Gold - Usd Dollar Analysis

Morning Analysis for CFD Instruments 09/11/2018

Fundamental analysis

09 November, 2018

Gold prices traded downwards on Friday during the Asian session at 1219.18, with the precious metal’s price being undermined by slightly bearish noises coming out from the Fed. As expected interest rates were unchanged yesterday but the Fed signalled that a December rise is likely and that the current pace of rate rises will likely continue next year. On the other hand, the dollar powered higher yesterday and continued to slightly climb in this morning’s trading which has put Gold under additional pressure. Since Gold is a non yielding asset the prospect of interest rate hikes makes other investments more attractive than the precious metal. At the same time an increase in the value of the Greenback tends to push Gold prices down, as the latter is calculated in dollars.

Technical analysis

Gold - Usd Dollar Analysis Technical analysis 09/11/2018
Time Frame: 1 hour

GOLD Support & Resistance Table - 09/11/2018

Support & Resistance Level Explanation
Resistance 2 1229.22 Daily R2
Resistance 1 1224.00 Daily R1
Support 1 1215.00 Daily S1
Support 2 1210.42 Daily S2

GOLD Indicator Table - 09/11/2018

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

GOLD Indicator / Period Table - 09/11/2018

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

GOLD 09/11/2018 - Reference Price : 1219.42

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