The following is a technical daily analysis for July 2, 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.

EURUSD



EUR/USD on the 1-hour timeframe is below the pivot area at 1.07440, attempting to move down to the first support area at 1.07120 and then towards the second support at 1.06870. Meanwhile, the RSI indicator is below the pivot area, indicating that the euro has the potential to move down further.

Suggest: Sell 1.07400 TP1 1.07100 TP2 1.06900 SL 1.07600

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

1.07393

1.07765

1.07197

1.07400

1.07102

0.00298

0.28%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

1.08250

1.08010

1.07680

1.07440

1.07120

1.06870

1.06550


XAUUSD



The gold price on the 1-hour timeframe is below the first resistance area at 2339.50, attempting to move down towards the first support area at 2319.50 and then towards the second support at 2309.00. Meanwhile, the RSI indicator is in the pivot area, indicating that the gold price has the potential to move down.

Suggest: Sell 2332.00 TP1 2327.00 TP2 2320.00 SL 2337.00

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

2327.18

2338.51

2318.53

2331.63

2325.09

6.54

0.28%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

2359.50

2349.00

2339.50

2329.00

2319.50

2309.00

2299.50


CLSK (OIL)



The oil price on the 1-hour timeframe is above the pivot area at 82.78, indicating the potential to move up to the first resistance area at 84.18 and then towards the second resistance at 84.99. Meanwhile, the RSI indicator is above the pivot area, indicating overbought conditions, suggesting that the oil price has the potential to move down or undergo a correction.

Suggest: Sell 83.50 TP1 83.00 TP2 82.50 SL 84.00

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

81.43

83.59

81.38

83.37

81.50

1.87

2.29%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

86.39

84.99

84.18

82.78

81.97

80.57

  79.76


So, that concludes the explanation of "Technical Daily Analysis: July 2, 2024 – The US Dollar is Quite Stable." 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.