Technical Daily Analysis: October 11, 2023 – Bond Prices Down, USD?

Here is the technical daily analysis for October 11, 2023. The data and analysis in this bulletin can be widely used for your trading. However, it is important to note that GICTrade and data providers are not responsible for the results of your trading.

Therefore, this is your own responsibility. Before diving into today's technical analysis, make sure to register for GIC Big Deals, offering exclusive benefits and various exciting prizes. This event is only available for a limited time, from July 10 to December 31, 2023.

Now, we will provide you with price movement forecasts in Forex and Commodities, complete with Pivot point calculations, Resistance, and Support levels.


EURUSD



The technical daily analysis for the EUR/USD pair on the 1-hour period shows an attempt to move downward, touching the support level at 1.05850 and heading towards the next support level at 1.05520. The downward trend is also reflected in the FXBot template, where the EUR reading is lower at 4.0 compared to the USD at 6.0. The bearish bias is further supported by a sell signal indicated by a red arrow.

Suggest: Sell 1.05850 TP1 1.05520 TP2 1.05200 SL 1.06170

GBPUSD

The GBP/USD pair on the 1-hour period is attempting to move upward, touching the resistance level at 1.23340 and heading towards the next resistance level at 1.23780. The upward trend is also reflected in the FXBot template, where the GBP reading is higher at 8.0 compared to the USD at 6.0. The bullish bias is further supported by a buy signal indicated by a green arrow.

Suggest: Sell 1.23300 TP1 1.23000 TP2 1.22750 SL 1.23600

PREVIOUS RANGE
OPEN	HIGH	LOW	CLOSE	PREV.CLOSE	CHANGE	%CHANGE
1.22351	1.22896	1.22098	1.22834	1.22355	0.00479	0.39%
DAILY PIVOT POINT
R3	R2	R1	PIVOT	S1	S2	S3
1.23780	1.23340	1.22980	1.22540	1.22180	1.21740	1.21390

 

AUDUSD

The technical daily analysis for the AUD/USD pair on the 1-hour period shows an attempt to move downward, touching the support level at 0.64150 again and heading towards the next support level at 0.63720. The downward trend is also supported by the FXBot template, where the AUD reading is lower at 3.4 compared to the USD at 5.7. The bearish bias is further reinforced by a sell signal indicated by a red arrow.

Suggest: Sell 0.64150 TP1 0.63900 TP2 0.63720 SL 0.64400

USDCHF

The USD/CHF pair on the 1-hour period is attempting to move downward, touching the support level at 0.90290 and heading towards the next support level at 0.90060. The downward trend is also reflected in the FXBot template, where the CHF reading is higher at 6.5 compared to the USD at 5.4. The bearish bias is further supported by a sell signal indicated by a red arrow.

Suggest: Sell 0.90290 TP1 0.90060 TP2 0.89810 SL 0.90550

USDJPY

The USD/JPY pair on the 1-hour period is attempting to move upward, touching the resistance level at 149.050 and heading towards the next resistance level at 149.530. The upward trend is also supported by the FXBot template, where the JPY reading is lower at 1.5 compared to the USD at 5.7. The bullish bias is further reinforced by a buy signal indicated by a green arrow.

Suggest: Sell 149.050 TP1 148.800 TP2 148.600 SL 149.300

XUL (LOCO LONDON GOLD)

Gold prices on the 1-hour period are attempting to move upward, touching the resistance level at 1866.70 and heading towards the next resistance level at 1872.20. For a bearish bias, gold prices need to break through the support level at 1854.40 and move towards the next support level at 1847.40.

Suggest: Sell 1872.00 TP1 1866.00 TP2 1860.00 SL 1879.00

PREVIOUS RANGE
OPEN	HIGH	LOW	CLOSE	PREV.CLOSE	CHANGE	%CHANGE
1860.81	1865.22	1852.86	1860.28	1861.33	-1.05	-0.06%
DAILY PIVOT POINT
R3	R2	R1	PIVOT	S1	S2	S3
1879.10	1872.20	1866.70	1859.80	1854.40	1847.40	1842.00

 

CLSK (OIL)

The technical daily analysis for oil prices on the 1-hour period shows an attempt to move upward, needing to break through the resistance level at 86.63 and head towards the next resistance level at 87.48. To shift the bias to bearish, oil prices need to break through the support level at 85.82 and move towards the next support level at 85.02.

Suggest: Buy 86.00 TP1 86.50 TP2 87.00 SL 85.50

Well, that’s the explanation about “Technical Daily Analysis: October 11, 2023 – Bond Prices Down, USD Plummets.” Also, check out our other articles, such as the guide on how to buy cryptocurrency, only at Jurnal GIC. Don’t forget to sharpen your trading skills by getting the Scalping Ebook guide and joining the NFP Live Trading session. Make sure to download the GIC Mobile Apps from the Google Play Store.