Technical Daily Analysis: February 14, 2023 – Greenback Corrected

The following is a technical daily analysis, February 14, 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

Daily Technical Analysis for the EUR/USD pair in the 30-minute period is trying to move upwards, which can be seen from the MA25 line crossing the MA50 line. It needs to break the 1.07524 area to rise further, to test the strongest daily resistance of R3 at 1.08130. However, the bias will turn bearish if the 1.07082 level can be crossed to the next support at 1.06230. The euro correction is also confirmed by the RSI indicator which is already in the overbought area.

GBPUSD

Technical Daily Analysis for the GBP/USD pair on the 1-hour period moved up after the MA25 line crossed the MA100 line. For an uptrend, the pound needs to cross the 1.21913 area first, heading towards the next daily resistance target at 1.22850. While the RSI indicator is already in the overbought area, there is a potential correction, if it is able to break the 1.20897 area, then the decline will occur until the next support at 1.19760.

AUDUSD

AUD/USD in the 30-minute period tends to move down after the RSI indicator is in the overbought area. It needs a break of the 0.69272 area to fall further until the next support at 0.68520. However, the bias will turn bullish again, if resistance 0.69724 is crossed to test the strongest daily resistance at 0.70640.

USDCHF

The USD/CHF pair in the 1-hour period moved down, as seen from the MA25 line which has crossed the MA100 line, trying to test the 0.91594 support towards the next support at 0.91070. However, the bias will turn bullish if it is able to break through the 0.92177 area, to test the 0.92860 resistance level.

USDJPY

USD/JPY in the 1-hour period moved down. It needs to break the 131,534 area to continue the decline towards the support level at 130,960. However, if USD/JPY manages to cross the 132,450 area, the bias will turn bullish until it reaches the 133,640 resistance area. The potential decline is supported by the RSI indicator which is in the overbought area.

XUL (LOCO LONDON GOLD)

Daily Technical Analysis for gold prices in the 30-minute period tried to rebound, testing the area of 1862.86 to the resistance of 1874.60. Gold's rebound is supported by the RSI indicator which is already in the oversold area and moving upwards. However, to continue the bearish trend, gold needs a break of 1850.32 which is a psychological support, testing the 1842.40 support level.

CLSK (OIL)

Oil prices in the 1-hour period are in a consolidation phase, to fall further need to break the 78.41 area to the 77.24 support level. Meanwhile, for further bulls, it is necessary to cross the level of 79.97, testing the resistance area at 81.56.

So, that's the explanation of "Technical Daily Analysis: February 14, 2023 – Greenback Corrects". 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.