CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Gold - Usd Dollar Analysis

US Session Analysis for CFD Instruments 31/07/2020

Fundamental analysis

31 July, 2020

Gold rose on Friday and headed for its biggest monthly gain in 8-1/2 years as the impact of the worsening coronavirus pandemic on the U.S. economy hammered the dollar, prompting investors to seek refuge in bullion. Prices hit a record $1,980.57 on Tuesday and are up nearly 11% so far this month, their biggest monthly percentage gain since Jan. 2012. The dollar, often seen by investors as a rival safe-haven, was on track for its biggest monthly drop in almost a decade. Its decline makes dollar-priced gold cheaper for holders of other currencies. Along with U.S. data showing the deepest economic contraction in at least 73 years in the second quarter and a rise in unemployment, the dollar was also hurt by President Donald Trump raising the possibility of delaying the November presidential election.

Technical analysis

Gold - Usd Dollar Analysis Technical analysis 31/07/2020
Time Frame: 1 hour

GOLD Support & Resistance Table - 31/07/2020

Support & Resistance Level Explanation
Resistance 2 2004.92 Daily R2
Resistance 1 1991.41 Daily R1
Support 1 1955.37 Daily S1
Support 2 1941.86 Daily S2

GOLD Indicator Table - 31/07/2020

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

GOLD Indicator / Period Table - 31/07/2020

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

GOLD 31/07/2020 - Reference Price : 1973.39

Buy
Simple Moving AverageBuy (3)Sell (0)
Technical Indicators - OscillatorsBuy (3)Sell (0)
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  • CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
  • CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. The vast majority of retail client accounts lose money when trading in CFDs. You should consider whether you understand how leveraged contracts work and whether you can afford to take the high risk of losing your money.