Technical Daily Analysis: June 6, 2023 – The Dollar Is Sinking, Here's Why

The following is a technical daily analysis, June 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

Daily technical analysis for the EUR/USD pair on the 1-hour period tried to move up, touching the resistance level at 1.07340 and heading to the next resistance level at 1.07820. The upward trend can also be seen from the FXBot template, where the EUR figure is higher by 4.4 than the USD figure of 2.5.

Suggest: Buy 1.07340 TP1 1.07520 TP2 1.07820 SL 1.07040

GBPUSD

GBP/USD on the 1-hour period tried to move upwards touching the resistance level at 1.24780 until the next resistance level at 1.25030. The upward trend can also be seen from the FXBot template, where the GBP figure is higher by 6.1 from the USD figure of 2.7. While the bullish bias is also supported by a buy signal indicated by a green arrow.

Suggest: Buy 1.24780 TP1 1.25030 TP2 1.25580 SL 1.24500

AUDUSD

AUD/USD on the 1-hour period tried to move up, touching the resistance level at 0.66660 until heading to the next resistance level at 0.66950. The upward trend can also be seen from the FXBot template, where the AUD figure is higher by 6.0 than the USD figure of 2.7. While the bullish bias is also supported by a buy signal indicated by a green arrow.

Suggest: Buy 0.66660 TP1 0.66950 TP2 0.67200 SL 0.66370

USDCHF

Daily technical analysis for the USD/CHF pair on the 1-hour period tried to move downwards, touching the support level at 0.90310 to the next support level at 0.90080. The downward trend can also be seen from the FXBot template, where the CHF figure is higher by 3.5 than the USD figure of 2.4. While the bearish bias is also supported by a sell signal indicated by a red arrow.

Suggest: Sell 0.90310 TP1 0.90080 TP2 0.89640 SL 0.90700

USDJPY

USD/JPY on the 1-hour period moved up, trying to touch the resistance level at 139,600 until the next resistance level at 140,360. The upward trend can also be seen from the FXBot template, where the JPY figure is lower by 1.0 than the USD figure of 2.5. While the bullish bias is also supported by a buy signal indicated by a green arrow.

Suggest: Buy 139.600 TP1 140.000 TP2 140.360 SL 139.300

XUL (LOCO LONDON GOLD)

Gold prices in the 1-hour period tried to move down, touching the support area at 1952.60 until heading to the next support level at 1941.30. Meanwhile, from the FXBot template, a bearish trend can be seen supported by a sell signal indicated by a red arrow.

Suggest: Sell 1952.60 TP1 1947.00 TP2 1941.30 SL 1960.00

CLSK (OIL)

Daily technical analysis for oil prices in the 1-hour period is trying to move further downwards, it is necessary to break through the support area at 71.10 and towards the next support level at 70.61. Meanwhile, to change the bias to bullish, oil prices need to pass the resistance level at 72.20 to the next resistance level at 72.82.

Suggest: Sell 71.10 TP1 70.61 TP2 70.00 SL 71.70