Technical Daily Analysis: August 13, 2024 – US Dollar Moves Sideways

The following is the technical daily analysis for August 13, 2024. The data and analysis in this bulletin can be widely used for your trading. However, it is important to note that GICTrade and the data providers are not responsible for your trading results.

Next, we will provide forecasts for price movements in Forex and Commodities, along with calculations for Pivot points, Resistance, and Support levels.

GBPUSD



GBP/USD on the 1-hour period is above the first resistance area at 1.27870, attempting to move higher to the second resistance area at 1.28140 and then to the third resistance area at 1.28340. Meanwhile, the RSI indicator is above the pivot area, indicating that the pound sterling has the potential to move further upward.

Suggest: Buy 1.27870 TP1 1.28140 TP2 1.28340 SL 1.27670

XAUUSD



The price of gold on the 1-hour period is below the first resistance area at 2474.60, attempting to move down toward the pivot area at 2449.20 and then to the first support area at 2426.20. Meanwhile, the RSI indicator is above the pivot area, indicating that the price of gold has the potential to move upward first before a correction.

Suggest: Sell 2474.00 TP1 2469.00 TP2 2459.00 SL 2479.00

CLSK (OIL)




The price of oil on the 1-hour period is above the pivot area at 78.81, with the potential to move higher to the first resistance area at 80.93 and then to the second resistance area at 82.25. Meanwhile, the RSI indicator is above the pivot area, indicating that the price of oil has the potential to move upward first before a correction.

Suggest: Sell 80.50 TP1 80.00 TP2 79.50 SL 81.00