Gold - Usd Dollar Analysis

Morning Analysis for CFD Instruments 08/11/2018

Fundamental analysis

08 November, 2018

Gold traded slightly lower on Thursday during the Asian session at 1225.12 as traders considered the midterm election results and decided for now at least that they should be broadly positive for stocks. Activity in gold was also subdued ahead of the release of the monthly Federal Reserve policy statement, due on Thursday after the central bank's meeting. While the Fed is not expected to raise rates until its December meeting, this month's policy statement will still give markets a read into how the central bank perceives the economy, inflation and labor market, which are key to higher rates. On the other hand, although the Greenback weakened after the election result it grew this morning by 0.18% against a basket of other currencies putting some pressure on the precious metal. Gold is calculated in dollars and when the value of the dollar goes up the precious metal tends to decline in value.

Technical analysis

Gold - Usd Dollar Analysis Technical analysis 08/11/2018
Time Frame: 1 hour

GOLD Support & Resistance Table - 08/11/2018

Support & Resistance Level Explanation
Resistance 2 1232.00 Daily R2
Resistance 1 1228.00 Daily R1
Support 1 1220.28 Daily S1
Support 2 1215.62 Daily S2

GOLD Indicator Table - 08/11/2018

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 - 08/11/2018

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

GOLD 08/11/2018 - Reference Price : 1224.96

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