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Market Analysis 10th July 2023

EURUSD

EURUSD moves higher on Friday as the market reacted negative with the US jobs report and able to break our resistance level as expected. Currently EURUSD running at 1.0959.

At the time of writing, the four-hour Stochastic indicator is moving strong inside the overbought level, the price is moving above the 20-period moving average. We are expected that EURUSD might slightly lower on Monday, but still between our support and resistance levels.

Resistance: 1.0977, 1.1001

Support: 1.0932, 1.0899

GOLD

Gold moves higher on Friday and able to reach our resistance level as expected. Gold currently is running at $1,923.

At the time of writing, the four-hour Stochastic indicator is slightly lower in the middle, the price is moving above the 20-period moving average. We expect that Gold will moves slightly lower for today and try to reach our support level at 1917.

Resistance: $1,927, $1,933

Support: $1,917, $1,911

GBPUSD

GBPUSD moves higher on Friday and able to break above our resistance levels as expected. Currently, GBPUSD is trading at 1.2822.

As of this writing, the four-hour Stochastic indicator is moving inside the overbought area, the price is moving above the 20-period moving average. We expect GBPUSD to move slightly lower for today and try to reach our support level at 1.2804.

Resistance: 1.2841, 1.2881

Support: 1.2804, 1.2759

SPXUSD

SPXUSD moves lower on Friday as expected. SPXUSD currently is running at 4395 just above our support level.

As of this writing, the four-hour Stochastic indicator moves lower entering the oversold area, the price is moving below the 20-period moving average. We expect that SPXUSD might moves slightly lower for today and reach below our support level at 4389.

Resistance: 4456, 4513

Support: 4415, 4366

USOUSD

USOUSD (WTI) able to moves lower in the early session and reached our support level as expected before goes higher and break our resistance levels in the late session on Friday. Currently USOUSD is running at 73.42.

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 higher for today and reach our resistance level at 74.19.

Resistance: 74.19, 75.12

Support: 72.66, 71.57