Daily Technical Analysis: June 8, 2023 – US Bond Yields Rise, Dollar?

The following is a technical daily analysis, June 8, 2023. The data and analysis contained in this newsletter can be used on a wide scale for your trading. However, it is important to note that GICTrade and its data providers are not responsible for your trading results. So, it's your own responsibility. Before knowing today's technical analysis, immediately register yourself to take part in the GIC Gebyar Prize and get the main prize, namely Mobile Mitshubshi Expander or Vacation Package to Labuan Bajo for 4 days and 3 nights. In the following, we will inform you about the forecast of price movements in Forex and Commodities which is equipped with the calculation of Pivot points, Resistance and Support levels.

EURUSD

Daily technical analysis for the EUR/USD pair on the 1-hour period tried to move upwards, touching the resistance level at 1.07300 and heading to the next resistance level at 1.07700. The upward trend can also be seen from the FXBot template, where the EUR figure is higher by 5.1 than the USD figure of 1.1. While the bullish bias is also supported by a buy signal indicated by a green arrow.

Suggest: Buy 1.07100 TP1 1.07300 TP2 1.07700 SL 1.06900

GBPUSD

GBP/USD on the 1-hour period tried to move upwards touching the resistance level at 1.24820 until heading towards the next resistance level at 1.25430. The upward trend can also be seen from the FXBot template, where the GBP figure is higher by 5.0 than the USD figure of 1.4. While the bullish bias is also supported by a buy signal indicated by a green arrow.

Suggest: Buy 1.24600 TP1 1.24820 TP2 1.25430 SL 1.24380

AUDUSD

AUD/USD on the 1-hour period tried to move up, touching the resistance level at 0.67170 until heading to the next resistance level at 0.67730. The upward trend can also be seen from the FXBot template, where the AUD figure is higher by 4.8 than the USD figure of 1.4. Meanwhile, the bullish bias is also supported by a buy signal indicated by a green arrow.

Suggest: Buy 0.66610 TP1 0.67170 TP2 0.67730 SL 0.66060

USDCHF

Daily technical analysis for the USD/CHF pair on the 1-hour period tried to move down, touching the support level at 0.90810 to the next support level at 0.90560. The downward trend is also seen from the FXBot template, where the CHF figure is only slightly lower by 1.6 from the USD figure of 1.7. While the bearish bias is also supported by a sell signal indicated by a red arrow.

Suggest: Sell 0.90810 TP1 0.90560 TP2 0.90170 SL 0.91200

USDJPY

USD/JPY on the 1-hour period moved down, trying to touch the support level at 139,760 until heading to the next support level at 139,280. The downward trend can also be seen from the FXBot template, where the JPY figure is higher by 7.5 than the USD figure of 1.7. While the bearish bias is also supported by a sell signal indicated by a red arrow.

Suggest: Sell 139.760 TP1 139.500 TP2 139.280 SL 140.000

XUL (LOCO LONDON GOLD)

Gold prices in the 1-hour period tried to move up, touching the resistance area at 1953.30 until heading to the next resistance level at 1966.80. Meanwhile, from the FXBot template, a bullish trend can be seen supported by a buy signal indicated by a green arrow.

Suggest: Buy 1953.30 TP1 1960.00 TP2 1966.80 SL 1947.00

CLSK (OIL)

Oil prices in the 1-hour period are trying to move down, needing to pass through the support area at 71.93 to reach the next support level at 71.30. Meanwhile, to change the bias to be bullish, oil prices need to cross the resistance level at 73.14 to reach the next resistance level at 74.39.

Suggest: Sell 71.93 TP1 71.60 TP2 71.30 SL 72.23