Gold - Usd Dollar Analysis

US Session Analysis for CFD Instruments 04/06/2024

Fundamental analysis

04 June, 2024

Gold prices are trading in today’s European session around 2330 levels.

Gold prices declined during Tuesday's European session, partially erasing gains from the previous day's recovery from the $2,315-$2,314 range, a three-week low.

However, expectations of Federal Reserve rate cuts, reinforced by Monday's disappointing US macro data, have cushioned the downside. This has also pushed the US Dollar to a near two-month low, providing some support for gold.

Technical analysis

Time Frame: 1 hour

GOLD Support & Resistance Table - 04/06/2024

Support & Resistance	Level	Explanation
Resistance 2	2355.73	Daily R2
Resistance 1	2346.19	Daily R1
Support 1	2320.75	Daily S1
Support 2	2311.21	Daily S2

GOLD Indicator Table - 04/06/2024

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 - 04/06/2024

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

GOLD 04/06/2024 - Reference Price : 2333.47

Sell

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

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