Daily Technical Analysis: March 10, 2023 – Greenback Under Pressure

]The following is a daily technical analysis, March 10, 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

EUR/USD on the 1-hour period tried to move upwards touching the resistance area of 1.06064 towards the next resistance level at 1.06430. With the MA25 line crossing the MA50 line from below indicates an increase. However, the RSI, which is already in the overbought area, will limit the increase. Meanwhile, to turn the bias bearish, EUR/USD needs to break through the support area at 1.05733 towards the next support level at 1.05360.

Suggest : Sell 1.06064 TP1 1.05733 TP2 1.05360 SL 1.06430

GBPUSD

GBP/USD on the 1-hour period tried to move upwards touching the resistance area of 1.19908 towards the next resistance level at 1.20460. With the MA25 line crossing the MA50 line from below indicates an increase. However, the RSI, which is already in the overbought area, will limit the increase. Meanwhile, to turn the bias bearish, GBP/USD needs to break through the support area at 1.19245 towards the next support level at 1.18840.

Suggest : Sell 1.19900-1.20000 TP1 1.19380 TP2 1.18840 SL 1.20460

AUDUSD

Daily Technical Analysis for the AUD/USD pair in the 1-hour period tried to rebound to touch the resistance area of 0.66018 to the next resistance at 0.66570 which can be seen from the RSI which is already in the oversold area and moving upwards. As for further bearishness, AUD/USD needs to cross the support area at 0.65630 towards the next support level at 0.65370.

Suggest : Buy 0.66018 TP1 0.66570 TP2 0.66790 SL 0.65630

USDCHF

USD/CHF on the 1-hour period tried to move down, touching the 0.92806 support area towards the next support level at 0.92310. With the MA50 line crossing the MA100 line from above indicates a decline. However, the RSI which is already in the oversold area will limit the decline. Meanwhile, to turn the bias into a bullish one, USD/CHF needs to break through the resistance area at 0.93160 towards the next resistance level at 0.93690.

Suggest : Buy 0.92806 TP1 0.93160 TP2 0.9369 SL 0.92310

USDJPY

Daily Technical Analysis for the USD/JPY pair on the 1-hour period tried to move down, touching the 135.434 support area towards the next support level at 134.640. However, the RSI which is already in the oversold area will limit the decline. Meanwhile, to continue the bullish bias, USD/JPY needs to break through the resistance area at 136,958 towards the next resistance level at 137,440.

Suggest : Buy 135.434 TP1 136.040 TP2 136.690 SL 134.640

XUL (LOCO LONDON GOLD)

Daily technical analysis for gold price on the 1-hour period is trying to move upwards touching the resistance area of 1838.91 towards the next resistance level at 1846.50. With the MA25 line crossing the MA50 line from below indicates an increase. However, the RSI, which is already in the overbought area, will limit the increase. Meanwhile, to turn the bias bearish, gold needs to break through the support area at 1827.68 towards the next support level at 1822.80.

Suggest : Sell 1840.00 – 1843.00 TP1 1833.80 TP2 1827.68 SL 1846.50

CLSK (OIL)

Daily Technical Analysis Oil prices in the 1-hour period tried to rebound to test the resistance area of 75.84 towards the next resistance level at 76.31 which can be seen from the RSI which is already in the oversold area. Meanwhile, for further bearish bias, oil prices need to cross the 74.76 support level towards the next support at 73.69.

Suggest : Buy 75.84 TP1 76.31 TP2 77.21 SL 74.76

So, that's the explanation of "Technical Daily Analysis: March 10, 2023 – Greenback Under Pressure". Also read our other articles, such as an explanation of how to buy cryptocurrencies, only in the GIC Journal. Don't forget to practice your trading skills by getting the Scalping Ebook and following Live Trading on NFP Live Trading. Make sure, download GIC Mobile Apps on Google Play Store.

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