Gold - Usd Dollar Analysis

EU Session Analysis for CFD Instruments 26/01/2024

Fundamental analysis

26 January, 2024

Gold prices are trading today at around 2022.

Gold prices kept to a tight range on Friday and were headed for a second straight week in red as anticipation of more cues on U.S. interest rates kept traders skittish, with key inflation data and a Federal Reserve meeting now in focus.

However, Gold continues to hold steady above the $2000 threshold, supported by the demand for its safe-haven characteristics amid escalating global tensions. Increased conflicts in the Middle East, the Red Sea, Taiwan-China, and Russia-Ukraine are all playing a role in the sustained support for gold.

Technical analysis

Time Frame: 1 hour

GOLD Support & Resistance Table - 26/01/2024

Support & Resistance	Level	Explanation
Resistance 2	2035.15	Daily R2
Resistance 1	2029.52	Daily R1
Support 1	2014.48	Daily S1
Support 2	2008.85	Daily S2

GOLD Indicator Table - 26/01/2024

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

GOLD Indicator / Period Table - 26/01/2024

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

GOLD 26/01/2024 - Reference Price : 2021.92

Sell

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

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