Technical Analysis: May 5, 2023 – Waiting for NFP News, Dollar Whats Happening??

The following is a technical daily analysis, May 5, 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 of the forecast of price movements in Forex and Commodities which is equipped with the calculation of Pivot Point levels, Resistance and Support

EURUSD

Daily technical analysis for the EUR/USD pair on the 1-hour period tried to move downwards to the support level at 1.102700 to the next support level at 1.09830. However, the downward trend is still quite weak as seen from the FXBot template, where the EUR figure is still higher by 3.0 than the USD figure of 1.7. While the bearish trend is also supported by sell signals indicated by red arrows.

Suggest: Sell 1.102700 TP1 1.09830 TP2 1.09500 SL 1.10600

GBPUSD

GBP/USD on the 1-hour period tried to move upwards touching the resistance level at 1.26210 until heading to the next resistance level at 1.26430. The upward trend can also be seen from the FXBot template, where the GBP figure is higher by 5.1 from the USD figure of 1.7. While the bullish bias is also supported by a buy signal indicated by a green arrow.

Suggest: Buy 1.26210 TP1 1.26430 TP2 1.26750 SL 1.25930

AUDUSD

Daily technical analysis for the AUD/USD pair on the 1-hour period tried to move further upwards, touching the resistance level at 0.67430 until the next resistance level at 0.67800. The upward trend can also be seen from the FXBot template, where the AUD figure is higher by 8.4 from the USD figure of 1.7.

Suggest: Buy 0.67430 TP1 0.67800 TP2 0.6800 SL 0.67150

USDCHF

Daily technical analysis for the USD/CHF pair on the 1-hour period is trying to move further downwards, needing to break through the support level at 0.88140 and towards the next support level at 0.87810. The downward trend can also be seen from the FXBot template, where the CHF figure is higher by 4.0 than the USD figure of 1.7.

Suggest: Sell 0.88140 TP1 0.87810 TP2 0.87430 SL 0.88520

USDJPY

Daily technical analysis for the USD/JPY pair on the 1-hour period is trying to move downwards, further need to break through the support level at 133.810 and head to the next support level at 132.960. The downward trend can also be seen from the FXBot template, where the JPY figure is higher by 5.0 than the USD figure of 2.0. While the bearish trend is also supported by sell signals indicated by red arrows.

Suggest: Sell 133.810 TP1 133.300 TP2 132.96 SL 134.100

XUL (LOCO LONDON GOLD)

Gold prices in the 1-hour period tried to move down, touching the 2042.00 support area until heading to the next support level at 2030.00. While the bearish trend is also supported by sell signals indicated by red arrows.

Suggest: Sell 2042.00 TP1 2030.00 TP2 2025.00 SL 2049.90

CLSK (OIL)

Daily technical analysis for oil prices in the 1-hour period tried to move up, testing the resistance area at 69.81 until heading to the next resistance level at 70.97. Meanwhile, to fall further, oil prices need to pass the support level at 68.34 to reach the next support level at 67.39.

Suggest: Buy 69.81 TP1 70.30 TP2 70.97 SL 69.30