Last: 
The following is a technical daily analysis for July 1, 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.
Here, we will provide forecasts for price movements in Forex and Commodities, complete with calculations for Pivot points, Resistance, and Support levels.
GBPUSD
GBP/USD on the 1-hour timeframe is above the first resistance area at 1.26620, attempting to move up to the second resistance area at 1.26850 and then towards the third resistance at 1.27060. Meanwhile, the RSI indicator is above the pivot area, indicating overbought conditions, suggesting that the pound sterling has the potential to move up further before a correction occurs.
Suggest: Sell 1.27000 TP1 1.26800 TP2 1.26600 SL 1.27200
GBPUSD
GBP/USD on the 1-hour timeframe is above the first resistance area at 1.26620, attempting to move up to the second resistance area at 1.26850 and then towards the third resistance at 1.27060. Meanwhile, the RSI indicator is above the pivot area, indicating overbought conditions, suggesting that the pound sterling has the potential to move up further before a correction occurs.
Suggest: Sell 1.27000 TP1 1.26800 TP2 1.26600 SL 1.27200
|
PREVIOUS RANGE |
||||||
|
OPEN |
HIGH |
LOW |
CLOSE |
PREV.CLOSE |
CHANGE |
%CHANGE |
|
1.26390 |
1.26634 |
1.26197 |
1.26421 |
1.26399 |
0.00022 |
0.02% |
|
DAILY PIVOT POINT |
||||||
|
R3 |
R2 |
R1 |
PIVOT |
S1 |
S2 |
S3 |
|
1.27060 |
1.26850 |
1.26620 |
1.26410 |
1.26190 |
1.25970 |
1.25750 |
XAUUSD
The gold price on the 1-hour timeframe is below the pivot area at 2328.00, attempting to move down towards the first support area at 2316.30 and then towards the second support at 2307.30. Meanwhile, the RSI indicator is in the pivot area, indicating that the gold price has the potential to move down further.
Suggest: Sell 2328.00 TP1 2323.00 TP2 2313.00 SL 2333.00
|
PREVIOUS RANGE |
||||||
|
OPEN |
HIGH |
LOW |
CLOSE |
PREV.CLOSE |
CHANGE |
%CHANGE |
|
2328.00 |
2339.73 |
2319.06 |
2325.09 |
2326.10 |
-1.01 |
-0.04% |
|
DAILY PIVOT POINT |
||||||
|
R3 |
R2 |
R1 |
PIVOT |
S1 |
S2 |
S3 |
|
2357.60 |
2348.70 |
2336.90 |
2328.00 |
2316.30 |
2307.30 |
2295.60 |
CLSK (OIL)
The oil price on the 1-hour timeframe is above the pivot area at 81.72, indicating the potential to move up to the first resistance area at 82.48 and then towards the second resistance at 83.45. Meanwhile, the RSI indicator is above the pivot area, suggesting that the oil price has the potential to move up further.
Suggest: Buy 82.00 TP1 82.40 TP2 82.80 SL 81.60
|
PREVIOUS RANGE |
||||||
|
OPEN |
HIGH |
LOW |
CLOSE |
PREV.CLOSE |
CHANGE |
%CHANGE |
|
81.84 |
82.69 |
80.96 |
81.50 |
81.86 |
-0.36 |
-0.44% |
|
DAILY PIVOT POINT |
||||||
|
R3 |
R2 |
R1 |
PIVOT |
S1 |
S2 |
S3 |
|
84.21 |
83.45 |
82.48 |
81.72 |
80.75 |
79.99 |
79.02 |
So, that concludes the explanation of "Technical Daily Analysis: July 1, 2024 – The US Dollar Weakens." Also, read our other articles, such as the guide on how to buy cryptocurrency, only on the GIC Journal. Don’t forget to sharpen your trading skills by getting the Ebook Scalping guide. Make sure to download the GIC Mobile Apps from the Google Play Store.
