Technical Daily Analysis: April 10, 2023 – Positive US Employment Data

The following is a technical daily analysis, April 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 is still in a downtrend and needs to break through the 100 Fibo support level at 1.08834 to fall further towards the next support level at 1.08580. Meanwhile, to turn the bias into a bullish one, EUR/USD needs to break through the resistance area at 1.09042 which is also the 61.8 Fibo level towards the next resistance level at 1.09340.

Suggest: Sell 1.08834 TP1 1.08580 TP2 1.08390 SL 1.09042

GBPUSD

GBP/USD on the 1-hour period is still in a downtrend and needs to break through the 100 Fibo support level at 1.23886 to fall further towards the next support level at 1.23590. Meanwhile, to turn the bias to bullish, then, GBP/USD needs to break through the resistance area at 1.24330 towards the next resistance level at 1.24630.

Suggest: Sell 1.23886 TP1 1.23590 TP2 1.23300 SL 1.24260

AUDUSD

AUD/USD in the 1-hour period tried to move down, testing the 0.66403 support area until heading towards the next support level at 0.66140. As for the bullish bias, AUD/USD needs to cross the resistance area at 0.66737 towards the next resistance level at 0.67140.

Suggest: Sell 0.66403 TP1 0.66140 TP2 0.65870 SL 0.66737

USDCHF

USD/CHF on the 1-hour period tried to move up touching the resistance area of 0.90807 which is also the 100 Fibo level towards the next resistance level at 0.91120. Meanwhile, for the bearish bias to return, USD/CHF needs to break through the support area at 0.90467 which is also the 38.2 Fibo area towards the next support level at 0.90170.

Suggest: Buy 0.90807 TP1 0.91120 TP2 0.91300 SL 0.90490

USDJPY

USD/JPY on the 1-hour period is in an uptrend, for further bullish bias it needs to break through the resistance level of 132,957 to reach the next resistance level at 133,230. Meanwhile, to turn the bias bearish, USD/JPY needs to break through the support area at 132.372 and return to the next support level at 131.950.

Suggest: Sell 132.372 TP1 131.950 TP2 131.530 SL 132.800

XUL (LOCO LONDON GOLD)

Gold prices in the 1-hour period tried to move further down, touching the 1986.50 support area which is also the 261.8 Fibo level which is the area for a reversal. Meanwhile, to turn the bias into bullish, the gold price needs to pass through the resistance area at 1999.50 which is the 161.8 Fibo level to the next resistance level at 2012.20.

Suggest: Buy 1999.50 TP1 2003.20 TP2 2012.20 SL 1991.70

CLSK (OIL)

Oil prices in the 1-hour period moved up, trying to test the resistance area of 81.20 until heading towards the next resistance level at 81.65. Meanwhile, to change the bias to bearish, oil prices need to pass the 79.63 support level to the next support level at 79.03.

Suggest: Buy 81.20 TP1 81.65 TP2 82.36 SL 80.34

Well, that's the explanation of "Technical Daily Analysis: April 10, 2023 – Positive US Employment Data, US Dollar Rises". 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.