{x} | Trading.live

Market Analysis 26th May 2023

EURUSD

EURUSD able to moves flat but continue lower on Thursday, able to break slightly below our support level. EURUSD currently running at 1.0726.

At the time of writing, the four-hour Stochastic indicator is moving back higher in the middle, the price is still moving below the 20-period moving average. We are expected that EURUSD will move slightly higher to reach our new resistance level at 1.0766.

Resistance: 1.0766, 1.0801

Support: 1.0702, 1.0671

GOLD

Gold moves lower and able to break our support level at $1,952 as expected. Gold currently is running at $1,941.

At the time of writing, the four-hour Stochastic indicator is moving inside the oversold area. The price is moving BELOW the 20-period moving average. We expect that Gold will move slightly higher for today as the last day of the week and reach our new resistance level at $1,954.

Resistance: $1,954, $1,975

Support: $1,934, $1,913

GBPUSD

GBPUSD able to moves lower and break our support level at 1.2344 as expected. Currently, GBPUSD is trading at 1.2323.

As of this writing, the four-hour Stochastic indicator is moving inside the oversold area. The price is moving BELOW the 20-period moving average. We expect GBPUSD to move slightly higher and try to reach back our resistance level at 1.2356.

Resistance: 1.2356, 1.2443

Support: 1.2273, 1.2187

SPXUSD

SPXUSD moves higher on Thursday and able to reach our resistance level as expected. SPXUSD currently is running at 4143 just below our resistance level.

As of this writing, the four-hour Stochastic indicator is moving lower in the middle, the price is moving just below the 20-period moving average. We expect that SPXUSD might move slightly higher and try to break above our resistance level at 4152.

Resistance: 4152, 4175

Support: 4109, 4089

USOUSD

USOUSD (WTI) moves flat lower on Thursday and break our support level at 73.03. Currently USOUSD is trading at 71.75 just around our support level.

As of the time of writing, the four-hour Stochastic indicator is crossing back higher just above the oversold area, the price is moving BELOW the 20-period moving average. We expect that USOUSD to move back higher and reach the middle of our support and resistance level around 73.00.

Resistance: 73.51, 75.11

Support: 73.03, 71.73, 70.40

Key events for the day:

USD    Core PCE Price Index