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Market Analysis 27th March 2023

EURUSD

EURUSD able to move lower on Friday and break our support level at 1.0798 as expected. Currently, EURUSD is trading at 1.0768.

At the time of writing, the four-hour Stochastic indicator is moving higher in the middle after reaching the oversold level. The price is now moving BELOW the 20-period moving average. For today, we expect EURUSD to move slightly higher to reach our 20-period moving average and resistance level at 1.0829.

Resistance: 1.0829, 1.0903

Support: 1.0735, 1.0689

GOLD

Gold moves lower on Friday and reach our support level at $1,972. Currently, gold is trading at $1,973.

At the time of writing, the four-hour Stochastic indicator is moving just inside the oversold level. The price is moving at the 20-period moving average. For today, we expect that gold might move back higher and try to reach our resistance level at $1,986.

Resistance: $1,986, $2,009

Support: $1,972, $1,947

GBPUSD

GBPUSD moves lower on Friday higher and break our support level at 1.2259. Currently, GBPUSD is running at 1.2238.

As of this writing, the four-hour Stochastic indicator is moving higher in the middle. The price is moving just BELOW the 20-period moving average. For today, we expect GBPUSD to move higher and reach our next resistance level at 1.2258.

Resistance: 1.2258, 1.2305

Support: 1.2202, 1.2169

SPXUSD

SPXUSD able to move lower in the early session on Friday and reach below our support level at 3928 as expected but then goes back higher. Currently, SPXUSD running at 3986.

As of this writing, the four-hour Stochastic indicator is moving inside the overbought level. The price is now moving ABOVE the 20-period moving average. For today, we expect that SPXUSD will move higher and try to reach our resistance level at 4016.

Resistance: 4016, 4077

Support: 3928, 3885

USOUSD

USOUSD (WTI) able to moves lower on Friday as expected and reach our support level at 67.28 before goes back higher. Currently, USOUSD is trading at 69.70.

As of the time of writing, the four-hour Stochastic indicator is moving higher targeting the overbought level. The price is still moving at the 20-period moving average. We expect that USOUSD to move higher and reach our resistance level at 70.68.

Resistance: 70.68, 72.66

Support: 68.94, 67.28