Here is the technical daily analysis for February 22, 2024. The data and analysis provided in this bulletin can be broadly used for your trading. However, it is important to note that GICTrade and the data providers are not responsible for your trading results.
 
We will now inform you of the price movement forecasts in Forex and Commodities, complete with Pivot Point levels, Resistance, and Support calculations.

 

EURUSD

EUR/USD on the 4-hour period is above the first resistance area of 1.08300, attempting to rise towards the second resistance area at 1.08440 and then the third resistance at 1.08640. Meanwhile, the RSI indicator is above the pivot area, suggesting that the euro has the potential to move up before moving down.

Suggest: Buy 1.08100 TP1 1.08300 TP2 1.08640 SL 1.07900

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

1.08048

1.08244

1.07900

1.08196

1.08078

0.00118

0.11%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

1.08640

1.08440

1.08300

1.08100

1.07960

1.07760

1.07610

 

GBPUSD


GBP/USD on the 4-hour period is above the pivot area of 1.26250, attempting to rise to the first resistance area at 1.26470 and then the second resistance at 1.26640. Meanwhile, the RSI indicator is above the pivot area, indicating that the pound sterling has the potential to move up before it moves down.

Suggest: Buy 1.26250 TP1 1.26470 TP2 1.26640 SL 1.26080

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

1.26163

1.26419

1.26026

1.26378

1.26220

0.00158

0.13%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

1.26870

1.26640

1.26470

1.26250

1.26080

1.25860

1.25690

 

AUDUSD

AUD/USD on the 4-hour period is above the pivot area of 0.65510, attempting to rise to the first resistance area at 0.65690 and then the second resistance at 0.65910. Meanwhile, the RSI indicator is above the pivot area, suggesting that the Aussie currency has the potential to move up before it moves down.

Suggest: Buy 0.65510 TP1 0.65690 TP2 0.65910 SL 0.65290

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

0.65457

0.65733

0.65332

0.65519

0.65488

0.00031

0.05%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

0.66090

0.65910

0.65690

0.65510

0.65290

0.65110

0.64890

 

USDCHF

USD/CHF on the 4-hour period is below the first support area of 0.87870, attempting to move down to the second support area at 0.87720 and then the third support at 0.87550. Meanwhile, the RSI indicator is below the pivot area, indicating that the Swiss franc has the potential to move down before it moves up.

Suggest: Sell 0.87870 TP1 0.87720 TP2 0.87550 SL 0.88040

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

0.88110

0.88206

0.87886

0.87956

0.88190

-0.00234

-0.27%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

0.88510

0.88360

0.88190

0.88040

0.87870

0.87720

0.87550

 

USDJPY

USD/JPY on the 4-hour period is below the first resistance area of 150.350, attempting to move down to the pivot area of 150.100 and then the first support at 149.810. Meanwhile, the RSI indicator is at the pivot area, suggesting that the yen has the potential to move up before it moves down.

Suggest: Sell 150.350 TP1 150.100 TP2 149.810 SL 150.640

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

149.880

150.392

149.855

150.284

149.992

0.292

0.19%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

150.880

150.640

150.350

150.100

149.810

149.560

149.270

 

XUL (LOCO LONDON GOLD)

Gold prices on the 4-hour period are above the pivot area of 2025.20, attempting to rise towards the first resistance area at 2030.30 and then the second resistance at 2037.40. Meanwhile, the RSI indicator is above the pivot area, suggesting that gold prices have the potential to rise further.

Suggest: Buy 2025.20 TP1 2030.30 TP2 2037.40 SL 2018.20

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

2024.10

2032.25

2020.06

2024.25

2024.43

-0.18

-0.01%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

2042.50

2037.40

2030.30

2025.20

2018.20

2013.00

2006.00

 

CLSK (OIL)

Oil prices on the 4-hour period are above the pivot area of 77.45, with potential to rise to the first resistance area at 78.59 and then the second resistance at 79.20. Meanwhile, the RSI indicator is above the pivot area, suggesting that oil prices have the potential to rise further.

Suggest: Buy 78.00 TP1 78.59 TP2 79.20 SL 77.45

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

77.12

78.06

76.31

77.99

77.12

0.87

1.13%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

80.34

79.20

78.59

77.45

76.84

75.70

75.09
That concludes the explanation of "Technical Daily Analysis: February 22, 2024 - U.S. Dollar Continues to Decline." Also, read our other articles, such as how to buy cryptocurrency, only on Jurnal GIC. Don’t forget to enhance your trading skills by obtaining the Ebook Scalping guide and participating in Live Trading during NFP Live Trading. Be sure to download the GIC Mobile App from the Google Play Store.