Daily Technical Analysis: 25 September 2023 – US Dollar Likely to Correct

This is the daily technical analysis for September 25, 2023. The data and analysis in this bulletin can be widely used for your trading. However, it is important to note that GICTrade and the data providers are not responsible for the results of your trading.

Thus, it is your own responsibility. Before checking today's technical analysis, register yourself immediately to join GIC Big Deals, which offers exclusive benefits and various exciting prizes. This event is only available for a limited time, from July 10 to December 31, 2023.

Below, we will provide you with the price movement forecast for Forex and Commodities, complete with Pivot point calculations, Resistance, and Support levels.

EURUSD



The daily technical analysis for the EUR/USD pair on the 1-hour period shows a downward movement, touching the support level at 1.06200 and potentially heading to the next support level at 1.05880. The downtrend is also reflected in the FXBot template, where the EUR figure is lower at 7.8 compared to the USD figure of 3.0. Meanwhile, the bearish bias is supported by a sell signal indicated by a green arrow.

Suggest: Buy 1.06200 TP1 1.064500 TP2 1.06770 SL 1.06000

GBPUSD



The GBP/USD pair on the 1-hour period is attempting to move down, touching the support level at 1.22310 and potentially heading to the next support level at 1.21980. The downtrend is also visible in the FXBot template, where the GBP figure is lower at 5.2 compared to the USD figure of 7.8. Meanwhile, the bearish bias is further supported by a sell signal indicated by a red arrow.

Suggest: Buy 1.22310 TP1 1.22620 TP2 1.22950 SL 1.21980

AUDUSD

The AUD/USD pair on the 1-hour period is attempting to move down, touching the support level at 0.63950 and potentially heading to the next support level at 0.63680. The downtrend is also supported by the FXBot template, where the AUD figure is lower at 1.0 compared to the USD figure of 7.8. Meanwhile, the bearish bias is further confirmed by a sell signal indicated by a red arrow.

Suggest: Buy 0.64000 TP1 0.64290 TP2 0.64560 SL 0.63800

USDCHF



The daily technical analysis for the USD/CHF pair on the 1-hour period shows an upward movement, touching the resistance level at 0.90820 and potentially heading to the next resistance level at 0.91010. The uptrend is also reflected in the FXBot template, where the CHF figure is lower at 2.5 compared to the USD figure of 7.8. Meanwhile, the bullish bias is supported by a buy signal indicated by a green arrow.

Suggest: Sell 0.90820 TP1 0.90540 TP2 0.90350 SL 0.91100

USDJPY



The USD/JPY pair on the 1-hour period is attempting to move up, touching the resistance level at 148.860 and potentially heading to the next resistance level at 149.320. The uptrend is also supported by the FXBot template, where the JPY figure is lower at 6.5 compared to the USD figure of 7.7. Meanwhile, the bullish bias is further supported by a buy signal indicated by a green arrow.

Suggest: Sell 148.410 TP1 148.100 TP2 147.950 SL 148.650

XUL (LOCO LONDON GOLD)

The price of gold on the 1-hour period is attempting to move down, touching the support level at 1917.00 and potentially heading to the next support level at 1913.10. Meanwhile, the bearish bias is further supported by a sell signal indicated by a red arrow.

Suggest: Buy 1915.00 TP1 1917.50 TP2 1920.00 SL 1912.00

CLSK (OIL)

The daily technical analysis for oil prices on the 1-hour period indicates an attempt to move up, needing to break through the resistance level at 91.32 to potentially reach the next resistance level at 92.31. For a bearish bias, oil prices would need to drop below the support level at 89.32 to target the next support level at 88.31.

Suggest: Buy 90.31 TP1 90.70 TP2 91.00 SL 89.80