Here is the technical daily analysis for October 12, 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 upward, touching the resistance level at 1.06320 again and heading towards the next resistance level at 1.06890. The upward trend is also reflected in the FXBot template, where the EUR reading is higher at 7.0 compared to the USD at 2.5. The bullish bias is further supported by a buy signal indicated by a green arrow.

Suggest: Buy 1.06320 TP1 1.06610 TP2 1.06890 SL 1.06080

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

1.06029

1.06328

1.05797

1.06172

1.06030

0.00142

0.13%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

1.06890

1.06610

1.06320

1.06080

1.05830

1.05550

1.05320

 

GBPUSD


The GBP/USD pair on the 1-hour period is attempting to move upward, touching the resistance level at 1.23320 and heading towards the next resistance level at 1.23680. The upward trend is also reflected in the FXBot template, where the GBP reading is higher at 4.0 compared to the USD at 3.1. However, the bias appears bearish, supported by a sell signal indicated by a red arrow.

Suggest: Buy 1.23320 TP1 1.23680 TP2 1.24010 SL 1.23000

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

1.22829

1.23354

1.22663

1.23109

1.22834

0.00275

0.23%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

1.24010

1.23680

1.23320

1.22990

1.22630

1.22300

1.21940

 

AUDUSD


The AUD/USD pair on the 1-hour period is attempting to move upward, touching the resistance level at 0.64180 again and heading towards the next resistance level at 0.64500. The upward trend is also supported by the FXBot template, where the AUD reading is higher at 6.0 compared to the USD at 2.7. The bullish bias is further reinforced by a buy signal indicated by a green arrow.

Suggest: Buy 0.64180 TP1 0.64500 TP2 0.64750 SL 0.63930

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

0.64298

0.64432

0.63861

0.64119

0.64298

-0.00179

-0.28%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

0.65070

0.64750

0.64500

0.64180

0.63930

0.63610

0.63360

 

 

USDCHF



The technical daily analysis for the USD/CHF pair on the 1-hour period shows an attempt to move downward, touching the support level at 0.89750 and heading towards the next support level at 0.89510. The downward trend is also reflected in the FXBot template, where the CHF reading is higher at 6.3 compared to the USD at 4.1. The bearish bias is further supported by a sell signal indicated by a red arrow.

Suggest: Sell 0.90040 TP1 0.89750 TP2 0.89510 SL 0.90280

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

0.90429

0.90525

0.89998

0.90175

0.90449

-0.00274

-0.30%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

0.91090

0.90810

0.90560

0.90280

0.90040

0.89750

0.89510

 

USDJPY



The USD/JPY pair on the 1-hour period is attempting to move downward, touching the support level at 148.890 and heading towards the next support level at 148.480. The downward trend is also supported by the FXBot template, where the JPY reading is higher at 4.1 compared to the USD at 2.5. The bearish bias is further reinforced by a sell signal indicated by a red arrow.

Suggest: Sell 149.050 TP1 148.800 TP2 148.500 SL 149.370

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

148.691

149.305

148.406

149.154

148.691

0.463

0.31%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

150.270

149.790

149.370

148.890

148.480

147.990

147.580

  

XUL (LOCO LONDON GOLD)



Gold prices on the 1-hour period are attempting to move upward, touching the resistance level at 1885.80 and heading towards the next resistance level at 1894.60. For a bearish bias, gold prices need to break through the support level at 1867.30 and head towards the next support level at 1848.80.

Suggest: Sell 1890.00 TP1 1885.00 TP2 1880.00 SL 1895.00

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

1859.24

1877.05

1858.51

1874.20

1860.28

13.92

0.75%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

1894.60

1885.80

1876.10

1867.30

1857.60

1848.80

1839.00

 

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 84.44 and head towards the next resistance level at 85.77. For a bearish bias, oil prices need to break through the support level at 82.39 and move towards the next support level at 81.06.

Suggest: Buy 83.50 TP1 84.00 TP2 84.50 SL 83.00

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

85.94

86.49

83.11

83.71

85.78

-2.07

-2.41%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

89.15

87.82

85.77

84.44

82.39

81.06

79.01


Well, that’s the explanation about “Technical Daily Analysis: October 12, 2023 – Gold Movement Ahead of CPI.” 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.