Technical Daily Analysis: May 22, 2023 – Greenback Consolidates

The following is a technical daily analysis, May 22, 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 downwards to the support level at 1.07910 to the next support level at 1.07540. The downward trend can also be seen from the FXBot template, where the EUR figure is lower by 5.4 than the USD figure of 6.7. While the bearish bias is also supported by a sell signal indicated by a red arrow.

Suggest: Sell 1.082300 TP1 1.07910 TP2 1.07540 SL 1.08600

GBPUSD

GBP/USD on the 1-hour period tried to move down, touching the support level at 1.24320 until heading to the next support level at 1.23810. The downward trend can also be seen from the FXBot template, where the GBP figure is lower by 3.0 from the USD figure of 6.2. While the bearish bias is also supported by a sell signal indicated by a red arrow.

Suggest: Sell 1.24720 TP1 1.24320 TP2 1.23810 SL 1.25000

AUDUSD

AUD/USD on the 1-hour period moved down, trying to touch the support level at 0.66390 until heading to the next support level at 0.66040. The downward trend can also be seen from the FXBot template, where the AUD figure is lower by 1.7 than the USD figure of 5.8. While the bearish bias is also supported by a sell signal indicated by a red arrow.

Suggest: Sell 0.66390 TP1 0.66040 TP2 0.65790 SL 0.66640

USDCHF

Daily technical analysis for the USD/CHF pair on the 1-hour period is trying to move downwards, needing to break through the support level at 0.89800 and towards the next support level at 0.89350. The downward trend can also be seen from the FXBot template, where the CHF figure is higher by 7.1 from the USD figure of 5.5.

Suggest: Sell 0.89800 TP1 0.89350 TP2 0.88960 SL 0.90190

USDJPY

USD/JPY in the 1-hour period is trying to move up, needing to break through the resistance level at 138,190 to reach the next resistance level at 138,960. The upward trend can also be seen from the FXBot template, where the JPY figure is lower by 3.1 from the USD figure of 5.5. While the bullish bias is also supported by a buy signal indicated by a green arrow.

Suggest: Buy 138.000 TP1 138.500 TP2 138.960 SL 137.670

XUL (LOCO LONDON GOLD)

Daily technical analysis for gold price on the 1-hour period tried to move down, touching the support area of 1967.80 until the next support level at 1951.60. While the bearish trend is also supported by sell signals indicated by red arrows.

Suggest: Sell 1981.70 TP1 1975.00 TP2 1967.80 SL 1990.00

CLSK (OIL)

Oil prices in the 1-hour period are trying to move down, needing to pass through the support area at 70.37 to reach the next support level at 69.82. Meanwhile, to change the bias to become bullish, the oil price needs to pass the resistance level at 72.20 to reach the next resistance level at 73.23.

Suggest: Buy 71.19 TP1 71.70 TP2 72.20 SL 70.70