The following is the technical daily analysis for August 14, 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.

USDJPY



USD/JPY on the 1-hour period is above the first support area at 146.310, attempting to move higher toward the pivot area at 147.130 and then to the first resistance area at 147.670. Meanwhile, the RSI indicator is in the pivot area, indicating that the yen has the potential to move further upward.

Suggest: Buy 146.800 TP1 147.100 TP2 147.600 SL 146.500

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

147.143

147.950

146.595

146.845

147.189

-0.344

-0.23%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

149.020

148.490

147.670

147.130

146.310

145.780

144.960


XAUUSD



The price of gold on the 1-hour period is below the pivot area at 2468.20, attempting to move down toward the first support area at 2459.50 and then to the second support area at 2449.70. Meanwhile, the RSI indicator is below the pivot area, indicating that the price of gold has the potential to move further downward.


Suggest: Sell 2469.00 TP1 2464.00 TP2 2454.00 SL 2474.00

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

2470.91

2476.94

2458.48

2466.47

2471.89

-5.42

-0.22%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

2496.40

2486.70

2477.90

2468.20

2459.50

2449.70

2441.00


CLSK (OIL)



The price of oil on the 1-hour period is below the resistance area at 79.65, with the potential to move down to the pivot area at 78.90 and then to the first support area at 77.69. Meanwhile, the RSI indicator is above the pivot area, indicating that the price of oil has the potential to move further downward.

Suggest: Sell 79.50 TP1 79.00 TP2 78.50 SL 80.00

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

79.69

80.11

78.15

78.43

79.61

-1.18

-1.48%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

81.61

80.86

79.65

78.90

77.69

76.94

75.73

 


Well, that’s the explanation of "Technical Daily Analysis: August 14, 2024 – Ahead of CPI, Gold Corrects." Also, be sure to read our other articles, such as the explanation on how to buy cryptocurrency, available only at GIC Journal. Don’t forget to enhance your trading skills by getting the Scalping Ebook guide. Make sure to download the GIC Mobile Apps on the Google Play Store.