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Market Analysis 11th April 2023

EURUSD

EURUSD moves lower and able to break below our support level at 1.0884 on Monday as the US market still got affected by the strong US Jobs report on Friday. EURUSD currently running at 1.0871.

At the time of writing, the four-hour Stochastic indicator is moving higher just above the oversold level, and the price is moving BELOW the 20-period moving average. We are expected a stronger EURUSD for today and reach our resistance level at 1.0890.

Resistance: 1.0890, 1.0928

Support: 1.0854, 1.0820

GOLD

Gold was moving lower on Monday after moving higher on early session.Gold is currently being traded at $1,989.

At the time of writing, the four-hour Stochastic indicator is moving flat in the middle. The price is moving BELOW the 20-period moving average. We expect that Gold might move higher today and try to reach our resistance level at $2,005.

Resistance: $2,005, $2,026

Support: $1,984, $1,964

GBPUSD

GBPUSD able to moves lower on Monday and reach our support level at 1.2350. Currently, GBPUSD is trading at 1.2390.

    

As of this writing, the four-hour Stochastic indicator is moving back higher in the middle. The price is now moving BELOW the 20-period moving average. We expect GBPUSD to try to move higher for today and try to reach the resistance level at 1.2425.

Resistance: 1.2425, 1.2479

Support: 1.2350, 1.2294

SPXUSD

SPXUSD moves slightly higher as expected and able to reach just below our resistance level at 4119. Currently, SPXUSD is trading at 4111.

As of this writing, the four-hour Stochastic indicator is moving strongly higher targeting the overbought level, and the price is now moving ABOVE the 20-period moving average. We expect that SPXUSD will move higher for today and try to breach our nearest resistance level at 4119.

Resistance: 4119, 4157

Support: 4080, 4040

USOUSD

USOUSD (WTI) is still consolidating in a tight range on Monday. USOUSD is trading at 79.90.

As of the time of writing, the four-hour Stochastic indicator is moving lower entering the oversold level. The price is now moving just below 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