Technical Daily Analysis: August 21, 2023 – Lack of Data, US Dollar?

The following is a technical daily analysis, August 21, 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 up, touching the resistance level at 1.08950 and heading to the next resistance level at 1.09180. The upward trend can also be seen from the FXBot template, where the EUR figure is higher by 8.1 than the USD figure of 4.2. While the bullish bias is also supported by a buy signal indicated by a green arrow.

Suggest: Buy 1.08800 TP1 1.09000 TP2 1.09180 SL 1.08600

GBPUSD

GBP/USD on the 1-hour period tried to move up, touching the resistance level at 1.27750 until heading to the next resistance level at 1.28080. The upward trend can also be seen from the FXBot template, where the GBP figure is higher by 5.4 than the USD figure of 4.4. While the bias is still bearish supported by sell signals indicated by red arrows.

Suggest: Buy 1.27500 TP1 1.27750 TP2 1.28080 SL 1.27300

AUDUSD

AUD/USD in the 1-hour period tried to move down, touching the support level at 0.64010 until heading towards the next support level at 0.63510. The downward trend can also be seen from the FXBot template, where the AUD figure is lower by 4.2 than the USD figure of 4.5. While the bearish bias is also supported by a sell signal indicated by a red arrow.

Suggest: Sell 0.64010 TP1 0.63750 TP2 0.63510 SL 0.64250

USDCHF

Daily technical analysis for the USD/CHF pair on the 1-hour period tried to move up, touching the resistance level at 0.88310 until the next resistance level at 0.88550. The upward trend can also be seen from the FXBot template, where the CHF figure is lower by 3.5 than the USD figure of 4.7. While the bullish bias is also supported by a buy signal indicated by a green arrow.

Suggest: Buy 0.88310 TP1 0.88550 TP2 0.88880 SL 0.88000

USDJPY

USD/JPY in the 1-hour period tried to move up, touching the resistance level at 146,030 until heading to the next resistance level at 146,410. The uptrend is also supported by the FXBot template, where the JPY figure is lower by 3.1 than the USD figure of 4.7.  While the bullish bias is also supported by a buy signal indicated by a green arrow.

Suggest: Sell 145.650 TP1 145.300 TP2 145.000 SL 146.000

XUL (LOCO LONDON GOLD)

Daily technical analysis for gold prices in the 1-hour period tried to move up, touching the resistance level at 1894.00 until the next resistance level at 1900.40. While the bullish bias is supported by a buy signal indicated by a green arrow.

Suggest: Sell 1895.00 TP1 1890.00 TP2 1885.00 SL 1900.00

CLSK (OIL)

Oil prices in the 1-hour period are trying to move up, needing to cross the resistance level at 81.79 to the next resistance level at 82.81. Meanwhile, to change the bias to bearish, oil prices need to pass the support level at 80.90 to reach the next support level at 80.02.

Suggest: Buy 81.79 TP1 82.30 TP2 82.81 SL 81.30

So, that's the explanation of "Technical Daily Analysis: August 21, 2023 – Minimal Data, Limited US Dollar Movement". 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 the Google Play Store.