Technical Daily Analysis: July 5, 2023 – The Fed Hawkish, Greenback Bullish

The following is a technical daily analysis, July 5, 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 of the forecast of price movements in Forex and Commodities which is equipped with the calculation of Pivot Point levels, Resistance and Support

EURUSD

EUR/USD on the 1-hour period tried to move down, touching the support level at 1.08740 until the next support level at 1.08350. 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 7.0. While the bearish bias is also supported by a sell signal indicated by a red arrow.

Suggest: Sell 1.08740 TP1 1.08500 TP2 1.08350 SL 1.08950

GBPUSD

The daily technical analysis for the AUD/USD pair on the 1-hour period moved downwards, trying to touch the support level at 0.66770 and towards the next support level at 0.66130. The downward trend can also be seen from the FXBot template, where the AUD figure is lower by 1.7 than the USD figure of 7.5. While the bearish bias is also supported by a sell signal indicated by a red arrow

Suggest: Sell 1.27060 TP1 1.26730 TP2 1.26490 SL 1.27310

AUDUSD

The daily technical analysis for the AUD/USD pair on the 1-hour period moved downwards, trying to touch the support level at 0.66770 and towards the next support level at 0.66130. The downward trend can also be seen from the FXBot template, where the AUD figure is lower by 1.7 than the USD figure of 7.5. While the bearish bias is also supported by a sell signal indicated by a red arrow.

Suggest: Sell 0.66770 TP1 0.66490 TP2 0.66130 SL 0.67130

USDCHF

Daily technical analysis for the USD/CHF pair on the 1-hour period tried to move up, touching the resistance level at 0.89810 to the next resistance level at 0.90100. The upward trend can also be seen from the FXBot template, where the CHF figure is lower by 2.0 than the USD figure of 7.2. While the bullish bias is also supported by a buy signal indicated by a green arrow.

Suggest: Buy 0.89800 TP1 0.90000 TP2 0.90200 SL 0.89600

USDJPY

USD/JPY in the 1-hour period tried to move up, touching the resistance level at 144,500 again to the next resistance level at 144,800. The upward trend can also be seen from the FXBot template, where the JPY figure is lower by 5.6 than the USD figure of 7.5.  While the bullish bias is also supported by a buy signal indicated by a green arrow.

Suggest: Buy 144.500 TP1 144.800 TP2 145.000 SL 144.300

XUL (LOCO LONDON GOLD)

Daily technical analysis for gold prices in the 1-hour period tried to move down, touching the support level at 1923.40 until heading to the next support level at 1911.30. While the bearish bias is also supported by a sell signal indicated by a red arrow.

Suggest: Sell 1923.00 TP1 1918.00 TP2 1911.30 SL 1928.30

CLSK (OIL)

Oil prices in the 1-hour period are trying to move up, needing to cross the resistance level at 71.33 to the next resistance level at 72.23. Meanwhile, for a bearish bias, oil prices need to cross the support level at 70.79 again to the next support level at 70.25.

Suggest: Buy 71.33 TP1 71.70 TP2 72.23 SL 70.80

Well, that's the explanation of "Technical Daily Analysis: July 5, 2023 – The Fed Hawkish, Greenback Bullish". 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.