Here's the daily technical analysis for January 10, 2024. The data and analysis 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 outcomes.
 
Next, we will provide forecasts for price movements in Forex and Commodity, along with calculations for pivot points, resistance, and support levels.
 

EURUSD


EUR/USD in the 1-hour period is attempting to move down, touching the support level at 1.09140 and heading toward the next support level at 1.08840. The downtrend is also visible in the template, where the potential percentage decline is higher than the percentage increase. Meanwhile, the bearish bias is supported by the sell signal indicated by the purple arrow.

Suggest: Sell 1.09400 TP1 1.09140 TP2 1.08840 SL 1.09700

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

1.09501

1.09664

1.09103

1.09312

1.09504

-0.00192

-0.18%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

1.10260

1.09960

1.09700

1.09400

1.09140

1.08840

1.08580

 

GBPUSD

GBP/USD in the 1-hour period is attempting to move down, touching the support level at 1.26870 and heading toward the next support level at 1.26500. The downtrend is also visible in the template, where the potential percentage decline is higher than the percentage increase. Meanwhile, the bearish bias is supported by the sell signal indicated by the purple arrow.

Suggest: Sell 1.27260 TP1 1.26870 TP2 1.26500 SL 1.27620

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

1.27403

1.27652

1.26896

1.27096

1.27479

-0.00383

-0.30%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

1.28380

1.28020

1.27620

1.27260

1.26870

1.26500

1.26110

 

AUDUSD

AUD/USD in the 1-hour period is attempting to move up, touching the resistance level at 0.67270 and heading toward the next resistance level at 0.67590. The trend is in a downward phase as indicated in the template, where the potential percentage decline is higher than the percentage increase. Meanwhile, the bullish bias is supported by the buy signal indicated by the blue arrow.

Suggest: Buy 0.67000 TP1 0.67270 TP2 0.67590 SL 0.66690

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

0.67106

0.67346

0.66772

0.66869

0.67194

-0.00325

-0.48%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

0.67840

0.67590

0.67270

0.67020

0.66690

0.66450

0.66120

 

USDCHF

USD/CHF in the 1-hour period is attempting to move up, touching the resistance level at 0.85320 and heading toward the next resistance level at 0.85670. The upward trend is also visible in the template, where the potential percentage increase is higher than the percentage decline. Meanwhile, the bullish bias is supported by the buy signal indicated by the blue arrow.

Suggest: Buy 0.85000 TP1 0.85320 TP2 0.85670 SL 0.84700

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

0.84724

0.85317

0.84619

0.85233

0.84801

0.00432

0.51%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

0.86020

0.85670

0.85320

0.84970

0.84620

0.84270

0.83930

 

USDJPY


USD/JPY in the 1-hour period is attempting to move up, touching the resistance level at 144.940 and heading toward the next resistance level at 145.380. The upward trend is also visible in the template, where the potential percentage increase is higher than the percentage decline. Meanwhile, the bullish bias is supported by the buy signal indicated by the blue arrow.

Suggest: Sell 145.380 TP1 144.940 TP2 144.500 SL 145.700

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

144.201

144.626

143.422

144.482

144.234

0.248

0.17%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

146.140

145.380

144.940

144.180

143.730

142.980

142.530

 

XUL (LOCO LONDON GOLD)

In the 1-hour period, gold prices are attempting to move down, touching the support level at 2020.90 and heading toward the next support level at 2015.60. The downtrend is also visible in the template, where the potential percentage decline is higher than the percentage increase. Meanwhile, the bearish bias is supported by the sell signal indicated by the purple arrow.

Suggest: Sell 2036.70 TP1 2031.40 TP2 2020.90 SL 2041.70

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

2028.19

2041.93

2026.13

2029.43

2028.64

0.79

0.04%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

2052.50

2047.20

2036.70

2031.40

2020.90

2015.60

2005.10

 

CLSK (OIL)

In the 1-hour period, oil prices are attempting to move up, needing to surpass the resistance level at 73.25 and heading toward the next resistance level at 74.31. For the bearish bias, oil prices need to break below the support level at 71.85 and head toward the next support level at 70.79.

Suggest: Buy 72.30 TP1 72.80 TP2 73.30 SL 71.80

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

70.88

72.91

70.45

72.19

70.97

1.22

1.72%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

75.71

74.31

73.25

71.85

70.79

69.39

68.33

So, that’s the explanation of “Daily Technical Analysis: January 10, 2024 – Declining Gold Prices.” Also, check out our other articles, such as guides on how to buy cryptocurrency, available only at GIC Journal. Don’t forget to hone your trading skills by getting the Ebook Scalping guide and joining Live Trading in NFP Live Trading. Be sure to download the GIC Mobile Apps from the Google Play Store.