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Market Analysis 3rd July 2023

EURUSD

EURUSD moves higher on Friday and able to reach our resistance level as expected. Currently EURUSD running at 1.0912.

At the time of writing, the four-hour Stochastic indicator is trying to crossing back lower just below the overbought area, the price is moving just above the 20-period moving average. We are expected that EURUSD will move higher for today and try to reach our next resistance level at 1.0962.

Resistance: 1.0918, 1.0962

Support: 1.0865, 1.0811

GOLD

Gold moves higher on Friday and reach above our resistance level as expected. Gold currently is running at $1,917.

At the time of writing, the four-hour Stochastic indicator is moving inside the overbought area, the price is now moving above the 20-period moving average. We expect that Gold will move slightly lower for today and try to reach our support level at $1,911.

Resistance: $1,921, $1,931

Support: $1,911, $1,903

GBPUSD

GBPUSD moves higher on Friday and able to break our resistance level as expected. Currently, GBPUSD is trading at 1.2703.

As of this writing, the four-hour Stochastic indicator is moving lower just below the overbought area, the price is moving above the 20-period moving average. We expect GBPUSD to slightly higher for today and try to reach above our next resistance level at 1.2752.

Resistance: 1.2752, 1.2804

Support: 1.2685, 1.2626

SPXUSD

SPXUSD moves higher on Friday and able to break our resistance levels. SPXUSD currently is running at 4456.

As of this writing, the four-hour Stochastic indicator is moves flat inside the overbought area, the price is moving above the 20-period moving average. We expect that SPXUSD might moves slightly lower for today and reach our support level at 4415.

Resistance: 4456, 4513

Support: 4415, 4366

USOUSD

USOUSD (WTI) moves higher on Friday and able to break above our resistance levels as expected. Currently USOUSD is running at 70.72.

As of the time of writing, the four-hour Stochastic indicator is moving flat but higher near the overbought area, the price is moving above the 20-period moving average. We expect that USOUSD to continue to move higher for today and try to reach above our resistance level at 70.88.

Resistance: 70.88, 71.85

Support: 70.03, 68.94

Key events for Today:

CHF    Consumer Price Index

USD    ISM Manufacturing PMI