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Gold - Usd Dollar Analysis

EU Session Analysis for CFD Instruments 12/06/2019

Fundamental analysis

12 June, 2019

Gold prices traded higher on Wednesday at 1332.45 during the Asian session after hitting a one-week low in the previous session, as worries over U.S.-China trade war flared up, curbing risk appetite and increasing the appeal of safe-haven bullion. Risk sentiment turned cautious as both sides in the Sino-U.S. trade tussle engaged in another round of heated exchanges. U.S. President Trump defended the use of tariffs, while China vowed a tough response if Washington insists on escalating trade tensions amid ongoing negotiations. Trump also emphasized that he was holding up a trade deal with China and had no interest in moving ahead unless Beijing agrees again to four or five “major points,” which he did not specify. Gold bulls are also optimistic of an interest rate cut by the U.S. Federal Reserve. Trump, a long-term advocator of rate cuts, said on Tuesday interest rates were “way too high”. Fed policymakers will meet on June 18-19 against the backdrop of rising trade tensions, slowing U.S. growth and a sharp step-down in hiring last month that have led markets to price in at least two rate cuts by the end of 2019.

Technical analysis

Gold - Usd Dollar Analysis Technical analysis 12/06/2019
Time Frame: 1 hour

GOLD Support & Resistance Table - 12/06/2019

Support & Resistance Level Explanation
Resistance 2 1343.04 Daily R2
Resistance 1 1337.50 Daily R1
Support 1 1326.50 Daily S1
Support 2 1321.13 Daily S2

GOLD Indicator Table - 12/06/2019

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

GOLD Indicator / Period Table - 12/06/2019

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

GOLD 12/06/2019 - Reference Price : 1333.16

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