فصل 26 Market Analysis Articles May 5th
Market Analysis 5th May 2023
EURUSD
EURUSD moves in high volatility as the ECB released their interest rates, able to move as low as our support level at 1.0986 and move back slightly higher. EURUSD currently running at 1.1030.
At the time of writing, the four-hour Stochastic indicator is moving lower near the oversold area, the price is moving just ABOVE the 20-period moving average. We are expected that EURUSD will move back higher and reach our resistance levels at 1.1051.
Resistance: 1.1051, 1.1073
Support: 1.1015, 1.0986
GOLD
Gold is not moving much on Thursday and keep between our support and resistance levels. Gold currently is running at $2,049.
At the time of writing, the four-hour Stochastic indicator is moving in the middle, showing some neutral trend. The price is still moving ABOVE the 20-period moving average. We expect that Gold will be keep consolidating between our support and resistance levels.
Resistance: $2,068, $2,058
Support: $2,046, $2,033
GBPUSD
GBPUSD were in consolidating but still around our resistance level. Currently, GBPUSD is trading at 1.2592 just below our resistance level at 1.2598.
As of this writing, the four-hour Stochastic indicator is moving lower near the overbought level. The price is still moving ABOVE the 20-period moving average. We expect GBPUSD to continue to move higher for today and try to reach above our resistance level at 1.2598.
Resistance: 1.2598, 1.2656
Support: 1.2544, 1.2495
SPXUSD
SPXUSD moved lower and reach our support level at 4050 as expected. SPXUSD currently is running at 4075.
As of this writing, the four-hour Stochastic indicator is moving higher just above the oversold area, and the price is moving BELOW the 20-period moving average. We expect that SPXUSD might move slightly higher and reach our resistance level at 4092.
Resistance: 4092, 4114
Support: 4070, 4050
USOUSD
USOUSD (WTI) moves flat but able to reach our resistance level at 69.73 as expected. Currently USOUSD is trading at 68.64.
As of the time of writing, the four-hour Stochastic indicator is moving lower near the overbought area, the price is still moving BELOW the 20-period moving average. We expect that USOUSD to move slightly higher and reach back our resistance level at 69.73.
Resistance: 69.73, 72.66
Support: 66.85, 64.76
Key event for the day:
CHF Consumer Price Index
CAD Employment Change
CAD Unemployment Rate
USD Average Hourly Earnings
USD Non-Farm Employment Change
USD Unemployment Rate
