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Market Analysis 21st August 2023

EURUSD

EURUSD moved lower on Friday and reach below our support level as expected. Currently EURUSD running at 1.0872.

At the time of writing, the four-hour Stochastic indicator is moving higher after in the middle, the price is still moving below the 20-period moving average. We are expected that EURUSD might move lower for today and try to break our support level at 1.0852.

Resistance: 1.0902, 1.0941

Support: 1.0852, 1.0803

GOLD

Gold moves lower on Friday, and able to break our support level as expected. Gold currently is running at $1,889.

At the time of writing, the four-hour Stochastic indicator is moving lower in the middle, the price is moving below the 20-period moving average. We expect that Gold will moves lower and reach our support level at $1,880.

Resistance: $1,896, $1,912

Support: $1,880, $1,862

GBPUSD

GBPUSD moves higher on Friday and able to break our support level. Currently, GBPUSD is trading at 1.2734.

As of this writing, the four-hour Stochastic indicator is moving higher in the middle, the price is moving above the 20-period moving average. We expect GBPUSD to move higher and break our resistance level at 1.2743.

Resistance: 1.2743, 1.2785

Support: 1.2694, 1.2646

moves lower on Friday and able to break below our support level. SPXUSD currently is running at 4364. SPXUSD

As of this writing, the four-hour Stochastic indicator is moving higher targeting the overbought area, the price is moving below the 20-period moving average. We expect that SPXUSD might moves higher today and reach above our resistance level at 4382.

Resistance: 4382, 4415

Support: 4347, 4326

USOUSD

USOUSD (WTI) moves higher on Friday and able to break above our resistance level. Currently USOUSD is running at 80.66.

As of the time of writing, the four-hour Stochastic indicator is moving higher targeting the overbought area, the price is now moving above the 20-period moving average. We expect that USOUSD to move slightly higher for today and try to reach our resistance level at 81.77.

Resistance: 81.77, 83.24

Support: 79.85, 78.52