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Market Analysis 30th May 2023

EURUSD

EURUSD moving flat on Monday and keep between our support and resistance level after reaching our support level. EURUSD currently running at 1.0718.

At the time of writing, the four-hour Stochastic indicator is moves inside the oversold area, the price is still moving below the 20-period moving average. We are expected that EURUSD will move slightly higher to try to break our 20-period moving average at 1.0730 and reach our resistance level at 1.0766.

Resistance: 1.0766, 1.0801

Support: 1.0702, 1.0671

GOLD

Gold moves flat on Monday and keep between our support and resistance levels. Gold currently is running at $1,943.

At the time of writing, the four-hour Stochastic indicator is moving lower in the middle, the price is still moving BELOW the 20-period moving average. We expect that Gold will move slightly back higher for today and reach our 20-period moving average at $1,948.

Resistance: $1,954, $1,975

Support: $1,934, $1,913

GBPUSD

GBPUSD able to moves higher on Monday and break above our resistance level as expected. Currently, GBPUSD is trading at 1.2364.

As of this writing, the four-hour Stochastic indicator is moving slowly higher in the middle, the price is moving ABOVE the 20-period moving average. We expect GBPUSD to move slightly higher and try to reach our resistance level at 1.2393.

Resistance: 1.2393, 1.2443

Support: 1.2331, 1.2273

SPXUSD

SPXUSD moves flat on Monday after opens jump above the 4200 level. SPXUSD currently is running at 4214 just above our support level at 4206.

As of this writing, the four-hour Stochastic indicator is moving lower near the oversold area and the price now moving above the 20-period moving average. We expect that SPXUSD might continue moving higher for today and try to reach our new resistance level at 4264.

Resistance: 4264, 4304

Support: 4206, 4153

USOUSD

USOUSD (WTI) moves lower on Monday but try to move back higher at the end of the US session. Currently USOUSD is trading at 73.19 just below our resistance level.

As of the time of writing, the four-hour Stochastic indicator is crossing back higher in the middle, the price is moving just above the 20-period moving average. We expect that USOUSD to move higher and break above our resistance level at 73.51.

Resistance: 73.51, 75.11

Support: 71.73, 70.40

Key Events for Today,

USD     CB Consumer Confidence