Technical Daily Analysis: July 6, 2023 – Unemployment Trend Rises, Dollar?

The following is a technical daily analysis, July 6, 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

EUR/USD on the 1-hour period tried to move down, touching the support level at 1.08370 until heading to the next support level at 1.07800. The downward trend can also be seen from the FXBot template, where the EUR figure is lower by 2.2 than the USD figure of 4.4. While the bearish bias is also supported by a sell signal indicated by a red arrow.

Suggest: Sell 1.08370 TP1 1.08150 TP2 1.07800 SL 1.08720

GBPUSD

Daily technical analysis for the GBP/USD pair on the 1-hour period tried to move downwards, touching the support level at 1.26840 to the next support level at 1.26370. However, the downward trend has not been confirmed from the FXBot template, where the GBP figure has the same figure as the USD figure of 4.8. While the bearish bias is also supported by a sell signal indicated by a red arrow.

Suggest: Sell 1.26900 TP1 1.26620 TP2 1.26370 SL 1.27150

AUDUSD

AUD/USD on the 1-hour period moved down, trying to touch the support level at 0.66290 until heading towards the next support level at 0.66050. However, the downward trend has not yet been seen from the FXBot template, where the AUD figure is higher by 5.7 than the USD figure of 4.8. While the bearish bias is also supported by a sell signal indicated by a red arrow.

Suggest: Sell 0.66300 TP1 0.66050 TP2 0.65800 SL 0.66500

USDCHF

Daily technical analysis for the USD/CHF pair on the 1-hour period tried to move down, touching the support level at 0.89780 until the next support level at 0.89460. 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 5.2. While the bearish bias is also supported by a sell signal indicated by a red arrow.

Suggest: Sell 0.89780 TP1 0.89600 TP2 0.89460 SL 0.89950

USDJPY

USD/JPY in the 1-hour period tried to move down, touching the support level at 143,830 until heading to the next support level at 143,580. The downward trend can also be seen from the FXBot template, where the JPY figure is higher by 7.5 than the USD figure of 5.1.  While the bearish bias is also supported by a sell signal indicated by a red arrow.

Suggest: Sell 143.830 TP1 143.580 TP2 143.400 SL 144.230

XUL (LOCO LONDON GOLD)

Daily technical analysis for the gold price pair in the 1-hour period tried to move up, touching the resistance level at 1922.70 to the next resistance level at 1930.40. While the bullish bias is also supported by a buy signal indicated by a green arrow.

Suggest: Sell 1920.00 TP1 1915.00 TP2 1910.50 SL 1923.50

CLSK (OIL)

Oil prices in the 1-hour period are trying to move down, needing to pass the support level at 71.43 to reach the next support level at 70.79. Meanwhile, for further bullish bias, oil prices need to cross the resistance level at 72.15 to reach the next resistance level at 73.29.

Suggest: Sell 71.43 TP1 71.00 TP2 70.70 SL 71.80

So, that's the explanation of "Technical Daily Analysis: July 6, 2023 – US Employment Expected to Fall, Dollar Could Correct". 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.