Technical Daily Analysis: July 18, 2023 – Dollar Predicted to Soar

The following is a technical daily analysis, July 18, 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 upwards, touching the resistance level at 1.12570 to the next resistance level at 1.13030. The upward trend can also be seen from the FXBot template, where the EUR figure is higher by 5.5 than the USD figure of 1.0. While the bullish bias is also supported by a buy signal indicated by a green arrow.

Suggest: Buy 1.12570 TP1 1.12850 TP2 1.13030 SL 1.12300

GBPUSD

GBP/USD on the 1-hour period tried to move up, touching the resistance level at 1.31100 and heading towards the next resistance level at 1.31670. The upward trend is also confirmed from the FXBot template, where the GBP figure is higher by 5.4 than the USD figure of 0.8. While the bullish bias is also supported by a buy signal indicated by a green arrow.

Suggest: Buy 1.31100 TP1 1.31380 TP2 1.31670 SL 1.30800

AUDUSD

Daily technical analysis for the AUD/USD pair on the 1-hour period tried to move up, touching the resistance level at 0.68550 to the next resistance level at 0.69100. The upward trend can also be seen from the FXBot template, where the AUD figure is higher by 6.2 than the USD figure which is 0.8. While the bullish bias is also supported by a buy signal indicated by a green arrow.

Suggest: Buy 0.68550 TP1 0.68760 TP2 0.69100 SL 0.68210

USDCHF

USD/CHF on the 1-hour period tried to move down, touching the support level at 0.85740 until heading towards the next support level at 0.85220. The downward trend can also be seen from the FXBot template, where the CHF figure is higher by 5.3 than the USD figure of 0.8. While the bearish bias is also supported by a sell signal indicated by a red arrow.

Suggest: Sell 0.85740 TP1 0.85490 TP2 0.85220 SL 0.86020

USDJPY

USD/JPY in the 1-hour period tried to move down, touching the support level at 138,500 until heading to the next support level at 137,960. The downward trend can also be seen from the FXBot template, where the JPY figure is higher by 3.8 than the USD figure of 0.8.  While the bearish bias is also supported by a sell signal indicated by a red arrow.

Suggest: Sell 138.500 TP1 138.250 TP2 137.960 SL 138.800

XUL (LOCO LONDON GOLD)

Daily technical analysis for gold prices in the 1-hour period tried to move up, touching the resistance level at 1961.40 to the next resistance level at 1967.60. While the bullish bias is also supported by a buy signal indicated by a green arrow.

Suggest: Sell 1960.50 TP1 1955.00 TP2 1945.00 SL 1965.00

CLSK (OIL)

Oil prices in the 1-hour period are trying to move down, needing to pass the support level at 73.81 to reach the next support level at 73.28. Meanwhile, to change the bias to bullish, the oil price needs to pass the resistance level at 75.00 to reach the next resistance level at 75.51.

Suggest: Sell 73.81 TP1 73.40 TP2 73.00 SL 74.30

Well, that's the explanation of "Technical Daily Analysis: July 18, 2023 – US Retail Sales Expected to Rise, Dollar Could Soar". 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.