Gold - Usd Dollar Analysis

US Session Analysis for CFD Instruments 20/06/2024

Fundamental analysis

20 June, 2024

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

On Thursday, gold prices awakened from their slumber, rising a lively half a percent to trade in the $2,340s before falling just below this level. The precious metal is at a critical technical juncture that could shape its trend for the rest of the summer.

Safe-haven demand for gold increases as investors worry about escalating geopolitical tensions.

In the Middle East, tensions between Israel and Lebanon peaked on Wednesday after Israeli officials announced plans for the Northern Command to launch an "all-out war" with Hezbollah in Lebanon.

Technical analysis

Time Frame: 1 hour

GOLD Support & Resistance Table - 20/06/2024

Support & Resistance	Level	Explanation
Resistance 2	2355.38	Daily R2
Resistance 1	2348.01	Daily R1
Support 1	2328.35	Daily S1
Support 2	2320.98	Daily S2

GOLD Indicator Table - 20/06/2024

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

GOLD Indicator / Period Table - 20/06/2024

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

GOLD 20/06/2024 - Reference Price : 2338.18

Buy

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

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