Technical Daily Analysis: February 15, 2023 – Greenback Sideways

The following is a daily technical analysis, February 15, 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 EUR/USD in the 4-hour period is still moving in a limited zone or sideways, it is necessary to break one of the resistance support levels to determine the next directional movement. If EUR/USD manages to break through the 1.06686 area then the bearish bias will continue until the 1.05820 support. Further declines are also supported by the MA50 line which has crossed the MA100 line. However, if it crosses the 1.07898 area then the bias will turn bullish, trying to test the resistance level of 1.08380.

GBPUSD

GBP/USD in the 4-hour period moved upwards as seen from the lower high (LH). Further bullish, it is necessary to break the 1.21935 level towards the first resistance target at 1.22310. Meanwhile, to turn the bias bearish, it is necessary to break the 1.21170 area first, testing the 1.20800 support level.

AUDUSD

AUD/USD in the 4-hour period moved upwards as seen from the higher low price (Lower High/LH). Further bullish, it is necessary to break the level of 0.70125 towards the second resistance target at 0.70820. Meanwhile, to change the bias to bearish, it is necessary to break the 0.68925 area first, testing the daily support level at 0.68680 to 0.68150.

USDCHF

Daily Technical Analysis for the USD/CHF pair in the 4-hour period is still moving in a limited zone or sideways, it is necessary to break one of the support resistance levels to determine the next directional movement. If it manages to cross the 0.91575 area then the bearish bias will continue until the 0.90980 support. However, if it crosses the 0.92870 area then the bias will turn bullish, trying to test the 0.93500 resistance level.

USDJPY

USD/JPY in the 4-hour period moved up, which was seen from the rising lows. It needs to break the 133,325 area to continue the rise until it reaches the resistance level at 134,370. However, if USD/JPY manages to break through the 131,500 area, the bias will turn bearish towards the 130,770 support area.

XUL (LOCO LONDON GOLD)

Daily Technical Analysis for gold prices in the 4-hour period has the potential to fall further, which is indicated by the MA50 line which has crossed the MA100 line. Further bearish, it is necessary to cross the 1843.00 area first to test the 1828.30 support level. Meanwhile, to change the bias to bullish, gold needs to break the 1870.50 area towards the next resistance level at 1882.30.

CLSK (OIL)

Oil prices in the 4-hour period are in a consolidation phase, to fall further it is necessary to break the 77.50 area to the 76.59 support level. The decline in oil prices is also confirmed by the RSI indicator which is already in the overbought area. Meanwhile, for further bulls, it is necessary to pass the 79.60 level, to test the resistance level at 80.85.

So, that's the explanation of "Technical Daily Analysis: February 15, 2023 – Greenback Moves Sideways". 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.