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Market Analysis 18th August 2023

EURUSD

EURUSD moved lower on Thursday and reach below our support level as expected. Currently EURUSD running at 1.0886.

At the time of writing, the four-hour Stochastic indicator is moving higher after exited the oversold area, the price is now moving below the 20-period moving average. We are expected that EURUSD might move lower for today and try to break our support level at 1.0874.

Resistance: 1.0941, 1.1046

Support: 1.0874, 1.0813

GOLD

Gold moves lower on Thursday, but able to reach our resistance level before goes back lower. Gold currently is running at $1,894.

At the time of writing, the four-hour Stochastic indicator is moving higher just above the oversold area, the price is moving below the 20-period moving average. We expect that Gold will moves lower and reach our support level at $1,880.

Resistance: $1,901, $1,912

Support: $1,892, $1,880

GBPUSD

GBPUSD moves higher on Thursday and able to break our resistance level as expected. Currently, GBPUSD is trading at 1.2757.

As of this writing, the four-hour Stochastic indicator is moving in the middle, the price is moving above the 20-period moving average. We expect GBPUSD to move higher and break our resistance level at 1.2785.

Resistance: 1.2785, 1.2817

Support: 1.2744, 1.2694

moves lower on Thursday and able to break below our support level. SPXUSD currently is running at 4371. SPXUSD

As of this writing, the four-hour Stochastic indicator is moving lower entering the oversold area, the price is moving below the 20-period moving average. We expect that SPXUSD might moves higher today and reach above our resistance level at 4385.

Resistance: 4385, 4416

Support: 4358, 4328

USOUSD

USOUSD (WTI) moves higher on Thursday and able to break our resistance level as expected. Currently USOUSD is running at 80.01.

As of the time of writing, the four-hour Stochastic indicator is moving in the middle, the price is still moving below the 20-period moving average. We expect that USOUSD to move slightly higher for today and try to reach our resistance level at 80.40.

Resistance: 80.40, 81.77

Support: 78.52, 77.12