Gold - Usd Dollar Analysis

Evening Analysis for CFD Instruments 07/02/2019

Fundamental analysis

07 February, 2019

Gold prices edged slightly lower as the precious metal found safe haven support after renewed fears of an economic slowdown infected the markets. Earlier today The European Commission lowered its growth for all of the three biggest economies in the euro zone this year, highlighting a slowdown in China and spillovers from that country's trade conflict with the U.S. Investors are worried that if trade talks between the US and China are not successful the US economy will be negatively impacted. In the meantime, the dollar continues to move higher against a basket of other currencies, providing additional support for Gold. The Greenback and the precious metal tend to have an inverse relationship, as Gold is calculated in dollars.

Technical analysis

Gold - Usd Dollar Analysis Technical analysis 07/02/2019
Time Frame: 1 hour

GOLD Support & Resistance Table - 07/02/2019

Support & Resistance Level Explanation
Resistance 2 1314.93 Daily R2
Resistance 1 1310.58 Daily R1
Support 1 1302.07 Daily S1
Support 2 1298.10 Daily S2

GOLD Indicator Table - 07/02/2019

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

GOLD Indicator / Period Table - 07/02/2019

Indicator / Period Day - SellWeek - BuyMonth - Buy
MACD( 12;26;9) Sell BuyNeutral
RSI (14) Sell BuyBuy
SMA 20 Neutral BuyBuy

GOLD 07/02/2019 - Reference Price : 1305.88

Sell
Simple Moving AverageBuy (0)Sell (2)
Technical Indicators - OscillatorsBuy (1)Sell (2)
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