Bab 48 Market Analysis Articles August 17th
Market Analysis 17th August 2023
EURUSD
EURUSD moved lower on Wednesday and reach our support level as expected. Currently EURUSD running at 1.0880.
At 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 are expected that EURUSD might move lower for today and try to break our support level at 1.0874.
Resistance: 1.0941, 1.1046
Support: 1.0874, 1.0813
GOLD
Gold moves lower on Wednesday and able to move below our support level. Gold currently is running at $1,894.
At the time of writing, the four-hour Stochastic indicator is moving inside the oversold area, the price is moving below the 20-period moving average. We expect that Gold will moves higher and reach our resistance level at $1,901.
Resistance: $1,901, $1,912
Support: $1,892, $1,880
GBPUSD
GBPUSD moves higher on Wednesday and able to break our resistance level. Currently, GBPUSD is trading at 1.2730.
As of this writing, the four-hour Stochastic indicator is moving lower in the middle, the price is moving above the 20-period moving average. We expect GBPUSD to move higher and break our resistance level at 1.2743.
Resistance: 1.2743, 1.2785
Support: 1.2694, 1.2646
moves lower on Wednesday and able to break below our support level. SPXUSD currently is running at 4405. SPXUSD
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 that SPXUSD might moves higher today and reach above our resistance level at 4416.
Resistance: 4416, 4450
Support: 4384, 4347
USOUSD
USOUSD (WTI) moves lower on Wednesday and able to break our support level. Currently USOUSD is running at 78.82.
As of the time of writing, the four-hour Stochastic indicator is moving lower entering the oversold area, the price is now moving below the 20-period moving average. We expect that USOUSD to move slightly higher for today and try to reach our resistance level at 79.97.
Resistance: 79.97, 81.77
Support: 78.52, 77.12
Key events for today:
AUD Employment Change
AUD Unemployment Rate
USD Unemployment Claims