Gold - Usd Dollar Analysis

US Session Analysis for CFD Instruments 10/06/2024

Fundamental analysis

10 June, 2024

Gold prices are trading in today’s European session around 2300 levels.

Gold prices stayed stagnant or slightly declined during European trading on Monday, bouncing back from the significant drops experienced last week.

These declines were attributed to concerns over anticipated increases in U.S. interest rates prior to the Federal Reserve meeting and crucial inflation figures.

Following unexpectedly high nonfarm payrolls data on Friday, the metal experienced a sharp decline from its near-record highs, prompting traders to reassess their predictions regarding a rate cut in September.

Investors are now eagerly awaiting the U.S. Consumer Price Index (CPI) data and the Federal Reserve meeting on Wednesday for further guidance.

Technical analysis

Time Frame: 1 hour

GOLD Support & Resistance Table - 10/06/2024

Support & Resistance	Level	Explanation
Resistance 2	2319.85	Daily R2
Resistance 1	2309.48	Daily R1
Support 1	2281.82	Daily S1
Support 2	2271.45	Daily S2

GOLD Indicator Table - 10/06/2024

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 - 10/06/2024

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 10/06/2024 - Reference Price : 2295.65

Sell

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

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