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Gold - Usd Dollar Analysis

US Session Analysis for CFD Instruments 16/09/2020

Fundamental analysis

16 September, 2020

Gold prices inched up on Wednesday on a weaker dollar, with investors awaiting the outcome of the Federal Reserve’s policy meeting for details of the U.S. central bank’s plans to balance interest rates against its inflation target. The Fed decision is due at 1800 GMT, followed by a news conference by Chairman Jerome Powell half an hour later. The U.S. central bank last month adopted a more accommodative approach to inflation and pledged to keep interest rates low for longer. Lower U.S. interest rates put pressure on the dollar and bond yields, increasing the appeal of non-yielding bullion. Gold also is used as a hedge against inflation and currency debasement.

Technical analysis

Gold - Usd Dollar Analysis Technical analysis 16/09/2020
Time Frame: 1 hour

GOLD Support & Resistance Table - 16/09/2020

Support & Resistance Level Explanation
Resistance 2 1982.36 Daily R2
Resistance 1 1975.13 Daily R1
Support 1 1955.85 Daily S1
Support 2 1948.62 Daily S2

GOLD Indicator Table - 16/09/2020

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 - 16/09/2020

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

GOLD 16/09/2020 - Reference Price : 1965.49

Buy
Simple Moving AverageBuy (3)Sell (0)
Technical Indicators - OscillatorsBuy (3)Sell (0)
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