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Market Analysis 11th July 2023

EURUSD

EURUSD moves higher on Monday as the market still affected by the weak US jobs report and able to break our resistance level. Currently EURUSD running at 1.1005.

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 higher for today and try to reach our next resistance level at 1.1033.

Resistance: 1.1033, 1.1057

Support: 1.1002, 1.0965

GOLD

Gold moves able to moves lower in early session on Monday as expected, but then able to moves back higher. Gold currently is running at $1,926 just below our resistance level.

At the time of writing, the four-hour Stochastic indicator is strongly higher entering the overbought level, the price is moving above the 20-period moving average. We expect that Gold will moves higher and able to reach above our resistance level at $1,927.

Resistance: $1,927, $1,933

Support: $1,917, $1,911

GBPUSD

GBPUSD moves higher on Monday and able to break above our resistance level. Currently, GBPUSD is trading at 1.2869.

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 higher for today and reach our resistance level at 1.2919.

Resistance: 1.2919, 1.2998

Support: 1.2852, 1.2773

SPXUSD

SPXUSD moves lower in the early session on Monday as expected, but the moves back higher. SPXUSD currently is running at 4412 just below our resistance level.

As of this writing, the four-hour Stochastic indicator moves strongly higher entering the overbought area, the price is moving just above the 20-period moving average. We expect that SPXUSD might moves higher for today and reach above our resistance level at 4417.

Resistance: 4417, 4439

Support: 4389, 4366

USOUSD

USOUSD (WTI) able to moves near our support and resistance levels on Monday. Currently USOUSD is running at 73.34.

As of the time of writing, the four-hour Stochastic indicator is moving lower in the middle, the price is moving above the 20-period moving average. We expect that USOUSD to move slightly lower for today and try to reach our support level at 72.66.

Resistance: 74.19, 75.12

Support: 72.66, 71.57

Key events for today:

GBP    Claimant Count Change