Gold - Usd Dollar Analysis

US Session Analysis for CFD Instruments 10/06/2021

Fundamental analysis

10 June, 2021 Research Department

Gold prices retreated on Thursday as the dollar ticked higher, with investors staying on the sidelines ahead of the European Central Bank meeting and U.S. inflation data later in the day. The dollar index edged up slightly to trade near 90.195 against its rivals, making gold more expensive for other currency holders. All eyes are on U.S. consumer price index data after last month’s report showed consumer prices increased by the most in nearly 12 years in April. Economists polled by Reuters have estimated the CPI advanced 0.4% in May.

Technical analysis

Time Frame: 1 hour

GOLD Support & Resistance Table - 10/06/2021

Support & Resistance	Level	Explanation
Resistance 2	1898.56	Daily R2
Resistance 1	1890.47	Daily R1
Support 1	1868.89	Daily S1
Support 2	1860.80	Daily S2

GOLD Indicator Table - 10/06/2021

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

GOLD Indicator / Period Table - 10/06/2021

Indicator / Period	Day - Sell	Week - Buy	Month - Buy
MACD( 12;26;9)	Sell	Buy	Neutral
RSI (14)	Sell	Buy	Buy
SMA 20	Sell	Sell	Buy

GOLD 10/06/2021 - Reference Price : 1879.68

Sell

Simple Moving Average	Buy (0)	Sell (3)
Technical Indicators - Oscillators	Buy (0)	Sell (3)

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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 CFDs work and whether you can afford to take the high risk of losing your money. Be Aware: You can lose all, but not more than the balance of your Trading Account. These products may not be suitable for all clients therefore ensure you understand the risks and seek independent advice. This material does not constitute an offer of, or solicitation for, a transaction in any financial instrument. Fortrade accepts no responsibility for any use that may be made of the information and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information, consequently any person acting on it does so entirely at their own risk.

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