{x} | Trading.live

Market Analysis 15th May 2023

EURUSD

EURUSD move lower and able to break our support level on Friday. EURUSD currently running at 1.0850.

At the time of writing, the four-hour Stochastic indicator is moving inside the oversold area, the price is moving BELOW the 20-period moving average. We are expected that EURUSD will move slightly higher and reach our new resistance level at 1.0884.

Resistance: 1.0884, 1.0930

Support: 1.0822, 1.0787

GOLD

Gold moves lower in high volatility on Friday, able to move higher and back lower. Gold currently is running at $2,010 at our previous support level.

At the time of writing, the four-hour Stochastic indicator is moving in the middle. The price is now moving BELOW the 20-period moving average. We expect that Gold will move slightly lower for today to try reach our new support level at $2,000.

Resistance: $2,023, $2,036

Support: $2,000, $1,989

GBPUSD

GBPUSD moves lower on Friday and able to break our support levels. Currently, GBPUSD is trading at 1.2448.

As of this writing, the four-hour Stochastic indicator is moving inside the oversold area. The price is moving BELOW the 20-period moving average. We expect GBPUSD to move slightly lower and reach our new support level at 1.2435 before going back higher.

Resistance: 1.2500, 1.2552

Support: 1.2435, 1.2395

SPXUSD

SPXUSD moved lower and able to reach our support level at 4115. SPXUSD currently is running around our support level at 4115.

As of this writing, the four-hour Stochastic indicator is moving lower in the middle, and the price is now moving BELOW the 20-period moving average. We expect that SPXUSD might move slightly lower and reach below our current support level at 4115.

Resistance: 4141, 4171

Support: 4115, 4094

USOUSD

USOUSD (WTI) moves flatly lower on Friday but able to break our support level at 70.91. Currently USOUSD is trading at 70.11.

As of the time of writing, the four-hour Stochastic indicator is moving inside the oversold area, the price is now moving BELOW the 20-period moving average. We expect that USOUSD to move lower and try to reach our next support level at 69.19.

Resistance: 71.41, 73.78

Support: 69.19, 67.24

Key events for Today 15th May 2023:

USD    Empire State Manufacturing Index