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Market Analysis 31st July 2023

EURUSD

EURUSD moves higher, but able to reach our support level as expected before moves higher on the day and reached our resistance level. Currently EURUSD running at 1.1019.

At the time of writing, the four-hour Stochastic indicator is moving slightly lower just below the overbought area, the price is moving below the 20-period moving average. We are expected that EURUSD might move lower for today and try to reach our support level at 1.0942.

Resistance: 1.1037, 1.1108

Support: 1.0942, 1.0873

GOLD

Gold moved slightly higher on Friday and able to break our resistance level. Gold currently is running at $1,957.

At the time of writing, the four-hour Stochastic indicator is moving lower just below the overbought area, the price is now moving below the 20-period moving average. We expect that Gold will moves lower and reach back our support level at $1,954.

Resistance: $1,963, $1,972

Support: $1,954, $1,945

GBPUSD

GBPUSD moves higher on Friday, but able to reach our support and resistance levels on the day. Currently, GBPUSD is trading at 1.2855.

As of this writing, the four-hour Stochastic indicator is moving lower just below the overbought area, the price is moving below the 20-period moving average. We expect GBPUSD to move slightly lower for today and reach our support level at 1.2773.

Resistance: 1.2873, 1.2960

Support: 1.2773, 1.2687

SPXUSD

SPXUSD moved higher on Friday and able to break our resistance level. SPXUSD currently is running at 4582.

As of this writing, the four-hour Stochastic indicator is moving inside the overbought area and trying to move lower, the price is now moving above the 20-period moving average. We expect that SPXUSD might moves slightly lower today and reach our support level at 4567.

Resistance: 4589, 4607

Support: 4567, 4553

USOUSD

USOUSD (WTI) moves higher on Friday and able to break our resistance level as expected. Currently USOUSD is running at 80.31.

As of the time of writing, the four-hour Stochastic indicator is moving inside the overbought area, the price is still moving above the 20-period moving average. We expect that USOUSD to move slightly higher for today and try to reach above our resistance level at 81.32.

Resistance: 81.32, 82.89

Support: 79.72, 77.86