Technical Daily Analysis: March 13, 2023 – US Dollar Plunges

The following is a technical daily analysis, March 13, 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 moved further upwards trying to touch the resistance area of 1.07360 towards the next resistance level at 1.07500. With the MA50 line crossing the MA100 line from below, it indicates an increase. However, the CCI, which is already in the overbought area, will limit the increase. Meanwhile, to turn the bias bearish, EUR/USD needs to break through the support area at 1.06940 towards the next support level at 1.06230.

Suggest : Buy 1.07000 TP1 1.07360 TP2 1.07500 SL 1.06730

GBPUSD

GBP/USD on the 1-hour period moved further upwards, trying to touch the 1.21408 resistance area towards the next resistance level at 1.21990. With the MA50 line crossing the MA100 line from below, it indicates an increase. However, the CCI, which is already in the overbought area, will limit the increase. Meanwhile, to turn the bias bearish, GBP/USD needs to break through the support area at 1.20645 towards the next support level at 1.20000.

Suggest : Buy 1.21000 TP1 1.21408 TP2 1.21990 SL 1.20640

AUDUSD

AUD/USD on the 1-hour period tried to rebound touching the resistance area of 0.66915 to the next resistance at 0.67200 With the MA25 line crossing the MA50 line from below indicating a bullishness. However, the CCI, which is already in the overbought area, will limit the increase. Meanwhile, to turn the bias bearish, AUD/USD needs to break through the support area at 0.66398 towards the next support level at 0.65920.

Suggest : Buy 0.66500 TP1 0.66915 TP2 0.67200 SL 0.66398

USDCHF

USD/CHF on the 1-hour period moved further down, trying to touch the 0.91508 support area towards the next support level at 0.91030. With the MA50 line crossing the MA100 line from above indicates a decline. However, the CCI, which is already in the oversold area, will limit the decline. Meanwhile, to turn the bias into a bullish one, USD/CHF needs to cross the resistance area at 0.92023 to the next resistance level at 0.92610.

Suggest : Sell 0.91800 TP1 0.91508 TP2 0.91030 SL 0.92023

USDJPY

USD/JPY in the 1-hour period moved further down, trying to touch the 133,542 support area towards the next support level at 132,660. Meanwhile, to turn the bias into a bullish one, USD/JPY needs to break through the resistance area at 135,058 towards the next resistance level at 135,540.

Suggest : Sell 134.090 TP1 133.542 TP2 133.000 SL 134.500

XUL (LOCO LONDON GOLD)

Daily Technical Analysis for Gold price on the 1-hour period tried to move up touching the resistance area of 1894.05 towards the next resistance level at 1912.80. With the MA50 line crossing the MA100 line from below, it indicates an increase. However, the CCI, which is already in the overbought area, will limit the increase. Meanwhile, to change the bias to bearish, gold needs to break through the support area at 1869.83 towards the next support level at 1849.00.

Suggest : Buy 1875.00 TP1 1885.00 TP2 1894.05 SL 1869.83

CLSK (OIL)

Daily Technical Analysis for Oil Prices in the 1-hour period is trying to rebound to test the resistance area of 77.44 towards the next resistance level at 78.47. Meanwhile, for further bearish bias, oil prices need to cross the 76.10 support level towards the next support level at 75.19.

Suggest : Sell 76.10 TP1 75.50 TP2 75.19 SL 77.00

So, that's the explanation of "Technical Daily Analysis: March 13, 2023 – US Dollar Plummets". 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.