{x} | Trading.live

Market Analysis 10th April 2023

EURUSD

EURUSD moves flat but able to reach our support level at 1.0884 as expected on Friday. EURUSD currently running at 1.0908.

At the time of writing, the four-hour Stochastic indicator is moving higher just above the middle level, and the price is moving just below the 20-period moving average. We are not expecting much movement for today as we have some bank holidays in the EU.

Resistance: 1.0928, 1.0960

Support: 1.0884, 1.0854

GOLD

Gold was not moving on Friday as the market is closed. However, today, the price of Gold opened with a decline below $2,000 and is currently being traded at $2,004.

At the time of writing, the four-hour Stochastic indicator is moving lower in the middle near the oversold level. The price is moving just BELOW the 20-period moving average. We expect that Gold might move higher today and try to reach our 20-period moving average at $2,010.

Resistance: $2,019, $2,031

Support: $2,000, $1,984

GBPUSD

GBPUSD able to moves lower on Friday and reach our support level at 1.2404 as expected. Currently, GBPUSD is trading at 1.2424.

    

As of this writing, the four-hour Stochastic indicator is moving slightly higher in the middle. The price is now moving BELOW the 20-period moving average. We expect GBPUSD to remain stable as the UK Bank is on holiday. However, we also anticipate a slight upward movement, which could result in the currency pair reaching just below our closely-set resistance level of 1.2455.

Resistance: 1.2455, 1.2508

Support: 1.2404, 1.2350

SPXUSD

SPXUSD moves flat around our 20-period moving average on Friday. Currently, SPXUSD is trading at 4104.

As of this writing, the four-hour Stochastic indicator is moving lower after exited the overbought level, and the price is now moving just above the 20-period moving average. We expect that SPXUSD will move higher for today and try to reach our nearest resistance level at 4120.

Resistance: 4120, 4157

Support: 4080, 4040

USOUSD

USOUSD (WTI) is still consolidating in a tight range on Friday, affected by the jump which happen early last week. USOUSD is trading at 80.78.

As of the time of writing, the four-hour Stochastic indicator is moving with no clear direction just below the overbought level. The price is now moving just around the 20-period moving average. We expect that USOUSD will moves slightly higher to break our resistance level at 80.96.

Resistance: 80.96, 82.40

Support: 79.58, 77.45

Key Events for Today:

NZD    Bank Holiday

AUD    Bank Holiday

CHF    Bank Holiday

GBP    Bank Holiday

EUR    French Bank Holiday

EUR    German Bank Holiday

EUR    Italian Bank Holiday