Gold - Usd Dollar Analysis

US Session Analysis for CFD Instruments 16/07/2024

Fundamental analysis

16 July, 2024

Gold prices are trading in today’s European session above 2430 levels.

Gold prices climbed in European trading on Tuesday, approaching new highs driven by heightened expectations of Federal Reserve rate cuts starting in September.

However, the dollar's strength, fueled by increasing speculation that Donald Trump will win a second term as president, tempered the gains.

Technical analysis

Time Frame: 1 hour

GOLD Support & Resistance Table - 16/07/2024

Support & Resistance	Level	Explanation
Resistance 2	2464.01	Daily R2
Resistance 1	2454.15	Daily R1
Support 1	2427.85	Daily S1
Support 2	2417.99	Daily S2

GOLD Indicator Table - 16/07/2024

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 - 16/07/2024

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 16/07/2024 - Reference Price : 2439.54

Buy

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

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