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Gold - Usd Dollar Analysis

US Session Analysis for CFD Instruments 18/09/2020

Fundamental analysis

18 September, 2020

Gold prices gained on Friday buoyed by a weaker dollar and lingering concerns over an economic recovery from the damage inflicted by the coronavirus pandemic that were underscored by elevated weekly U.S. jobless claims data. U.S. weekly jobless claims report on Thursday showed a smaller-then expected decline in new claims, weighing on the dollar and bolstering the appeal of gold as an investment alternative. Low interest rates globally and widespread stimulus measures have helped gold gain over 28% so far this year, as they lower the opportunity cost of holding non-yielding bullion and bolster its appeal as a hedge against inflation risk. Continuing the trend, the U.S. Federal Reserve on Wednesday vowed to keep interest rates near zero for a long time.

Technical analysis

Gold - Usd Dollar Analysis Technical analysis 18/09/2020
Time Frame: 1 hour

GOLD Support & Resistance Table - 18/09/2020

Support & Resistance Level Explanation
Resistance 2 1970.68 Daily R2
Resistance 1 1963.74 Daily R1
Support 1 1945.22 Daily S1
Support 2 1938.28 Daily S2

GOLD Indicator Table - 18/09/2020

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

GOLD Indicator / Period Table - 18/09/2020

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

GOLD 18/09/2020 - Reference Price : 1954.48

Buy
Simple Moving AverageBuy (2)Sell (1)
Technical Indicators - OscillatorsBuy (3)Sell (0)
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