Gold - Usd Dollar Analysis

EU Session Analysis for CFD Instruments 10/07/2024

Fundamental analysis

10 July, 2024

Gold prices are trading in today’s Asian session above 2360 levels.

Gold prices experienced a slight increase in Asian trading on Wednesday, following remarks from Federal Reserve Chair Jerome Powell that heightened speculation about the timing of future interest rate cuts by the central bank.

The precious metal had shown some strength in recent sessions due to the dollar weakening amid growing anticipation of a rate cut in September. However, gold's momentum stalled as the Fed provided no clear indications regarding the direction of interest rates.

Technical analysis

Time Frame: 1 hour

GOLD Support & Resistance Table - 10/07/2024

Support & Resistance	Level	Explanation
Resistance 2	2388.41	Daily R2
Resistance 1	2379.23	Daily R1
Support 1	2354.77	Daily S1
Support 2	2345.59	Daily S2

GOLD Indicator Table - 10/07/2024

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

GOLD Indicator / Period Table - 10/07/2024

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

GOLD 10/07/2024 - Reference Price : 2368.51

Buy

Simple Moving Average	Buy (2)	Sell (1)
Technical Indicators - Oscillators	Buy (3)	Sell (0)

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