Technical Daily Analysis: October 13, 2023 – US CPI Rises, Dollar Soars

Here is the technical daily analysis for October 13, 2023. The data and insights in this bulletin can be widely used for your trading. However, it's important to note that GICTrade and data providers are not responsible for your trading results.

Thus, the responsibility lies with you. Before diving into today’s technical analysis, be sure to register for GIC Big Deals, which offers exclusive benefits and exciting prizes. This event is only available for a limited time, from July 10 to December 31, 2023.

Below, we will provide forecasts for price movements in Forex and Commodities, including calculations for Pivot points, Resistance, and Support levels.

EURUSD



EUR/USD on the 1-hour chart is attempting to move upward, touching the resistance level at 1.05760 and heading toward the next resistance level at 1.06280. An upward trend is also visible from the FXBot template, where the EUR shows a higher figure of 7.0 compared to the USD's 3.7. Meanwhile, the bullish bias is supported by a buy signal indicated by the green arrow.

Suggest: Buy 1.05500 TP1 1.05760 TP2 1.06000 SL 1.05200

GBPUSD

GBP/USD on the 1-hour chart is attempting to move upward, touching the resistance level at 1.22460 and heading toward the next resistance level at 1.23220. An upward trend is also visible from the FXBot template, where the GBP shows a higher figure of 4.8 compared to the USD's 3.7. However, the bias appears bearish, supported by a sell signal indicated by the red arrow.

Suggest: Buy 1.22100 TP1 1.22460 TP2 1.22700 SL 1.21800

PREVIOUS RANGE
OPEN	HIGH	LOW	CLOSE	PREV.CLOSE	CHANGE	%CHANGE
1.23109	1.23297	1.21701	1.21732	1.23109	-0.01377	-1.12%
DAILY PIVOT POINT
R3	R2	R1	PIVOT	S1	S2	S3
1.24820	1.24060	1.23220	1.22460	1.21620	1.20860	1.20030

 

AUDUSD

AUD/USD on the 1-hour chart is attempting to move downward, touching the support level at 0.624000 and heading toward the next support level at 0.61750. The downward trend is also supported by the FXBot template, where the AUD shows a lower figure of 2.4 compared to the USD's 4.1. Additionally, the bearish bias is confirmed by a sell signal indicated by the red arrow.

Suggest: Buy 0.63100 TP1 0.63300 TP2 0.63590 SL 0.62850

PREVIOUS RANGE
OPEN	HIGH	LOW	CLOSE	PREV.CLOSE	CHANGE	%CHANGE
0.64113	0.64289	0.63052	0.63120	0.64119	-0.00999	-1.56%
DAILY PIVOT POINT
R3	R2	R1	PIVOT	S1	S2	S3
0.65470	0.64880	0.64230	0.63640	0.63590	0.62400	0.61750

 

USDCHF

The technical analysis for the USD/CHF pair on the 1-hour chart indicates an upward movement, reaching the resistance level at 0.90990 and aiming for the next resistance level at 0.91430. The upward trend is also reflected in the FXBot template, where the CHF shows a lower figure of 4.6 compared to the USD's 5.1. Additionally, the bullish bias is supported by a buy signal indicated by the green arrow.

Suggest: Sell 0.90990 TP1 0.90700 TP2 0.90420 SL 0.91300

PREVIOUS RANGE
OPEN	HIGH	LOW	CLOSE	PREV.CLOSE	CHANGE	%CHANGE
0.90160	0.90859	0.89846	0.90821	0.90175	0.00646	0.72%
DAILY PIVOT POINT
R3	R2	R1	PIVOT	S1	S2	S3
0.92010	0.91430	0.90990	0.90420	0.89980	0.89410	0.88970

 

USDJPY

The analysis for the USD/JPY pair on the 1-hour chart shows a downward movement, reaching the support level at 149.420 and aiming for the next support level at 149.030. This downward trend is further supported by the FXBot template, where the JPY is higher at 6.1 compared to the USD's 5.5. Additionally, the bearish bias is reinforced by a sell signal indicated by the red arrow.

Suggest: Sell 149.900 TP1 149.600 TP2 148.420 SL 150.290

PREVIOUS RANGE
OPEN	HIGH	LOW	CLOSE	PREV.CLOSE	CHANGE	%CHANGE
149.141	149.811	148.938	149.790	149.154	0.636	0.43%
DAILY PIVOT POINT
R3	R2	R1	PIVOT	S1	S2	S3
150.780	150.290	149.900	149.420	149.030	148.550	148.160

 

XUL (LOCO LONDON GOLD)

The analysis for gold prices on the 1-hour chart indicates an upward movement, reaching the resistance level at 1888.00 and aiming for the next resistance level at 1890.90. For a bearish bias to take effect, gold prices would need to break through the support level at 1863.00, targeting the next support level at 1856.90.

Suggest: Sell 1880.00 TP1 1875.00 TP2 1870.00 SL 1885.00

PREVIOUS RANGE
OPEN	HIGH	LOW	CLOSE	PREV.CLOSE	CHANGE	%CHANGE
1874.36	1884.79	1867.79	1868.60	1874.20	-5.60	-0.30%
DAILY PIVOT POINT
R3	R2	R1	PIVOT	S1	S2	S3
1897.00	1890.90	1880.00	1873.90	1863.00	1856.90	1846.00

 

CLSK (OIL)

The daily technical analysis for oil prices on the 1-hour chart shows an attempt to move upward, needing to break through the resistance level at 85.03 to reach the next resistance level at 86.56. For a bearish bias to materialize, oil prices would need to drop below the support level at 83.66, aiming for the next support level at 82.13.

Suggest: Sell 83.66 TP1 83.30 TP2 83.00 SL 84.00

PREVIOUS RANGE
OPEN	HIGH	LOW	CLOSE	PREV.CLOSE	CHANGE	%CHANGE
83.18	85.19	82.29	83.51	83.71	-0.20	-0.24%
DAILY PIVOT POINT
R3	R2	R1	PIVOT	S1	S2	S3
87.93	86.56	85.03	83.66	82.13	80.76	79.23

That concludes the explanation of "Daily Technical Analysis: October 13, 2023 – US CPI Increases, Dollar Soars." Also, check out our other articles, such as the guide on how to buy cryptocurrency, only on the GIC Journal. Don’t forget to hone your trading skills by obtaining the Scalping Guide Ebook and participating in Live Trading during NFP Live Trading. Make sure to download the GIC Mobile App from the Google Play Store.