Technical Daily Analysis: March 9, 2023 – Greenback Moves Steadily

The following is a daily technical analysis, March 9, 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 in the 1-hour period tried to rebound to touch the resistance area of 1.05646 to the next resistance level at 1.06170 which can be seen from the RSI which is already in the oversold area and moving upwards. As for further bearishness, EUR/USD needs to break through the support area at 1.05238 towards the next support level at 1.04690.

Suggest : Buy 1.05646 TP1 1.06170 TP2 1.06500 SL 1.05238

GBPUSD

Daily Technical Analysis for the GBP/USD pair on the 1-hour period tried to rebound to touch the resistance area of 1.18593 to the next resistance level at 1.18880 which can be seen from the RSI which is already in the oversold area and moving upwards. As for further bearishness, GBP/USD needs to break through the support area at 1.18026 towards the next support level at 1.17760.

Suggest : Buy 1.18593 TP1 1.18880 TP2 1.19180 SL 1.18026

AUDUSD

AUD/USD in the 1-hour period tried to rebound to touch the resistance area of 0.66277 until the next resistance at 0.66530 which can be seen from the RSI which is already in the oversold area and moving upwards. For further bearishness, AUD/USD needs to cross the support area at 0.65672 towards the next support level at 0.65310.

Suggest : Buy 0.66277 TP1 0.66530 TP2 0.66780 SL 0.65920

USDCHF

Daily Technical Analysis for the USD/CHF pair on the 1-hour period is trying to move down or a correction touches the 0.93883 support area towards the next support level at 0.93650 which can be seen from the RSI which is already in the overbought area. As for further bullishness, USD/CHF needs to break through the resistance area at 0.94206 towards the next resistance level at 0.94650.

Suggest : Sell 0.93883 TP1 0.93650 TP2 0.93420 SL 0.94150

USDJPY

USD/JPY in the 1-hour period tried to move down or correct to touch the support area of 136,471 until heading to the next support at 136,220 which can be seen from the RSI which is already in the overbought area. For further bullishness, USD/JPY needs to break through the resistance area at 137,431 towards the next resistance level at 137,900.

Suggest : Sell 136.471 TP1 136.220 TP2 136.000 SL 137.060

XUL (LOCO LONDON GOLD)

Daily Technical Analysis for Gold Price in the 1-hour period tried to rebound to touch the resistance area of 1824.12 to the next resistance level at 1829.90 which can be seen from the RSI which is already in the oversold area and moving upwards. Meanwhile, for further bearishness, the gold price needs to pass through the support area at 1809.07 towards the next support level at 1800.30.

Suggest : Buy 1824.12 TP1 1829.90 TP2 1835.70 SL 1815.10

CLSK (OIL)

Oil prices in the 1-hour period tried to rebound to test the resistance area of 77.37 towards the next resistance level at 78.38 which can be seen from the RSI which is already in the oversold area and moving upwards. Meanwhile, for a further bearish bias, oil prices need to cross the 76.09 support level towards the next support at 75.16.

Suggest : Buy 77.37 TP1 78.00 TP2 78.38 SL 76.77

So, that's the explanation of "Technical Daily Analysis: March 9, 2023 – Greenback Moves Steadily". 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.