Technical Daily Analysis: May 2, 2023 - Greenback Jumps

The following is a daily technical analysis, May 2, 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 upwards to the resistance level at 1.10000 to the next resistance level at 1.10340. The upward trend can also be seen from the FXBot template, where the EUR figure is higher by 4.8 than the USD figure of 2.4. Meanwhile, the bullish trend is also supported by a buy signal indicated by a green arrow.

Suggest: Buy 1.10000 TP1 1.10340 TP2 1.10700 SL 1.09700

GBPUSD

GBP/USD on the 1-hour period tried to move upwards touching the resistance level at 1.25200 until the next resistance level at 1.25680. However, the uptrend is still weak as seen from the FXBot template, where the GBP figure is higher by 2.7 than the USD figure of 2.2. Meanwhile, in other parameters there is a bearish bias supported by a sell signal indicated by a red arrow.

Suggest: Buy 1.25200 TP1 1.25680 TP2 1.25800 SL 1.24800

AUDUSD

Daily technical analysis for the AUD/USD pair on the 1-hour period tried to move further upwards, touching the resistance level at 0.67200 to the next resistance level at 0.67500. The upward trend can also be seen from the FXBot template, where the AUD figure is higher by 9.0 than the USD figure of 2.5. While the bullish bias is also supported by a buy signal indicated by a green arrow.

Suggest: Sell 0.67300 TP1 0.67000 TP2 0.66800 SL 0.67600

USDCHF

USD/CHF on the 1-hour period is trying to move up, needing to break through the resistance level at 0.89800 to the next resistance level at 0.90130. The upward trend can also be seen from the FXBot template, where the USD figure is higher by 2.8 from the CHF figure of 1.1. While the bullish bias is also supported by a buy signal indicated by a green arrow.

Suggest: Buy 0.89800 TP1 0.90130 TP2 0.90350 SL 0.89600

USDJPY

USD/JPY on the 1-hour period is trying to move up, needing to break through the resistance level at 137,800 to the next resistance level at 138,230. The upward trend can also be seen from the FXBot template, where the USD figure is higher by only 2.8 from the JPY figure of 2.5. Meanwhile, the bullish trend is also supported by a buy signal indicated by a green arrow.

Suggest: Buy 137.800 TP1 138.230 TP2 138.500 SL 137.490

XUL (LOCO LONDON GOLD)

Gold prices in the 1-hour period tried to move up, touching the resistance area of 1988.70 until heading to the next support level at 200.50. Meanwhile, the bullish trend is also supported by a buy signal indicated by a green arrow.

Suggest: Buy 1988.70 TP1 1994.00 TP2 2000.50 SL 1983.00

CLSK (OIL)

Daily technical analysis for oil prices on the 1-hour period is trying to move down, testing the support area at 74.85 to the next support level at 74.57. Meanwhile, to turn the bias into bullish, oil prices need to cross the resistance level at 76.05 to the next resistance level at 76.72.

Suggest: Sell 74.85 TP1 74.57 TP2 74.00 SL 75.30