Technical Daily Analysis: April 4, 2023 – Risk Appetite Versus Safe Haven

The following is a technical daily analysis, April 4, 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 upwards touching the resistance area of 1.09158 towards the next resistance level at 1.09890. As for the bearish bias, EUR/USD needs to break through the support area at 1.08703 towards the next support level at 1.08060.

Suggest : Sell 1.08703 TP1 1.08350 TP2 1.08060 SL 1.09000

GBPUSD

Daily technical analysis for the GBP/USD pair on the 1-hour period tried to move upwards, touching the resistance area of 1.24251 towards the next resistance level at 1.25080. As for the bearish bias, GBP/USD needs to break through the support area at 1.23609 towards the next support level at 1.22950.

Suggest : Buy 1.24251 TP1 1.24500 TP2 1.25080 SL 1.23800

AUDUSD

AUD/USD on the 1-hour period tried to move down, testing the 0.67370 support area until heading to the next support level at 0.66650. As for further bullish bias, AUD/USD needs to break through the resistance area at 0.67919 towards the next resistance level at 0.68660.

Suggest : Sell 0.67370 TP1 0.67000 TP2 0.66650 SL 0.67800

USDCHF

USD/CHF on the 1-hour period tried to move down, touching the 0.91143 support area towards the next resistance level at 0.90630. Meanwhile, for the bullish bias, USD/CHF needs to break through the resistance area at 0.91543 to the next resistance level at 0.92250.

Suggest : Sell 0.91143 TP1 0.90800 TP2 0.90630 SL 0.91440

USDJPY

USD/JPY on the 1-hour period moved further up, trying to touch the resistance area of 133,251 towards the next resistance level at 133,660. Meanwhile, to turn the bias bearish, USD/JPY needs to break through the support area at 132.184 towards the next support level at 131.380.

Suggest : Buy 133.251 TP1 133.660 TP2 134.000 SL 132.930

XUL (LOCO LONDON GOLD)

Gold prices in the 1-hour period tried to move upwards touching the 1985.06 resistance area towards the next resistance level at 1996.40. Meanwhile, to change the bias to bearish, the gold price needs to pass through the support area at 1974.77 to the next support level at 1955.70.

Suggest : Sell 1974.77 TP1 1968.00 TP2 1965.00 SL 1980.00

CLSK (OIL)

Daily technical analysis for oil prices on the 1-hour period is moving upwards trying to test the resistance area of 81.70 towards the next resistance level at 83.06. Meanwhile, to change the bias to bearish, oil prices need to cross the 79.58 support level to the next support level at 77.74.

Suggest : Sell 79.58 TP1 79.00 TP2 78.50 SL 80.00