Technical Daily Analysis: July 14, 2023 – US CPI Falls, Dollar Rebounds

The following is a technical daily analysis, July 14, 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 downwards, touching the support level at 1.12000 to the next support level at 1.11270. The downward trend can also be seen from the FXBot template, where the EUR figure is lower by 3.8 than the USD figure of 7.4. While the bearish bias is also supported by a sell signal indicated by a red arrow.

Suggest: Sell 1.12000 TP1 1.11700 TP2 1.11270 SL 1.12300

GBPUSD

GBP/USD on the 1-hour period tried to move down, touching the support level at 1.30950 until heading to the next support level at 1.30610. The downward trend is also confirmed from the FXBot template, where the GBP figure is lower by 5.2 than the USD figure of 7.5. While the bearish bias is also supported by a sell signal indicated by a red arrow.

Suggest: Sell 1.31000 TP1 1.30700 TP2 1.30500 SL 1.31400

 AUDUSD

AUD/USD on the 1-hour period tried to move down, touching the support level at 0.68600 until heading towards the next support level at 0.68350. The downward trend can also be seen from the FXBot template, where the AUD figure is lower by 7.7 than the USD figure of 7.7. While the bearish bias is also supported by a sell signal indicated by a red arrow.

Suggest: Sell 0.68600 TP1 0.68300 TP2 0.68000 SL 0.68930

USDCHF

The daily analysis of the 1-hour USD/CHF pair is trying to move upwards, touching the resistance level at 0.85830 to the next resistance level at 0.86280. The upward trend can also be seen from the FXBot template, where the CHF figure is lower by 6.5 than the USD figure of 7.8. While the bullish bias is also supported by a buy signal indicated by a green arrow.

Suggest: Buy 0.85830 TP1 0.86050 TP2 0.86280 SL 0.85500

USDJPY

USD/JPY on the 1-hour period tried to move up, touching the resistance level at 138,350 again to the next resistance level at 138,780. The upward trend can also be seen from the FXBot template, where the JPY figure is 0.5 lower than the USD figure of 7.8.  While the bullish bias is also supported by a buy signal indicated by a green arrow.

Suggest: Buy 138.350 TP1 138.600 TP2 138.780 SL 138.000

 XUL (LOCO LONDON GOLD)

Gold prices in the 1-hour period tried to move down, touching the support level at 1952.50 to the next support level at 1946.80. While the bearish bias is also supported by a sell signal indicated by a red arrow.

Suggest: Sell 1952.50 TP1 1946.80 TP2 1941.30 SL 1957.90

CLSK (OIL)

Daily technical analysis for oil prices in the 1-hour period is trying to move down, it needs to pass the support level at 76.12 to reach the next support level at 75.00. Meanwhile, to continue the bullish bias, oil prices need to pass the resistance level at 77.30 to reach the next resistance level at 77.93.

Suggest: Sell 76.12 TP1 75.60 TP2 75.00 SL 76.62

Well, that's the explanation of "Technical Daily Analysis: July 14, 2023 – US Jobless Claims Drop, Dollar Rebound". 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.