Here is the technical daily analysis for October 18, 2023. The data and analysis in this bulletin can be widely used for your trading. However, please note that GICTrade and data providers are not responsible for your trading results.
 
Therefore, the responsibility lies with you. Before reviewing today’s technical analysis, make sure to register for the GIC Big Deals, which offers exclusive benefits and various attractive prizes. This event is available for a limited time, from July 10 - December 31, 2023.
 
Below, we provide the forecasted price movements in Forex and Commodities, including the calculation of Pivot Points, Resistance, and Support levels.

 

EURUSD

Technical daily analysis for EUR/USD on a 1-hour period indicates an upward movement, touching the resistance level at 1.05970 and potentially moving to the next resistance at 1.06260. The upward trend is also visible in the FXBot template, with the EUR value higher at 3.2 compared to the USD at 1.5. A bullish bias is supported by a buy signal indicated by a green arrow.

Suggest: Sell 1.06260 TP1 1.05970 TP2 1.05640 SL 1.06590

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

1.05576

1.05930

1.05311

1.05744

1.05577

0.00167

0.16%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

1.06590

1.06260

1.05970

1.05640

1.05350

1.05020

1.04730

 

GBPUSD

GBP/USD on a 1-hour period shows an upward move, touching the resistance at 1.22350 and possibly reaching the next resistance at 1.22610. The upward trend is confirmed by the FXBot template, with the GBP value at 2.5 higher than the USD at 1.5. A bullish bias is confirmed by a buy signal, indicated by a green arrow.

Suggest: Sell 1.22610 TP1 1.22350 TP2 1.21830 SL 1.22900

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

1.22094

1.22094

1.21312

1.21808

1.22151

-0.00343

-0.28%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

1.23130

1.22610

1.22350

1.21830

1.21570

1.21050

1.20780

 

AUDUSD

AUD/USD on a 1-hour period shows an upward trend, reaching resistance at 0.64020 and potentially heading to the next resistance at 0.6426. The rise is supported by the FXBot template, with AUD value at 7.4 higher than USD's 1.4. A bullish bias is further supported by a buy signal indicated by a green arrow.

Suggest: Sell 0.64260 TP1 0.64020 TP2 0.63760 SL 0.64500

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

0.63403

0.63779

0.63278

0.63635

0.63403

0.00232

0.36%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

0.64260

0.64020

0.63760

0.63520

0.63260

0.63020

0.62760

 

USDCHF

The technical daily analysis for USD/CHF on a 1-hour period indicates a downward movement, touching the support level at 0.89620 and potentially moving to the next support at 0.8936. The downward trend is visible in the FXBot template, with CHF value higher at 5.3 compared to USD at 2.4. A bearish bias is supported by a sell signal indicated by a red arrow.

Suggest: Buy 0.89360 TP1 0.89620 TP2 0.89780 SL 0.89100

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

0.89964

0.90300

0.89879

0.90006

0.89992

0.00014

0.01%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

0.90620

0.90460

0.90200

0.90040

0.89780

0.89620

0.89360

 

USDJPY


USD/JPY on a 1-hour period shows a downward trend, touching the support level at 149.470 and potentially heading to the next support at 149.110. The decline is confirmed by the FXBot template, with JPY value at 3.5 higher than USD's 2.4. A bearish bias is supported by a sell signal indicated by a red arrow.

Suggest: Sell 149.470 TP1 149.110 TP2 148.900 SL 149.800

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

149.500

149.831

148.756

149.790

149.500

0.290

0.19%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

151.260

150.550

150.180

149.470

149.110

148.400

148.030

 

XUL (LOCO LONDON GOLD)

The technical daily analysis for gold on a 1-hour period shows an upward movement, touching the resistance level at 1940.60 and potentially heading to the next resistance at 1949.70. For a bearish bias, gold needs to break the support level at 1930.50 and move to the next support at 1921.40.

Suggest: Buy 1940.60 TP1 1945.00 TP2 1949.70 SL 1935.00

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

1919.84

1931.43

1912.28

1922.13

1919.41

2.72

0.14%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

1949.70

1940.60

1930.50

1921.40

1911.40

1902.30

1892.20

 

CLSK (OIL)

Oil prices on a 1-hour period show a downward trend, needing to break the support at 87.91 and potentially heading to the next support at 86.75. For a bullish bias, oil needs to surpass the resistance at 88.60 and move to the next resistance at 89.76.

Suggest: Sell 87.91 TP1 87.50 TP2 87.00 SL 88.30

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

87.02

87.44

85.59

87.22

87.04

0.18

0.21%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

89.76

88.60

87.91

86.75

86.06

84.90

84.21

 

That's the summary of "Technical Daily Analysis: October 18, 2023 – Gold Prices Soar." Read our other articles, like the guide on buying cryptocurrency, only at Jurnal GIC. Don't forget to improve your trading skills by getting the Ebook Scalping guide and joining the NFP Live Trading. Be sure to download the GIC Mobile Apps on Google Play Store.