Gold - Usd Dollar Analysis

EU Session Analysis for CFD Instruments 24/04/2024

Fundamental analysis

24 April, 2024

Gold prices are trading in today’s Asian session above 2320 levels.

Reduced concerns regarding the intensified conflict in the Middle East emerge as a significant factor in diminishing the appeal of safe-haven precious metals.

Additionally, the increasing acknowledgment that the Federal Reserve (Fed) intends to maintain elevated interest rates in the face of persistent inflation adds to the constraints on the potential gains of the non-yielding gold.

Technical analysis

Time Frame: 1 hour

GOLD Support & Resistance Table - 24/04/2024

Support & Resistance	Level	Explanation
Resistance 2	2358.63	Daily R2
Resistance 1	2345.50	Daily R1
Support 1	2310.50	Daily S1
Support 2	2297.37	Daily S2

GOLD Indicator Table - 24/04/2024

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 - 24/04/2024

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

GOLD 24/04/2024 - Reference Price : 2329.54

Sell

Simple Moving Average	Buy (0)	Sell (3)
Technical Indicators - Oscillators	Buy (2)	Sell (1)

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