Here is the daily technical analysis for January 26, 2024. The data and analysis in this bulletin can be broadly used for your trading. However, it should be noted that GICTrade and the data provider are not responsible for your trading results.
 
We will provide information on price movement forecasts in Forex and Commodity, complete with calculations of Pivot point levels, Resistance, and Support.
 
EURUSD
EUR/USD on the 1-hour period is trying to move down, touching the support level at 1.07830 and heading towards the next support level at 1.07440. The downward trend is also visible from the template, where the potential percentage decrease is higher than the percentage increase. Meanwhile, the bearish bias is supported by the sell signal indicated by the purple arrow.

Suggest: Sell 1.08240 TP1 1.07830 TP2 1.07440 SL 1.08630

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

1.08823

1.09019

1.08218

1.08459

1.08846

-0.00387

-0.36%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

1.09840

1.09430

1.09040

1.08630

1.08240

1.07830

1.07440

 

GBPUSD

GBP/USD on the 1-hour period is trying to move down, touching the support level at 1.26810 and heading towards the next support level at 1.26510. The downward trend is also visible from the template, where the potential percentage decrease is higher than the percentage increase. Meanwhile, the bearish bias is supported by the sell signal indicated by the purple arrow.

Suggest: Sell 1.27120 TP1 1.26810 TP2 1.26510 SL 1.27420

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

1.27160

1.27428

1.26817

1.27078

1.27244

-0.00166

-0.13%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

1.28030

1.27730

1.27420

1.27120

1.26810

1.26510

1.26200

 

AUDUSD

AUD/USD on the 1-hour period is trying to move down, touching the support level at 0.65560 and heading towards the next support level at 0.65390. The downward trend is also visible from the template, where the potential percentage decrease is higher than the percentage increase. Meanwhile, the bearish bias is supported by the sell signal indicated by the purple arrow.

Suggest: Sell 0.66000 TP1 0.65800 TP2 0.65560 SL 0.66270

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

0.65699

0.66099

0.65662

0.65847

0.65769

0.00078

0.12%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

0.66440

0.66270

0.66000

0.65830

0.65560

0.65390

0.65120

 

USDCHF

USD/CHF on the 1-hour period is trying to move up, touching the resistance level at 0.87140 and heading towards the next resistance level at 0.87430. The upward trend is also visible from the template, where the potential percentage increase is higher than the percentage decrease. Meanwhile, the bullish bias is supported by the buy signal indicated by the blue arrow.

Suggest: Buy 0.86780 TP1 0.87140 TP2 0.87430 SL 0.86490

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

0.86225

0.86849

0.86199

0.86701

0.86277

0.00424

0.49%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

0.87430

0.87140

0.86780

0.86490

0.86130

0.85840

0.85480

 

USDJPY

USD/JPY on the 1-hour period is trying to move up, touching the resistance level at 147.940 and heading towards the next resistance level at 148.370. The upward trend is also visible from the template, where the potential percentage increase is higher than the percentage decrease. Meanwhile, the bullish bias is supported by the buy signal indicated by the blue arrow.

Suggest: Buy 147.510 TP1 147.940 TP2 148.370 SL 147.080

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

147.347

147.942

147.085

147.662

147.513

0.149

0.10%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

148.790

148.370

147.940

147.510

147.080

146.650

146.220

 

XUL (LOCO LONDON GOLD)

Gold prices on the 1-hour period are trying to move down, touching the support level at 2017.50 and heading towards the next support level at 2009.70. The downward trend is also visible from the template, where the potential percentage decrease is higher than the percentage increase. Meanwhile, the bearish bias is supported by the sell signal indicated by the purple arrow.

Suggest: Sell 2030.00 TP1 2025.00 TP2 2015.00 SL 2035.00

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

2014.97

2025.29

2009.68

2019.95

2012.41

7.54

0.37%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

2040.90

2033.10

2025.30

2017.50

2009.70

2001.90

1994.10

 

CLSK (OIL)


Oil prices on the 1-hour period are trying to move down, needing to pass the support level at 76.59 and heading towards the next support level at 75.70. Meanwhile, for a bullish bias, oil prices need to break through the resistance level at 78.03 and head towards the next resistance level at 78.92.

Suggest: Buy 76.50 TP1 77.00 TP2 77.50 SL 76.00

PREVIOUS RANGE

OPEN

HIGH

LOW

CLOSE

PREV.CLOSE

CHANGE

%CHANGE

75.28

77.48

75.15

77.15

75.31

1.84

2.44%

DAILY PIVOT POINT

R3

R2

R1

PIVOT

S1

S2

S3

80.36

78.92

78.03

76.59

75.70

74.26

73.37

 

So, that concludes the explanation of the "Daily Technical Analysis: January 26, 2024 – Ahead of PCE, Limited Forex Movement." Also, check out our other articles, such as the explanation of how to buy cryptocurrency, exclusively on the GIC Journal. Don’t forget to hone your trading skills by getting the Scalping Ebook guide and participating in Live Trading at NFP Live Trading. Be sure to download the GIC Mobile Apps from the Google Play Store.