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Market Analysis 15th August 2023

EURUSD

EURUSD moves slightly lower on Monday and able to break our support level as expected. Currently EURUSD running at 1.0907.

At the time of writing, the four-hour Stochastic indicator is moving in the middle, the price is now 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 1.0874.

Resistance: 1.0941, 1.1046

Support: 1.0874, 1.0813

GOLD

Gold moves lower on Monday and able to move below our support level. Gold currently is running at $1,907.

At the time of writing, the four-hour Stochastic indicator is moving in the middle with no clear direction, the price is moving below the 20-period moving average. We expect that Gold will moves higher and reach our 20-period moving average at $1,913.

Resistance: $1,912, $1,923

Support: $1,902, $1,892

GBPUSD

GBPUSD moves flat but still between our support and resistance levels. Currently, GBPUSD is trading at 1.2685.

As of this writing, the four-hour Stochastic indicator is moving higher targeting the overbought area, the price is moving below the 20-period moving average. We expect GBPUSD to move lower and reach our support level at 1.2646.

Resistance: 1.2706, 1.2785

Support: 1.2646, 1.2593

moves higher on Monday as expected and able to reach above our resistance level. SPXUSD currently is running at 4494. SPXUSD

As of this writing, the four-hour Stochastic indicator is moving higher entering the overbought area, the price is moving above the 20-period moving average. We expect that SPXUSD might moves higher today and reach above our resistance level at 4497.

Resistance: 4497, 4531

Support: 4456, 4428

USOUSD

USOUSD (WTI) moves slightly higher on Monday but still between our support and resistance levels. Currently USOUSD is running at 81.85.

As of the time of writing, the four-hour Stochastic indicator is moving in the middle with no clear direction, the price is now moving below the 20-period moving average. We expect that USOUSD to move slightly lower for today and try to reach our support level at 80.73.

Resistance: 84.03, 85.82

Support: 80.73, 78.52

Key events for today:

AUD    Monetary Policy Meeting Minutes

AUD    Wage Price Index q/q

GBP    Claimant Count Change

CAD    CPI m/m

USD    Empire State Manufacturing Index

USD    Retail Sales m/m