Technical Daily Analysis: February 13, 2023 – US Dollar Appreciates

The following is a technical daily analysis, February 13, 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 in the 4-hour period tends to decline, as seen from the MA50 line which has crossed the MA100 line. It needs to break the 1.06355 area to fall further, to test the strongest daily support of S3 at 1.05770. However, the bias will turn bullish if the 1.07103 level can be crossed towards the next resistance at 1.07500.

GBPUSD

Daily Technical Analysis for the GBP/USD pair on the 1-hour period is still in a downtrend, with the MA50 line crossing the MA100 line indicating a further decline. To continue the bearish bias, it is necessary to break the 1.20043 area first, trying to test the 1.19480 support. Meanwhile, to turn the bias to bullish GBP/USD needs to pass through the resistance of 1.20752 towards the next resistance at 1.213200.

AUDUSD

AUD/USD in the 1-hour period is still moving in a limited range, it needs to break one of the resistance and support levels to see the direction of the next trend. A break of 0.68868 is needed to continue the decline, until the next support at 0.68520. However, if it is able to break through the 0.69480 area, then the bias turns bullish, testing the resistance of 0.69820. While the RSI indicator is in the oversold area, the aussie tends to move to rebound.

USDCHF

The USD/CHF pair on the 1-hour period moved up, as seen from the MA50 line which has crossed the MA100 line, trying to test the resistance of 0.92883 towards the next resistance at 0.93090. However, the bias will turn bearish if it is able to break through the 0.92343 area, to test the 0.91710 support level.

USDJPY

Daily Technical Analysis for the USD/JPY pair on a 1-hour period moves up. It needs to break the 132,485 area to continue the rise to the resistance level at 133,220. However, if USD/JPY manages to cross the 131.575 area, the bias will turn bearish until the 130.430 support area. The potential decline is supported by the RSI indicator which is in the overbought area.

XUL (LOCO LONDON GOLD)

Gold prices in the 4-hour period are still in a downtrend, need to break the 1852.07 area to fall further, to test the 1843.00 support level. The bearish signal is also supported by the MA50 line which has crossed the MA100 line. Meanwhile, to change the bias to bullish, it is necessary to pass through the 1872.10 area first to the next resistance at 1882.00.

CLSK (OIL)

Daily Technical Analysis for oil prices in the 1-hour period is in the consolidation phase, to fall further it is necessary to break the 78.00 area to the support level of 76.36. The decline in oil was supported by the RSI which is already in the overbought area. Meanwhile, for further bulls, it is necessary to cross the 80.00 level, testing the resistance area at 82.04.

So, that's the explanation of "Technical Daily Analysis: February 13, 2023 – US Dollar Appreciates". Also read our other articles, such as an explanation of how to buy cryptocurrencies, only in the GIC Journal. Don't forget to practice your trading skills by getting the Scalping Ebook and following Live Trading on NFP Live Trading. Make sure, download GIC Mobile Apps on the Google Play Store.