Technical Daily Analysis: July 4, 2023 – Mixed Sentiment, US Dollar Slumps

The following is a technical daily analysis, July 4, 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 tried to move up, touching the resistance level at 1.09060 until heading to the next resistance level at 1.09420. The upward trend can also be seen from the FXBot template, where the EUR figure is higher by 2.5 than the USD figure of 2.2. While the bullish bias is also supported by a buy signal indicated by a green arrow.

Suggest: Buy 1.09060 TP1 1.09300 TP2 1.09420 SL 1.08790

GBPUSD

GBP/USD on the 1-hour period tried to move up, touching the resistance level at 1.27200 until the next resistance level at 1.27540. The upward trend can also be seen from the FXBot template, where the GBP figure is higher by 2.7 than the USD figure of 2.5. While the bullish bias is also supported by a buy signal indicated by a green arrow.

Suggest: Buy 1.27200 TP1 1.27540 TP2 1.27850 SL 1.26890

AUDUSD

AUD/USD on the 1-hour period moved up, trying to touch the resistance level at 0.66920 until heading towards the next resistance level at 0.67470. The upward trend can also be seen from the FXBot template, where the AUD figure is higher by 7.0 than the USD figure of 2.7. While the bullish bias is also supported by a buy signal indicated by a green arrow.

Suggest: Buy 0.66920 TP1 0.67190 TP2 0.67470 SL 0.66640

USDCHF

USD/CHF on the 1-hour period tried to move down, touching the support level at 0.89590 until heading towards the next support level at 0.89150. The downward trend can also be seen from the FXBot template, where the CHF figure is higher by 4.1 than the USD figure of 3.0. While the bearish bias is also supported by a sell signal indicated by a red arrow.

Suggest: Sell 0.89590 TP1 0.89300 TP2 0.89150 SL 0.89840

USDJPY

USD/JPY on the 1-hour period tried to move down, touching the support level at 144,450 to the next support level at 143,990. The downward trend can also be seen from the FXBot template, where the JPY figure is higher by 4.1 than the USD figure of 3.2.  While the bearish bias is also supported by a sell signal indicated by a red arrow.

Suggest: Sell 144.450 TP1 144.200 TP2 143.990 SL 144.700

XUL (LOCO LONDON GOLD)

Gold prices in the 1-hour period tried to move up, touching the resistance level at 1930.40 to the next resistance level at 1941.10. While the bullish bias is also supported by a buy signal indicated by a green arrow.

Suggest: Sell 1933.00 TP1 1928.00 TP2 1920.00 SL 1938.00

CLSK (OIL)

Oil prices in the 1-hour period are trying to move up, needing to cross the resistance level at 71.00 again to the next resistance level at 72.56. Meanwhile, for further bearish bias, oil prices need to pass the support level at 69.66 to reach the next support level at 68.44.

Suggest: Buy 71.00 TP1 71.50 TP2 72.00 SL 69.50

So, that's the explanation of "Technical Daily Analysis: July 4, 2023 – Mixed Sentiment, US Dollar Down". 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.