Below is the technical daily analysis for January 9, 2024. The data and analysis in this bulletin can be widely used for your trading. However, it is important to note that GICTrade and data providers are not responsible for your trading results.
 
We will provide forecasts for price movements in Forex and Commodities, complete with Pivot point, Resistance, and Support levels.
 
EURUSD
EUR/USD on the 1-hour timeframe is attempting to move down, touching the support level at 1.09460, heading toward the next support level at 1.09130. The downtrend is also visible from the template, where the potential percentage decline is greater than the percentage increase. Meanwhile, the bearish bias is supported by a sell signal indicated by the purple arrow.

Suggest: Sell 1.09690 TP1 1.09460 TP2 1.09130 SL 1.09900

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

1.09326

1.09789

1.09227

1.09504

1.09391

0.00113

0.10%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

1.10260

1.10020

1.09690

1.09460

1.09130

1.08900

1.08570

 

GBPUSD

GBP/USD on the 1-hour timeframe is attempting to move down, touching the support level at 1.27220, heading toward the next support level at 1.26770. The trend shows an upward movement visible from the template, where the potential percentage increase is greater than the percentage decline. Meanwhile, the bearish bias is supported by a sell signal indicated by the purple arrow.

Suggest: Sell 1.27700 TP1 1.27400 TP2 1.27200 SL 1.28000

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

1.26980

1.27672

1.26736

1.27479

1.27165

0.00314

0.25%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

1.28640

1.28160

1.27700

1.27220

1.26770

1.26280

1.25830

 

AUDUSD


AUD/USD on the 1-hour timeframe is attempting to move down, touching the support level at 0.66870, heading toward the next support level at 0.66540. The downtrend is also visible from the template, where the potential percentage decline is greater than the percentage increase. Meanwhile, the bearish bias is supported by a sell signal indicated by the purple arrow.

Suggest: Sell 0.67110 TP1 0.66870 TP2 0.66540 SL 0.67440

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

0.67139

0.67346

0.66776

0.67194

0.67138

0.00056

0.08%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

0.68010

0.67680

0.67440

0.67110

0.66870

0.66540

0.66300

 

USDCHF

USD/CHF on the 1-hour timeframe is attempting to move up, touching the resistance level at 0.84900, heading toward the next resistance level at 0.85200. The trend shows a downtrend visible from the template, where the potential percentage decline is greater than the percentage increase. Meanwhile, the bullish bias is supported by a buy signal indicated by the blue arrow.

Suggest: Buy 0.84590 TP1 0.84900 TP2 0.85200 SL 0.84290

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

0.84993

0.85214

0.84604

0.84801

0.85040

-0.00239

-0.28%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

0.85810

0.85510

0.85200

0.84900

0.84590

0.84290

0.83980

 

USDJPY

USD/JPY on the 1-hour timeframe is attempting to move up, touching the resistance level at 144.310, heading toward the next resistance level at 144.960. The uptrend is also visible from the template, where the potential percentage increase is greater than the percentage decline. Meanwhile, the bullish bias is supported by a buy signal indicated by the blue arrow.

Suggest: Buy 143.700 TP1 144.000 TP2 144.310 SL 143.400

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

144.441

144.923

143.661

144.234

144.716

-0.482

-0.33%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

146.220

145.570

144.960

144.310

143.700

143.050

142.440

 

XUL (LOCO LONDON GOLD)

Gold prices on the 1-hour timeframe are attempting to move down, touching the support level at 2021.60, heading toward the next support level at 2004.30. The uptrend is visible from the template, where the potential percentage increase is greater than the percentage decline. Meanwhile, the bearish bias is supported by a sell signal indicated by the purple arrow.

Suggest: Sell 2051.40 TP1 2041.40 TP2 2031.40 SL 2055.40

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

2044.36

2046.63

2016.83

2028.64

2044.80

-16.16

-0.79%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

2081.20

2063.90

2051.40

2034.10

2021.60

2004.30

1991.80

 

CLSK (OIL)

Oil prices on the 1-hour timeframe are attempting to move up, needing to break through the resistance level at 71.67, heading toward the next resistance level at 73.22. Meanwhile, for a bearish bias, oil prices need to break through the support level at 69.42, heading toward the next support level at 67.87.

Suggest: Buy 70.80 TP1 71.30 TP2 71.67 SL 70.45

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

73.63

73.92

70.12

70.97

73.90

-2.93

-3.96%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

77.02

75.47

73.22

71.67

69.42

67.87

65.62

 

That concludes the explanation of the “Daily Technical Analysis: January 9, 2024 – U.S. Dollar Consolidates.” Be sure to check out our other articles, such as guides on how to buy cryptocurrency, exclusively in the GIC Journal. Don’t forget to enhance your trading skills by getting our Scalping Ebook guide and participating in Live Trading at NFP Live Trading. Make sure to download the GIC Mobile App from the Google Play Store.