Here is the technical daily analysis for December 7, 2023. The data and analysis in this bulletin can be widely used for your trading. However, it is important to note that GICTrade and the data providers are not responsible for your trading results.
 
Below, we will provide forecasts for price movements in Forex and Commodities, along with Pivot point calculations, Resistance, and Support levels.
 

EURUSD


EUR/USD in the 1-hour period is attempting to rise, touching the resistance level at 1.07810 before moving toward the next resistance level at 1.08030. The upward trend is also visible from the template, where the potential percentage increase is higher than the percentage decrease. Meanwhile, the bullish bias is supported by a buy signal indicated by the blue arrow.

Suggest: Buy 1.07810 TP1 1.08030 TP2 1.08270 SL 1.07580

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

1.07955

1.08045

1.07587

1.07642

1.07977

-0.00335

-0.31%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

1.08490

1.08270

1.08030

1.07810

1.07580

1.07350

1.07120

 

GBPUSD

GBP/USD in the 1-hour period is attempting to rise, touching the resistance level at 1.26060 before moving toward the next resistance level at 1.26410. The upward trend is also visible from the template, where the potential percentage increase is higher than the percentage decrease. Meanwhile, the bullish bias is supported by a buy signal indicated by the blue arrow.

Suggest: Buy 1.25790 TP1 1.26060 TP2 1.26410 SL 1.25440

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

1.25899

1.26138

1.25519

1.25594

1.25951

-0.00357

-0.28%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

1.26680

1.26410

1.26060

1.25790

1.25440

1.25170

1.24820

 

AUDUSD

AUD/USD in the 1-hour period is attempting to rise, touching the resistance level at 0.65780 before moving toward the next resistance level at 0.66160. The upward trend is also visible from the template, where the potential percentage increase is higher than the percentage decrease. Meanwhile, the bullish bias is supported by a buy signal indicated by the blue arrow.

Suggest: Buy 0.65590 TP1 0.65780 TP2 0.66160 SL 0.65210

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

0.65508

0.65974

0.65400

0.65485

0.65524

-0.00039

-0.06%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

0.66350

0.66160

0.65780

0.65590

0.65210

0.65020

0.64630

 

USDCHF

USD/CHF in the 1-hour period is attempting to decline, touching the support level at 0.87320 before moving toward the next support level at 0.87150. The downward trend is also visible from the template, where the potential percentage decrease is higher than the percentage increase. Meanwhile, the bearish bias is supported by a sell signal indicated by the purple arrow.

Suggest: Sell 0.87460 TP1 0.87320 TP2 0.87150 SL 0.87630

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

0.87465

0.87600

0.87291

0.87477

0.87491

-0.00014

-0.02%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

0.87940

0.87770

0.87630

0.87460

0.87320

0.87150

0.87010

 

USDJPY

USD/JPY in the 1-hour period is attempting to decline, touching the support level at 145.000 before moving toward the next support level at 144.500. The downward trend is also visible from the template, where the potential percentage decrease is higher than the percentage increase. Meanwhile, the bearish bias is supported by a sell signal indicated by the purple arrow.

Suggest: Buy 145.300 TP1 145.600 TP2 146.000 SL 145.000

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

147.137

147.500

146.896

147.308

147.152

0.156

0.11%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

148.130

147.810

147.520

147.210

146.920

146.610

146.320

 

XUL (LOCO LONDON GOLD)

The gold price in the 1-hour period is attempting to rise, touching the resistance level at 2043.20 before moving toward the next resistance level at 2050.60. The upward trend is also visible from the template, where the potential percentage increase is higher than the percentage decrease. Meanwhile, the bullish bias is supported by a buy signal indicated by the blue arrow.

Suggest: Buy 2031.00 TP1 2036.00 TP2 2040.00 SL 2028.00

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

2019.35

2035.87

2017.23

2025.96

2019.39

6.57

0.33%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

2050.60

2043.20

2032.00

2024.60

2013.30

2006.00

1994.70

 

CLSK (OIL)

The oil price in the 1-hour period is attempting to rise, needing to pass the resistance level at 70.28 before moving toward the next resistance level at 71.47. For a bearish bias, the oil price must break through the support level at 67.99 before moving toward the next support level at 66.80.

Suggest: Buy 69.80 TP1 70.28 TP2 70.70 SL 69.30

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

72.07

72.57

69.09

69.17

72.43

-3.26

-4.50%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

74.95

73.76

71.47

70.28

67.99

66.80

64.51

 

That concludes the explanation of “Technical Daily Analysis: December 7, 2023 – Ahead of NFP, US Dollar Corrects.” Be sure to check out our other articles, such as the guide on how to buy cryptocurrency, only on GIC Journal. Don’t forget to hone your trading skills by getting the Ebook Scalping guide and participating in Live Trading during NFP Live Trading. Make sure to download the GIC Mobile Apps on the Google Play Store.