Gold - Usd Dollar Analysis

US Session Analysis for CFD Instruments 11/07/2024

Fundamental analysis

11 July, 2024

Gold prices are trading in today’s European session above 2380 levels.

Gold prices rose during European trading on Thursday, driven by a weaker dollar and declining Treasury yields amid growing expectations of U.S. interest rate cuts ahead of crucial inflation data.

Throughout the week, gold maintained its gains, bolstered by reports that several central banks in emerging markets were expanding their gold reserves.

Furthermore, dovish remarks from Federal Reserve Chair Jerome Powell added to the positive momentum for gold.

Technical analysis

Time Frame: 1 hour

GOLD Support & Resistance Table - 11/07/2024

Support & Resistance	Level	Explanation
Resistance 2	2400.21	Daily R2
Resistance 1	2391.92	Daily R1
Support 1	2369.80	Daily S1
Support 2	2361.51	Daily S2

GOLD Indicator Table - 11/07/2024

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 - 11/07/2024

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

GOLD 11/07/2024 - Reference Price : 2380.86

Buy

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

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