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Market Analysis 21st July 2023

EURUSD

EURUSD moves lower as expected and able to break our support level. Currently EURUSD running at 1.1137.

At the time of writing, the four-hour Stochastic indicator is moving inside 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 reach our support level at 1.1086.

Resistance: 1.1173, 1.1271

Support: 1.1086, 1.1015

GOLD

Gold able to reach above our resistance level as expected but then moves back lower near our support level. Gold currently is running at $1,972.

At the time of writing, the four-hour Stochastic indicator is moving lower targeting the oversold area, the price is moving just at the 20-period moving average. We expect that Gold will moves lower and reach our support level at $1,963.

Resistance: $1,982, $2,005

Support: $1,963, $1,938

GBPUSD

GBPUSD moves lower on Thursday and able to break our support level. Currently, GBPUSD is trading at 1.2972.

As of this writing, the four-hour Stochastic indicator is moving higher at the edge of the oversold area, the price is moving below the 20-period moving average. We expect GBPUSD to move slightly lower for today and reach below our support level at 1.2845.

Resistance: 1.2970, 1.3064

Support: 1.2845, 1.2776

SPXUSD

SPXUSD moved lower on Thursday and able to reach above our support level. SPXUSD currently is running at 4534.

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 that SPXUSD might moves slightly higher today and reach above our 20-period moving average.

Resistance: 4562, 4586

Support: 4526, 4493

USOUSD

USOUSD (WTI) moves higher on Thursday as expected and reach our resistance level. Currently USOUSD is running at 75.82.

As of the time of writing, the four-hour Stochastic indicator is moving higher targeting 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 75.95.

Resistance: 75.95, 77.14

Support: 74.98, 73.78