Bab 21 Market Analysis Articles April 25
Market Analysis 25th April 2023
EURUSD
EURUSD moves higher on Monday as expected, able to break our resistance levels at 1.1026. EURUSD currently running at 1.1058.
At the time of writing, the four-hour Stochastic indicator is still moving inside the overbought level, and the price is still moving ABOVE the 20-period moving average. We are expected a slightly higher EURUSD for today to try reaching our next resistance level at 1.1073.
Resistance: 1.1073, 1.1131
Support: 1.1042, 1.1000
GOLD
Gold rose on Monday as expected and able to break our resistance level at $1,990. Gold currently is running at $1,996.
At the time of writing, the four-hour Stochastic indicator is moving higher entering the overbought level. The price is moving ABOVE the 20-period moving average. We expect that Gold might try to move higher to reach our resistance level at $2,005.
Resistance: $2,005, $2,018
Support: $1,988, $1,974
GBPUSD
GBPUSD were moving higher on Monday as expected and able to break above the previous resistance level at 1.2467. Currently, GBPUSD is trading at 1.2497.
As of this writing, the four-hour Stochastic indicator is moving inside the overbought level. The price is now moving ABOVE the 20-period moving average. We expect GBPUSD to move higher for today and try to reach above our next resistance level at 1.2502.
Resistance: 1.2502, 1.2525
Support: 1.2468, 1.2437
SPXUSD
SPXUSD still move in consolidation between our support and resistance levels but able slightly reach below our support level at 4119 as expected before goes back higher. SPXUSD currently is running at 4132.
As of this writing, the four-hour Stochastic indicator is moving higher near the overbought level, and the price is moving just above the 20-period moving average. We expect that SPXUSD will still moving in consolidation but slightly lower and reach back to the support level at 4119.
Resistance: 4140, 4157
Support: 4119, 4107
USOUSD
USOUSD (WTI) moves higher but still between our support and resistance levels. Currently USOUSD is trading at 78.72.
As of the time of writing, the four-hour Stochastic indicator is just entering the overbought level, and the price is moving above the 20-period moving average. We expect that USOUSD to continue to move slightly higher and reach our resistance level at 79.41.
Resistance: 79.41, 81.19
Support: 76.08, 74.06
Key event for the day:
NZD Bank Holiday
AUD Bank Holiday
EUR Italian Bank Holiday
USD CB Consumer Confidence