Gold - Usd Dollar Analysis

EU Session Analysis for CFD Instruments 11/07/2024

Fundamental analysis

11 July, 2024

Gold prices are trading in today’s Asian session above 2380 levels.

Gold prices climbed in Asian trading on Thursday, boosted by a weaker dollar and lower Treasury yields as anticipation of U.S. interest rate cuts intensified ahead of key inflation data.

The precious metal held onto gains this week, supported by reports that several central banks in emerging markets were increasing their gold reserves. Additionally, dovish comments from Federal Reserve Chair Jerome Powell contributed to gold's upward momentum.

Technical analysis

Time Frame: 1 hour

GOLD Support & Resistance Table - 11/07/2024

Support & Resistance	Level	Explanation
Resistance 2	2401.35	Daily R2
Resistance 1	2393.06	Daily R1
Support 1	2370.94	Daily S1
Support 2	2362.65	Daily S2

GOLD Indicator Table - 11/07/2024

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 - 11/07/2024

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

GOLD 11/07/2024 - Reference Price : 2382.75

Buy

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

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