Gold - Usd Dollar Analysis

US Session Analysis for CFD Instruments 06/02/2024

Fundamental analysis

06 February, 2024

Gold prices are trading today at around 2023.

The gold price dropped as the US dollar and Treasury yields continued to rise due to solid macroeconomic reports and hawkish comments from Federal Reserve officials.

Gold attempted to recover during the early European session. Today, the macroeconomic calendar has no major data releases, so volatility may decline and established short-term trends may continue.

Technical analysis

Time Frame: 1 hour

GOLD Support & Resistance Table - 06/02/2024

Support & Resistance	Level	Explanation
Resistance 2	2045.00	Daily R2
Resistance 1	2036.92	Daily R1
Support 1	2015.38	Daily S1
Support 2	2007.30	Daily S2

GOLD Indicator Table - 06/02/2024

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 - 06/02/2024

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

GOLD 06/02/2024 - Reference Price : 2026.15

Sell

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

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