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Market Analysis 5th July 2023

EURUSD

EURUSD moves slightly lower on Tuesday as the market is in low volatility as the US Market holiday. Currently EURUSD running at 1.0886.

At the time of writing, the four-hour Stochastic indicator is moving lower entering the oversold area, the price is moving just below the 20-period moving average. We are expected that EURUSD will move higher for today and try to reach our next resistance level at 1.0918.

Resistance: 1.0918, 1.0962

Support: 1.0865, 1.0811

GOLD

Gold moves slightly higher as the market look for other opportunity when the US Market was closed on Tuesday. Gold currently is running at $1,926.

At the time of writing, the four-hour Stochastic indicator is moving lower in the middle, 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 $1,921.

Resistance: $1,931, $1,937

Support: $1,921, $1,911

GBPUSD

GBPUSD moves flat in low volatility on Tuesday as the US Market holiday. Currently, GBPUSD is trading at 1.2711.

As of this writing, the four-hour Stochastic indicator is moving lower in the middle, 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 flat as the US Market is closed due to Independence Day. SPXUSD currently is running at 4452.

As of this writing, the four-hour Stochastic indicator is moves in the middle, the price is moving above the 20-period moving average. We expect that SPXUSD might moves slightly higher for today and reach above our resistance level at 4456.

Resistance: 4456, 4513

Support: 4415, 4366

USOUSD

USOUSD (WTI) moves higher on Tuesday and able to break our resistance level. Currently USOUSD is running at 71.12.

As of the time of writing, the four-hour Stochastic indicator is moving inside the overbought area, the price is moving above the 20-period moving average. We expect that USOUSD to move lower for today and try to reach our support level at 70.58.

Resistance: 71.85, 72.57

Support: 70.58, 69.96