فصل 33 Market Analysis Articles May 16th
Market Analysis 16th May 2023
EURUSD
EURUSD move slow and flat on Monday, consolidating between our support and resistance levels. EURUSD currently running at 1.0873.
At the time of writing, the four-hour Stochastic indicator is moving just below the oversold area, the price is still moving BELOW the 20-period moving average. We are expected that EURUSD will move slightly higher and reach above our new resistance level at 1.0884.
Resistance: 1.0884, 1.0930
Support: 1.0822, 1.0787
GOLD
Gold moves flat on Monday, just around our 20-period moving average. Gold currently is running at $2,014 in the middle with our current support and resistance levels.
At the time of writing, the four-hour Stochastic indicator is moving in the middle. The price is now moving around the 20-period moving average. We expect that Gold will still move on consolidating mode but will try to move higher to reach our resistance level at $2,023.
Resistance: $2,023, $2,036
Support: $2,003, $1,989
GBPUSD
GBPUSD moves higher on Monday and able to break our resistance level at 1.2500. Currently, GBPUSD is trading at 1.2527.
As of this writing, the four-hour Stochastic indicator is moving inside the overbought area. The price is moving just above the 20-period moving average. We expect GBPUSD to move slightly higher and reach our next resistance level at 1.2552.
Resistance: 1.2552, 1.2585
Support: 1.2498, 1.2448
SPXUSD
SPXUSD able to reach our support level on early Monday but then goes back higher and reach our resistance level to close the day. SPXUSD currently is running around our 20-period moving average at 4131.
As of this writing, the four-hour Stochastic indicator is moving just below the overbought level, and the price is now moving just around 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 higher on Monday and able to reach our resistance level at 71.41. Currently USOUSD is trading at 71.34.
As of the time of writing, the four-hour Stochastic indicator is moving inside the overbought area, the price is now moving just above the 20-period moving average. We expect that USOUSD to move higher and break our next resistance level at 71.75.
Resistance: 71.75, 73.78
Support: 69.39, 67.24
Key events for Today 16th May 2023:
GBP Claimant Count Change
CAD Consumer Price Index
USD Retail Sales
