CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70.91% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing all your money. Read full risk warning.

Gold - Usd Dollar Analysis

US Session Analysis for CFD Instruments 07/02/2024

Fundamental analysis

07 February, 2024

Gold prices are trading today at around 2032.

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

Gold traders are also watching developments in the Middle East with a reported potential Israel / Hamas ceasefire plan on the table which is currently being considered by Israel.

Technical analysis

Gold - Usd Dollar Analysis Technical analysis 07/02/2024
Time Frame: 1 hour

GOLD Support & Resistance Table - 07/02/2024

Support & Resistance Level Explanation
Resistance 2 2051.35 Daily R2
Resistance 1 2043.48 Daily R1
Support 1 2022.52 Daily S1
Support 2 2014.65 Daily S2

GOLD Indicator Table - 07/02/2024

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

GOLD Indicator / Period Table - 07/02/2024

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

GOLD 07/02/2024 - Reference Price : 2032.85

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