Gold - Usd Dollar Analysis

EU Session Analysis for CFD Instruments 08/04/2021

Fundamental analysis

08 April, 2021 Research Department

Gold prices slipped on Thursday as investors turned to riskier assets after the U.S. Federal Reserve's latest meeting minutes indicated continued policy support and cemented hopes of a quick economic turnaround. Officials at the Federal Reserve are concerned about the ongoing risks of the COVID-19 pandemic and are committed to supporting the economy until its recovery is more stable, according to minutes of the central bank's most recent policy meeting released on Wednesday. Limiting gold's losses, the U.S. dollar traded near more than two-week troughs versus major peers on Thursday, tracking Treasury yields lower.

Technical analysis

Time Frame: 1 hour

GOLD Support & Resistance Table - 08/04/2021

Support & Resistance	Level	Explanation
Resistance 2	1758.42	Daily R2
Resistance 1	1752.07	Daily R1
Support 1	1735.13	Daily S1
Support 2	1728.78	Daily S2

GOLD Indicator Table - 08/04/2021

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

GOLD Indicator / Period Table - 08/04/2021

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

GOLD 08/04/2021 - Reference Price : 1743.60

Buy

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

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Be Aware: You can lose all, but not more than the balance of your Trading Account. These products may not be suitable for all clients therefore ensure you understand the risks and seek independent advice. You do not own, or have any interest in, the underlying assets. Fortrade Canada Limited is an Order Execution Only broker, and does not provide investment advice or recommendation. Fortrade is a member of the Investment Industry Regulatory Organization of Canada (IIROC) and a member of the Canadian Investor Protection Fund (CIPF). Fortrade Canada Limited is authorised to provide CFD trading services in all provinces in Canada except Quebec. Residents of Alberta province are required to be Accredited Investors to trade CFDs.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. The vast majority of retail client accounts lose money when trading in CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Be Aware: You can lose all, but not more than the balance of your Trading Account. These products may not be suitable for all clients therefore ensure you understand the risks and seek independent advice. This material does not constitute an offer of, or solicitation for, a transaction in any financial instrument. Fortrade accepts no responsibility for any use that may be made of the information and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information, consequently any person acting on it does so entirely at their own risk.

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