Gold - Usd Dollar Analysis

US Session Analysis for CFD Instruments 11/07/2019

Fundamental analysis

11 July, 2019

Gold prices pushed higher on Thursday as the dollar slipped after dovish remarks from the U.S. Federal Reserve Chairman Jerome Powell yesterday boosted the case for an interest rate cut later this month. In his testimony to Congress, Powell pointed to “broad” global weakness that was clouding the U.S. economic outlook amid uncertainty about the fallout from the Trump administration’s trade conflict with China. The minutes from the Fed’s previous policy meeting showed many policymakers thought more stimulus would be needed soon, reviving speculation of an aggressive rate cut. Lower interest rates decrease the opportunity cost of holding non-yielding bullion and weigh on the dollar, making gold cheaper for investors holding other currencies.

Technical analysis

Gold - Usd Dollar Analysis Technical analysis 11/07/2019
Time Frame: 1 hour

GOLD Support & Resistance Table - 11/07/2019

Support & Resistance Level Explanation
Resistance 2 1433.50 Daily R2
Resistance 1 1427.00 Daily R1
Support 1 1415.00 Daily S1
Support 2 1410.00 Daily S2

GOLD Indicator Table - 11/07/2019

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

GOLD Indicator / Period Table - 11/07/2019

Indicator / Period Day - BuyWeek - BuyMonth - Buy
MACD( 12;26;9) Buy BuyBuy
RSI (14) Buy BuyBuy
SMA 20 Buy BuyBuy

GOLD 11/07/2019 - Reference Price : 1421.20

Buy
Simple Moving AverageBuy (3)Sell (0)
Technical Indicators - OscillatorsBuy (3)Sell (1)
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11/07/19 - Thursday / Analysis
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