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Market Analysis 27th June 2023

EURUSD

EURUSD moves flat with low volatility on Monday and still above our support level. Currently EURUSD running at 1.0911.

At the time of writing, the four-hour Stochastic indicator is moving lower just after exited the overbought level, the price is still moving below the 20-period moving average. We are expected that EURUSD will move higher for today and try to reach above our 20-period moving average at 1.0923.

Resistance: 1.0982, 1.1034

Support: 1.0892, 1.0803

GOLD

Gold moves slightly higher on Monday and able to reach above $1,925 as expected before goes back lower. Gold currently is running at $1,925.

At the time of writing, the four-hour Stochastic indicator is moving lower just above the oversold area, the price is moving above the 20-period moving average. We expect that Gold will move higher for today and try to reach above our resistance level at $1,928.

Resistance: $1,928, $1,939

Support: $1,921, $1,912

GBPUSD

GBPUSD moves slightly higher on Monday and able to reach above our tight resistance level as expected before goes back lower. Currently, GBPUSD is trading at 1.2714.

As of this writing, the four-hour Stochastic indicator is moving lower in the middle from the overbought area, the price is still moving below the 20-period moving average. We expect GBPUSD to slightly higher for today and try to reach above our tight resistance level at 1.2727.

Resistance: 1.2727, 1.2773

Support: 1.2694, 1.2644

SPXUSD

SPXUSD moves lower but in low volatility on Monday and able to break our support level. SPXUSD currently is running at 4336.

As of this writing, the four-hour Stochastic indicator is moves lower just above the oversold area, the price is moving below the 20-period moving average. We expect that SPXUSD might moves slightly higher for today and reach our resistance level at 4349.

Resistance: 4349, 4381

Support: 4332, 4303

USOUSD

USOUSD (WTI) moves flat on Monday but able to reach our resistance level as expected. Currently USOUSD is running at 69.66.

As of the time of writing, the four-hour Stochastic indicator is moving slower just below the overbought area, the price is still moving below the 20-period moving average. We expect that USOUSD to move slightly lower for today and try to reach our support level at 69.14.

Resistance: 70.06, 71.12

Support: 69.14, 68.26

Key events for Today:

CAD    CPI m/m

CAD    Median CPI y/y

CAD    Trimmed CPI y/y

USD    CB Consumer Confidence