Gold - Usd Dollar Analysis

US Session Analysis for CFD Instruments 22/04/2024

Fundamental analysis

22 April, 2024

Gold prices are trading in today’s European session below 2370 levels.

Gold prices declined slightly during Monday's European trading session due to reduced concerns about a potential escalation of conflict in the Middle East, which lessened the demand for safe-haven assets.

Additionally, the anticipation of an increase in U.S. interest rates exerted downward pressure on prices. Although tensions between Iran and Israel have been evident recently, Iran's restrained reaction to a Friday strike and the absence of immediate retaliation plans alleviated fears of further escalation, thereby dampening the demand for gold.

However, reports of Iraqi strikes on a U.S. base in Syria, coupled with the ongoing Israeli offensive in Gaza, contributed to geopolitical uncertainties.

Technical analysis

Time Frame: 1 hour

GOLD Support & Resistance Table - 22/04/2024

Support & Resistance	Level	Explanation
Resistance 2	2392.33	Daily R2
Resistance 1	2377.55	Daily R1
Support 1	2338.13	Daily S1
Support 2	2323.35	Daily S2

GOLD Indicator Table - 22/04/2024

Indicator	Signal
SMA 20	Sell
SMA 50	Sell
SMA 100	Buy
MACD( 12;26;9)	Buy
RSI (14)	Sell
Stochastic ( 9;6;3)	Sell

GOLD Indicator / Period Table - 22/04/2024

Indicator / Period	Day - Sell	Week - Buy	Month - Buy
MACD( 12;26;9)	Buy	Buy	Buy
RSI (14)	Sell	Buy	Buy
SMA 20	Sell	Buy	Buy

GOLD 22/04/2024 - Reference Price : 2357.84

Sell

Simple Moving Average	Buy (1)	Sell (2)
Technical Indicators - Oscillators	Buy (1)	Sell (2)

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