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Gold - Usd Dollar Analysis

US Session Analysis for CFD Instruments 20/11/2020

Fundamental analysis

20 November, 2020

Gold was headed for a second weekly decline on Friday on growing optimism about COVID-19 vaccines, with the U.S. Treasury's call to end emergency loan programmes also limiting bullion's safe-haven appeal. U.S. Treasury Secretary Steven Mnuchin said key lending programs at the Federal Reserve would expire on Dec. 31, casting doubts over the future of fiscal support. While the news did weigh on risk sentiment, it did not stop world stocks from gaining on the back of brightening prospects for a faster economic recovery thanks to positive developments on the vaccine front. Amid positive vaccine news Investors pulled $4 billion from gold, the biggest outflows ever, amid a rush for riskier assets last week, BofA said on Friday. Lower interest rates make gold an attractive bet by reducing the opportunity cost of holding the non-yielding metal, with near-zero interest rates globally contributing to its about 23% gain for the year.

Technical analysis

Gold - Usd Dollar Analysis Technical analysis 20/11/2020
Time Frame: 1 hour

GOLD Support & Resistance Table - 20/11/2020

Support & Resistance Level Explanation
Resistance 2 1883.38 Daily R2
Resistance 1 1876.48 Daily R1
Support 1 1858.06 Daily S1
Support 2 1851.16 Daily S2

GOLD Indicator Table - 20/11/2020

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

GOLD Indicator / Period Table - 20/11/2020

Indicator / Period Day - SellWeek - SellMonth - Buy
MACD( 12;26;9) Sell SellBuy
RSI (14) Sell SellBuy
SMA 20 Sell SellSell

GOLD 20/11/2020 - Reference Price : 1867.27

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