Here is the technical daily analysis for March 15, 2024. The data and analysis in this bulletin can be used broadly for your trading. However, please note that GICTrade and the data provider are not responsible for your trading results.
 
Below, we provide forecasts of price movements in Forex and Commodities, including Pivot points, Resistance, and Support levels.
 

EURUSD


EUR/USD on the 1-hour chart is above the first support area at 1.08790, attempting to rise towards the pivot area at 1.09170 and reaching the first resistance at 1.09530. Meanwhile, the RSI indicator is below the pivot area, suggesting that the euro may correct first before rebounding.

Suggest: Buy 1.08790 TP1 1.09170 TP2 1.09530 SL 1.08430

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

1.09473

1.09549

1.08807

1.08836

1.09479

-0.00643

-0.59%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

1.10270

1.09910

1.09530

1.09170

1.08790

1.08430

1.08050

 

GBPUSD

GBP/USD on the 1-hour chart is above the first support area at 1.27270, attempting to rise towards the pivot area at 1.27750 and reaching the first resistance at 1.28190. Meanwhile, the RSI indicator is below the pivot area, suggesting that the pound may fall first before rebounding.

Suggest: Buy 1.27270 TP1 1.27750 TP2 1.28190 SL 1.26830

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

1.27930

1.28229

1.27307

1.27529

1.27969

-0.00440

-0.34%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

1.29120

1.28670

1.28190

1.27750

1.27270

1.26830

1.26350

 

AUDUSD


AUD/USD on the 1-hour chart is above the second support area at 0.66290, attempting to rise to the first support area at 0.65680 and reaching the pivot area at 0.66000. Meanwhile, the RSI indicator is below the pivot area or oversold, suggesting that the Aussie may rebound.

Suggest: Buy 0.65380 TP1 0.65680 TP2 0.66000 SL 0.65060

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

0.66152

0.66320

0.65695

0.65814

0.66215

-0.00401

-0.61%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

0.66930

0.66630

0.66310

0.66000

0.65680

0.65380

0.65060

 

USDCHF

USD/CHF on the 1-hour chart is below the second resistance area at 0.88700, attempting to move down to the first resistance area at 0.88400 and reaching the pivot area at 0.88110. Meanwhile, the RSI indicator is above the pivot area or overbought, suggesting that the Swiss franc may move down.

Suggest: Sell 0.88700 TP1 0.87400 TP2 0.88110 SL 0.89000

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

0.87833

0.88413

0.87819

0.88373

0.87879

0.00494

0.56%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

0.89000

0.88700

0.88400

0.88110

0.87810

0.87520

0.87210

 

USDJPY

USD/JPY on the 1-hour chart is above the first resistance area at 148.490, attempting to rise towards the second resistance area at 148.880 and reaching the third resistance at 149.410. Meanwhile, the RSI indicator is above the pivot area, suggesting that the yen may continue to rise further.

Suggest: Buy 148.490 TP1 148.880 TP2 149.410 SL 147.960

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

147.726

148.358

147.434

148.306

147.753

0.553

0.37%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

149.410

148.880

148.490

147.960

147.560

147.040

146.640

 

XUL (LOCO LONDON GOLD)

Gold on the 1-hour chart is above the first support area at 2156.40, attempting to move up towards the first resistance area at 2180.60 and reaching the second resistance at 2190.90. Meanwhile, the RSI indicator is above the pivot area, suggesting that gold may move higher.

Suggest: Buy 2163.00 TP1 2170.00 TP2 2180.00 SL 2156.00

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

2174.51

2176.97

2152.77

2162.64

2174.57

-11.93

-0.55%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

2204.80

2190.90

2180.60

2166.70

2156.40

2142.50

2132.20

 

CLSK (OIL)

Oil on the 1-hour chart is below the first resistance area at 81.92, with potential to move down to the pivot area at 80.74 and reach the first support at 79.89. Meanwhile, the RSI indicator is above the pivot area, suggesting that oil may rise first before correcting.

Suggest: Sell 81.50 TP1 81.00 TP2 80.50 SL 82.00

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

79.59

81.59

79.56

81.06

79.62

1.44

1.81%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

83.95

82.77

81.92

80.74

79.89

78.71

77.86

Well, that’s the explanation of “Technical Daily Analysis: March 15, 2024 – Mixed Sentiment, The Fate of the US Dollar?” Read our other articles, such as the explanation of how to buy cryptocurrency, only at Jurnal GIC. Don’t forget to improve your trading skills by getting the Ebook Scalping guide and joining the NFP Live Trading. Make sure to download the GIC Mobile App on Google Play Store.