Technical Daily Analysis: May 26, 2023 – Durable Goods Orders Down, Dollar?

The following is a technical daily analysis, May 26, 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 of the EUR/USD pair on the 1-hour period moved further downwards, trying to touch the support level at 1.07340 and towards the next support level at 1.07120. The downward trend can also be seen from the FXBot template, where the EUR figure is lower by 1.4 than the USD figure of 2.7. While the bearish bias is also supported by a sell signal indicated by a red arrow.

Suggest: Sell 1.07340 TP1 1.07120 TP2 1.06850 SL 1.07610

GBPUSD

GBP/USD on the 1-hour period tried to move up, touching the resistance level at 1.23450 until the next resistance level at 1.23830. The upward trend can also be seen from the FXBot template, where the GBP figure is higher by 6.4 than the USD figure of 3.4. While the bullish bias is also supported by a buy signal indicated by a green arrow.

Suggest: Buy 1.23450 TP1 1.23830 TP2 1.24240 SL 1.23040

AUDUSD

AUD/USD on the 1-hour period tried to move upwards touching the resistance level at 0.65220 until heading towards the next resistance level at 0.65460. The upward trend is also not seen from the FXBot template, where the AUD figure is higher by 7.7 than the USD figure of 3.7. While the bullish bias is also supported by a buy signal indicated by a green arrow.

Suggest: Buy 0.65220 TP1 0.65460 TP2 0.65700 SL 0.64980

USDCHF

Daily technical analysis for the USD/CHF pair on the 1-hour period moved further upwards, trying to touch the resistance level at 0.90540 and towards the next resistance level at 0.90900. The upward trend can also be seen from the FXBot template, where the CHF figure is lower by 1.8 from the USD figure of 3.8. While the bullish bias is also supported by a buy signal indicated by a green arrow.

Suggest: Buy 0.90540 TP1 0.90710 TP2 0.90900 SL 0.90300

USDJPY

USD/JPY in the 1-hour period tried to move down, touching the support level at 139,500 until heading to the next support level at 139,040. The downward trend can also be seen from the FXBot template, where the JPY figure is higher by 4.6 than the USD figure of 3.7. While the bearish bias is also supported by a sell signal indicated by a red arrow.

Suggest: Sell 139.500 TP1 139.200 TP2 139.00 SL 139.800

XUL (LOCO LONDON GOLD)

Gold prices in the 1-hour period tried to move upwards touching the resistance area of 1955.00 until heading to the next resistance level at 1961.10. Meanwhile, from the FXBot template, a bullish trend can be seen supported by a buy signal indicated by a green arrow.

Suggest: Sell 1961.10 TP1 1955.00 TP2 1950.00 SL 1967.00

CLSK (OIL)

Daily technical analysis for oil prices on the 1-hour period is trying to move up, needing to break through the resistance area at 72.60 to the next resistance level at 73.77. Meanwhile, to continue the bearish bias, oil prices need to pass the support level at 71.95 to the next support level at 71.00.

Suggest: Buy 72.60 TP1 73.20 TP2 73.77 SL 72.00