the JPY figure of 1.3.

Suggest: Buy 133.750 TP1 134.150 TP2 134.510 SL 133.500

XUL (LOCO LONDON GOLD)

Gold prices in the 1-hour period tried to move further up, touching the resistance area of 2005.20 until heading to the next resistance level at 2020.40. The uptrend is also supported by a buy signal indicated by a green arrow.

Suggest: Buy 2005.20 TP1 2010.00 TP2 2020.40 SL 1995.00

CLSK (OIL)

Daily technical analysis for oil prices on the 1-hour period is moving down, trying to test the support area of 73.78 to the next support level at 72.98. Meanwhile, to change the bias to bullish, oil prices need to cross the resistance level of 75.62 to the next resistance level at 76.84.

Suggest: Sell 73.78 TP1 72.98 TP2 72.50 SL 74.50