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Market Analysis 24th April 2023

EURUSD

EURUSD moves higher on Friday and able to break our resistance level at 1.0975. EURUSD currently running at 1.0992.

At the time of writing, the four-hour Stochastic indicator is still moving inside the overbought level, and the price is now moving ABOVE the 20-period moving average. We are expected a slightly higher EURUSD for today to try reaching our next resistance level at 1.0999.

Resistance: 1.0999, 1.1026

Support: 1.0970, 1.0942

GOLD

Gold fell on Friday and able to break our support level at $1,990. Gold currently is running at $1,983.

At the time of writing, the four-hour Stochastic indicator is moving higher in the middle. The price is moving BELOW the 20-period moving average. We expect that Gold might try to move higher to reach our resistance level at $1,990.

Resistance: $1,990, $2,005

Support: $1,974, $1,966

GBPUSD

GBPUSD were moving lower on Friday but able to moves back higher between our support and resistance levels. Currently, GBPUSD is trading at 1.2444.

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. 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 between our support and resistance levels. SPXUSD currently is running at 4124.

As of this writing, the four-hour Stochastic indicator is moving but with no clear direction near the overbought level, and the price is moving below the 20-period moving average. We expect that SPXUSD will still moving in consolidation but slightly lower and reach below our support level at 4119.

Resistance: 4140, 4157

Support: 4119, 4107

USOUSD

USOUSD (WTI) moves flat on Friday and keep between our support and resistance levels. Currently USOUSD is trading at 77.44.

As of the time of writing, the four-hour Stochastic indicator is moving in the middle with no clear direction. 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