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Gold - Usd Dollar Analysis

EU Session Analysis for CFD Instruments 23/02/2021

Fundamental analysis

23 February, 2021

Gold climbed a one-week peak on Tuesday, bolstered by a weaker dollar and a retreat in U.S. Treasury yields, while concerns of rising inflation further boosted bullion's appeal as a hedge against inflation. The dollar hit an over one-month low, making gold affordable for other currency holders, as investors await U.S. Federal Reserve Chairman Jerome Powell's testimony to Congress later in the day. Benchmark U.S. Treasury yields eased from a near one-year peak on Monday, reducing the opportunity cost of holding non-yielding bullion.

Technical analysis

Gold - Usd Dollar Analysis Technical analysis 23/02/2021
Time Frame: 1 hour

GOLD Support & Resistance Table - 23/02/2021

Support & Resistance Level Explanation
Resistance 2 1833.00 Daily R2
Resistance 1 1824.03 Daily R1
Support 1 1800.09 Daily S1
Support 2 1791.12 Daily S2

GOLD Indicator Table - 23/02/2021

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

GOLD Indicator / Period Table - 23/02/2021

Indicator / Period Day - BuyWeek - SellMonth - Buy
MACD( 12;26;9) Neutral SellBuy
RSI (14) Buy NeutralBuy
SMA 20 Buy SellBuy

GOLD 23/02/2021 - Reference Price : 1812.57

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