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Market Analysis 20th June 2023

EURUSD

EURUSD moves slower but still in low volatility on Monday and keep between our support and resistance levels. EURUSD currently running at 1.0916.

At the time of writing, the four-hour Stochastic indicator is moving flat in the middle near the oversold area, the price is moving just at the 20-period moving average. We are expected that EURUSD will move lower and try to reach our support level at 1.0892.

Resistance: 1.0982, 1.1034

Support: 1.0892, 1.0803

GOLD

Gold moves lower on Friday and able to break our support level and reach our 20-period moving average as expected. Gold currently is running at $1,949.

At the time of writing, the four-hour Stochastic indicator is moving just at the edge of the oversold area, the price is now moving below the 20-period moving average. We expect that Gold will move slightly lower for today and try to reach our support level at $1,939.

Resistance: $1,958, $1,972

Support: $1,939, $1,928

GBPUSD

GBPUSD moves lower to reach our support level as expected, but still between our support and resistance level. Currently, GBPUSD is trading at 1.2795.

As of this writing, the four-hour Stochastic indicator is crossing back higher after reaching the edge of the oversold area and the price is still moving above the 20-period moving average. We expect GBPUSD to slightly lower to try breaking our support level at 1.2768.

Resistance: 1.2850, 1.2981

Support: 1.2768, 1.2698

SPXUSD

SPXUSD moves flat on Monday as the US market is on holiday, still moving between our support and resistance levels. SPXUSD currently is running at 4401.

As of this writing, the four-hour Stochastic indicator is moves back higher just above the oversold area, the price is moving just around the 20-period moving average. We expect that SPXUSD might moves lower for today and reach our support level at 4391.

Resistance: 4426, 4462

Support: 4391, 4355

USOUSD

USOUSD (WTI) moves slightly higher on Monday and able to reach our resistance level, but end the day still between our support and resistance levels as expected. Currently USOUSD is running at 71.22.

As of the time of writing, the four-hour Stochastic indicator is moving lower in the middle, the price is still moving above the 20-period moving average. We expect that USOUSD to move slightly lower for today and try to reach our 20-period moving average at 70.77, but still between our support and resistance levels.

Resistance: 71.71, 73.30

Support: 70.12, 69.14