فصل 31 Market Analysis Articles May 12th
Market Analysis 12th May 2023
EURUSD
EURUSD move lower and able to break our support level on Thursday following positive PPI data from the US. EURUSD currently running at 1.0917.
At the time of writing, the four-hour Stochastic indicator is moving in the oversold area, the price is moving BELOW the 20-period moving average. We are expected that EURUSD will move slightly higher as this is the end of the week and reach our new resistance level at 1.0950.
Resistance: 1.0950, 1.0986
Support: 1.0911, 1.0881
GOLD
Gold moves lower on Thursday as the US released their PPI data better than expected and reach our support level at $2,013. Gold currently is running at $2,017.
At the time of writing, the four-hour Stochastic indicator is entering the oversold area. The price is now moving BELOW the 20-period moving average. We expect that Gold will move slightly higher for today to try reach our new resistance level at $2,023.
Resistance: $2,023, $2,036
Support: $2,010, $2,000
GBPUSD
GBPUSD moves strong higher movement due to BOE raise their interest rates, but back lower and break our support level affected by PPI data by the US. Currently, GBPUSD is trading at 1.2515.
As of this writing, the four-hour Stochastic indicator is moving inside the oversold area. The price is moving BELOW the 20-period moving average. We expect GBPUSD to move back higher for today and try to reach back new our resistance level at 1.2552.
Resistance: 1.2552, 1.2596
Support: 1.2484, 1.2435
SPXUSD
SPXUSD moved lower and able to reach our support level at 4115 before goes back higher. SPXUSD currently is running at 4135, just below our resistance level at 4141.
As of this writing, the four-hour Stochastic indicator is moving in the middle, and the price is now moving ABOVE the 20-period moving average. We expect that SPXUSD might move slightly higher and reach our current resistance level at 4141.
Resistance: 4141, 4171
Support: 4115, 4094
USOUSD
USOUSD (WTI) moves flat on Thursday but able to move lower and reach our support level at 70.91. Currently USOUSD is trading at 71.31.
As of the time of writing, the four-hour Stochastic indicator is moving lower targeting the oversold area, the price is now moving BELOW the 20-period moving average. We expect that USOUSD to move higher and try to reach our 20-period moving average.
Resistance: 74.41, 76.68
Support: 70.91, 68.44
Key events for Today 12th May 2023:
NZD Inflation Expectations
GBP Gross Domestic Product
USD Prelim UoM Consumer Sentiment
