Technical Daily Analysis: July 10, 2023 – NFP Falls, US Dollar Falls

The following is a daily technical analysis, July 10, 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 on the 1-hour period tried to move downwards, touching the support level at 1.09400 to the next support level at 1.08730. The downward trend can also be seen from the FXBot template, where the EUR figure is lower by 5.4 than the USD figure of 7.1. While the bearish bias is also supported by a sell signal indicated by a red arrow.

Suggest: Sell 1.09500 TP1 1.09230 TP2 1.08730 SL 1.09800

GBPUSD

GBP/USD on the 1-hour period tried to move down, touching the support level at 1.28000 until heading to the next support level at 1.27250. The downward trend is also confirmed from the FXBot template, where the GBP figure is lower by 4.2 than the USD figure of 7.0. While the bearish bias is also supported by a sell signal indicated by a red arrow.

Suggest: Sell 1.28000 TP1 1.27700 TP2 1.27250 SL 1.28400

AUDUSD

AUD/USD on the 1-hour period tried to move down, touching the support level at 0.66400 until heading towards the next support level at 0.65710. The downward trend can also be seen from the FXBot template, where the AUD figure is lower by 0.0 than the USD figure of 7.1. While the bearish bias is also supported by a sell signal indicated by a red arrow.

Suggest: Sell 0.66400 TP1 0.66120 TP2 0.65710 SL 0.66600

USDCHF

Daily technical analysis for the USD/CHF pair on the 1-hour period tried to move up, touching the resistance level at 0.89220 to the next resistance level at 0.89690. The upward trend can also be seen from the FXBot template, where the CHF figure is lower by 5.1 than the USD figure of 7.0. While the bullish bias is also supported by a buy signal indicated by a green arrow.

Suggest: Buy 0.89220 TP1 0.89500 TP2 0.89690 SL 0.89000

USDJPY

USD/JPY in the 1-hour period tried to move down, touching the support level at 142,010 until heading to the next support level at 141,500. However, the downward trend has not been seen from the FXBot template, where the JPY figure is lower by 7.6 than the USD figure of 7.8. While the bearish bias is also supported by a sell signal indicated by a red arrow.

Suggest: Buy142.100 TP1 142.400 TP2 142.700 SL 141.800

XUL (LOCO LONDON GOLD)

Daily technical analysis for the price of gold on the 1-hour period tried to move down, touching the support level at 1919.70 to the next support level at 1904.80. While the bearish bias is also supported by a sell signal indicated by a red arrow.

Suggest: Sell 1919.70 TP1 1915.00 TP2 1910.00 SL 1925.00

CLSK (OIL)

Oil prices in the 1-hour period are trying to move down, needing to cross the support level at 72.36 to reach the next support level at 71.90. Meanwhile, to continue the bullish bias, oil prices need to pass the resistance level at 73.86 to reach the next resistance level at 74.64.

Suggest: Buy 72.90 TP1 73.40 TP2 73.80 SL 72.50