Gold - Usd Dollar Analysis

EU Session Analysis for CFD Instruments 16/04/2024

Fundamental analysis

16 April, 2024

Gold prices are trading in today’s Asian session above 2380 levels.

In Asian trading, gold prices increased, staying near historic highs due to sustained safe-haven demand amid escalating geopolitical tensions between Iran and Israel.

However, a surge in the dollar restrained larger advancements in gold, as rising expectations of prolonged higher U.S. interest rates led to increased Treasury yields. Nonetheless, gold experienced significant gains over the preceding fortnight, primarily driven by heightened safe-haven demand.

Technical analysis

Time Frame: 1 hour

GOLD Support & Resistance Table - 16/04/2024

Support & Resistance	Level	Explanation
Resistance 2	2430.22	Daily R2
Resistance 1	2411.27	Daily R1
Support 1	2360.73	Daily S1
Support 2	2341.78	Daily S2

GOLD Indicator Table - 16/04/2024

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

GOLD Indicator / Period Table - 16/04/2024

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

GOLD 16/04/2024 - Reference Price : 2386.04

Buy

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

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