The following is the daily technical analysis, May 11, 2022. The data and analysis in this article 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 Trading Competition and get prizes of up to 3 Billion Rupiah!

EURUSD

 Daily technical analysis of the movement of the Euro is predicted to weaken/Bearish towards the level of S1, S2 and even S3, but if it cannot continue its weakness, it will return to the Pivot level or it may move to the level of R1, R2 and even R3. For details, please see below

Pivot Point

Pivot poin are at = 1,05465

Resistance

Resistance 1 = 1,05680 Resistance 2 = 1,06065 Resistance 3 = 1,06280

Support

Support 1     = 1,05080 Support 2     = 1,04865 Support 3     = 1,04480

USDCHF

 Daily technical analysis of Swiss Franch's movement is predicted to weaken, the candle moves Bullish towards the levels of R1, R2 and even R3, but if it cannot continue its weakness, it will return to the Pivot level or it may move to the level of S1, S2 and even S3. For details, please see below

Pivot Point

Pivot poin are at = 0,99445

Resistance

Resistance 1 = 0,99841 Resistance 2 = 1,00137 Resistance 3 = 1,00533

Support

Support 1     = 0,99149 Support 2     = 0,98753 Support 3     = 0,98457

USDJPY

 Daily technical analysis of the movement of the Yen is predicted to weaken, the candle moves Bullish towards the level of R1, R2 and even R3, but if it cannot continue its weakness, it will return to the Pivot level or it may move to the level of S1, S2 or even S3. For details, please see below

Pivot Point

Pivot poin are at = 130,265

Resistance

Resistance 1 = 130,738 Resistance 2 = 131,045 Resistance 3 = 131,518

Support

Support 1     = 129,958 Support 2     = 129,485 Support 3     = 129,178

GBPUSD

 Daily technical analysis of the movement of the Pound Sterling is predicted to weaken/Bearish towards the level of S1, S2 and even S3, but if it cannot continue its weakening, it will return to the Pivot level or it may move to the level of R1, R2 or even R3. For details, please see below

Pivot Point

Pivot poin are at = 1,23270

Resistance

Resistance 1 = 1,23632 Resistance 2 = 1,24112 Resistance 3 = 1,24474

Support

Support 1     = 1,22790 Support 2     = 1,22428 Support 3     = 1,21948

AUDUSD

 Daily technical analysis of the Aussie movement is predicted to weaken/Bearish towards the level of S1, S2 and even S3, but if it cannot continue its weakening, it will return to the Pivot level or it may move to the level of R1, R2 or even R3. For details, please see below

Pivot Point

Pivot poin are at = 0,69450

Resistance

Resistance 1 = 0,69796 Resistance 2 = 0,70204 Resistance 3 = 0,70550

Support

Support 1     = 0,69042 Support 2     = 0,68696 Support 3     = 0,68288

GOLD

 Daily technical analysis of the movement of Gold is predicted to go down/Bearish towards the level of S1, S2 and even S3, but if it cannot continue its decline, it will return to the Pivot level or it may move to the level of R1, R2 or even R3. For details, please see below

Pivot Point

Pivot poin are at = 1846,85

Resistance

Resistance 1 = 1858,34 Resistance 2 = 1876,88 Resistance 3 = 1888,37

Support

Support 1     = 1828,31 Support 2     = 1816,82 Support 3     = 1798,28

OIL

 Daily technical analysis of oil movements is predicted to fall/Bearish towards the level of S1, S2 and even S3, but if it cannot continue its decline, it will return to the Pivot level or it may move to the level of R1, R2 or even R3. For details, please see below

Pivot Point

Pivot poin are at = 100,91

Resistance

Resistance 1 = 102,94 Resistance 2 = 106,15 Resistance 3 = 108,18

Support

Support 1     = 97,70 Support 2     = 95,67 Support 3     = 92,46

That's the explanation of "Technical Daily Analysis: May 11, 2022 - Bearish Market". Also read our other articles, such as Forex Candlesticks explained, only in the GIC Journal. Don't forget to practice your trading skills by getting a scalping ebook and following live trading on NFP Live Trading. Make sure to download GIC Mobile Apps on the Google Play Store as well as the Apple App Store, to maximize profits from forex trading.