CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70.41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing all your money. Read full risk warning.

Gold - Usd Dollar Analysis

US Session Analysis for CFD Instruments 07/08/2024

Fundamental analysis

07 August, 2024

Gold prices are trading in today’s European session below 2400.00 levels.

Gold prices continued to edge lower on Wednesday as the U.S. dollar and Treasury yields strengthened. Traders awaited further cues to estimate the size of the Federal Reserve's likely September interest rate cut. Markets are also awaiting developments in the Middle East. The US told Iran and Israel yesterday that conflict in the Middle East must not escalate.

Technical analysis

Gold - Usd Dollar Analysis Technical analysis 07/08/2024
Time Frame: 1 hour

GOLD Support & Resistance Table - 07/08/2024

Support & Resistance Level Explanation
Resistance 2 2433.78 Daily R2
Resistance 1 2417.16 Daily R1
Support 1 2372.84 Daily S1
Support 2 2356.22 Daily S2

GOLD Indicator Table - 07/08/2024

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

GOLD Indicator / Period Table - 07/08/2024

Indicator / Period Day - SellWeek - BuyMonth - Buy
MACD( 12;26;9) Sell BuyBuy
RSI (14) Buy BuyBuy
SMA 20 Sell BuyBuy

GOLD 07/08/2024 - Reference Price : 2394.56

Sell
Simple Moving AverageBuy (0)Sell (3)
Technical Indicators - OscillatorsBuy (2)Sell (1)
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