{x} | Trading.live

Market Analysis 1st August 2023

EURUSD

EURUSD moves slightly lower on Monday, still moving between our support and resistance levels. Currently EURUSD running at 1.0987.

At the time of writing, the four-hour Stochastic indicator is moving strongly lower entering the oversold area, the price is moving below the 20-period moving average. We are expected that EURUSD might move lower for today and try to reach our support level at 1.0942.

Resistance: 1.1037, 1.1108

Support: 1.0942, 1.0873

GOLD

Gold moves higher on Monday and able to reach our highest resistance level at $1,972. Gold currently is running at $1,963.

At the time of writing, the four-hour Stochastic indicator is moving lower just below the overbought area, the price is now moving above the 20-period moving average. We expect that Gold will moves lower and reach our support level at $1,960.

Resistance: $1,965, $1,972

Support: $1,960, $1,952

GBPUSD

GBPUSD moves slightly lower on Monday, but still between our support and resistance levels. Currently, GBPUSD is trading at 1.2828.

As of this writing, the four-hour Stochastic indicator is moving lower targeting the oversold area, the price is moving below the 20-period moving average. We expect GBPUSD to move slightly lower for today and reach our support level at 1.2773.

Resistance: 1.2873, 1.2960

Support: 1.2773, 1.2687

SPXUSD

SPXUSD moved higher on Monday and able to break our resistance level. SPXUSD currently is running at 4593.

As of this writing, the four-hour Stochastic indicator is moving strongly higher entering the overbought area, the price is now moving above the 20-period moving average. We expect that SPXUSD might moves slightly lower today and reach our support level at 4576.

Resistance: 4607, 4635

Support: 4576, 4553

USOUSD

USOUSD (WTI) moves higher on Monday and able to break our resistance level as expected. Currently USOUSD is running at 81.41.

As of the time of writing, the four-hour Stochastic indicator is moving inside the overbought area, the price is still moving above the 20-period moving average. We expect that USOUSD to move slightly higher for today and try to reach above our resistance level at 81.78.

Resistance: 81.78, 82.89

Support: 80.41, 79.12

Key events for Today

AUD    Cash Rate

AUD    RBA Rate Statement

USD    ISM Manufacturing PMI

USD    JOLTS Job Openings