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Market Analysis 19th June 2023

EURUSD

EURUSD moves in slow volatility on Friday and keep between our support and resistance levels. EURUSD currently running at 1.0941.

At the time of writing, the four-hour Stochastic indicator is moving lower targeting the oversold area, the price is still moving above 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 higher on Friday and able to reach our resistance level before goes back lower. Gold currently is running at $1,957.

At the time of writing, the four-hour Stochastic indicator is moving strongly lower targeting the oversold area, the price is still moving above at the 20-period moving average. We expect that Gold will move slightly lower for today and moves below our support level and reach our 20-period moving average at $1,950.

Resistance: $1,963, $1,972

Support: $1,953, $1,939

GBPUSD

GBPUSD continue to move slightly higher on Friday and able to reach our resistance level at 1.2850. Currently, GBPUSD is trading at 1.2822.

As of this writing, the four-hour Stochastic indicator is moving lower after exited the overbought area and the price is moving above the 20-period moving average. We expect GBPUSD to slightly lower to reach our support level at 1.2768.

Resistance: 1.2850, 1.2981

Support: 1.2768, 1.2698

SPXUSD

SPXUSD moves slightly lower on Friday, but still moving between our support and resistance levels. SPXUSD currently is running at 4411.

As of this writing, the four-hour Stochastic indicator is moves strongly lower targeting the oversold area, the price is moving above 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 Friday and able to reach our resistance level as expected. Currently USOUSD is running at 71.62.

As of the time of writing, the four-hour Stochastic indicator is moving just around the overbought area, the price is now moving above the 20-period moving average. We expect that USOUSD to move slightly lower for today but still between our support and resistance levels.

Resistance: 71.71, 73.30

Support: 70.12, 69.14