CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70.91% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing all your money. Read full risk warning.

Gold - Usd Dollar Analysis

EU Session Analysis for CFD Instruments 17/01/2024

Fundamental analysis

17 January, 2024

Gold prices are trading today at around 2,018.

Gold prices fell early Wednesday as Fed member Christopher Wallace struck a more cautious tone with regards to rate cuts, stating that recent resilient economic data might potentially delay interest rate cuts.

However, as tensions in the Middle East and Red Sea continue to escalate, safe-haven demand for Gold is still lending great support for Gold prices especially as global uncertainty increases with around 70 countries set to vote this year.

Technical analysis

Gold - Usd Dollar Analysis Technical analysis 17/01/2024
Time Frame: 1 hour

GOLD Support & Resistance Table - 17/01/2024

Support & Resistance Level Explanation
Resistance 2 2035.02 Daily R2
Resistance 1 2027.73 Daily R1
Support 1 2008.28 Daily S1
Support 2 2000.98 Daily S2

GOLD Indicator Table - 17/01/2024

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

GOLD Indicator / Period Table - 17/01/2024

Indicator / Period Day - SellWeek - BuyMonth - Buy
MACD( 12;26;9) Buy BuyBuy
RSI (14) Sell NeutralBuy
SMA 20 Sell BuyBuy

GOLD 17/01/2024 - Reference Price : 2018.96

Sell
Simple Moving AverageBuy (0)Sell (3)
Technical Indicators - OscillatorsBuy (1)Sell (2)
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