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Market Analysis 21st April 2023

EURUSD

EURUSD moves flat in a range between our support and resistance on Thursday. EURUSD currently running at 1.0970, slightly below our resistance level.

At the time of writing, the four-hour Stochastic indicator is still moving flat in the middle, and the price is now moving just above the 20-period moving average. We are expected a slightly lower EURUSD for today to try reaching our support level at 1.0923.

Resistance: 1.0975, 1.1026

Support: 1.0923, 1.0877

GOLD

Gold able to rise back above the $2,000 on Thursday as expected. Gold currently is running at $2,003.

At the time of writing, the four-hour Stochastic indicator is moving lower from the overbought level. The price is moving above the 20-period moving average. We expect that Gold might try to move back higher to reach above our resistance level at $2,010.

Resistance: $2,010, $2,020

Support: $1,997, $1,990

GBPUSD

GBPUSD moves in consolidation on Thursday but able to reach our resistance level at 1.2467 as expected. Currently, GBPUSD is trading at 1.2443.

As of this writing, the four-hour Stochastic indicator is moving in the middle. The price is now moving above the 20-period moving average. We expect GBPUSD to move higher for today and try to reach above our resistance level at 1.2467.

Resistance: 1.2467, 1.2502

Support: 1.2401, 1.2355

SPXUSD

SPXUSD still move in consolidation, but able to move lower and slightly break our support level at 4136. SPXUSD currently is running at 4133.

As of this writing, the four-hour Stochastic indicator is moving higher from the oversold level, and the price is moving below the 20-period moving average. We expect that SPXUSD will still moving in consolidation and move between our tighter support and resistance level.

Resistance: 4140, 4157

Support: 4119, 4107

USOUSD

USOUSD (WTI) moves lower on Thursday and able to break our support level at 78.18 as expected. Currently USOUSD is trading at 77.08.

As of the time of writing, the four-hour Stochastic indicator is moving inside the oversold level. We expect that USOUSD to continue to move slightly lower and reach our support level at 76.08.

Resistance: 79.41, 81.19

Support: 76.08, 74.06

Key events for today:

EUR    French Flash Manufacturing PMI

EUR    French Flash Services PMI

EUR    German Flash Manufacturing PMI

EUR    German Flash Services PMI

GBP    Flash Manufacturing PMI

GBP    Flash Services PMI

USD    Flash Manufacturing PMI

USD    Flash Services PMI