Gold - Usd Dollar Analysis

US Session Analysis for CFD Instruments 05/02/2024

Fundamental analysis

05 February, 2024

Gold prices are trading today at around 2025.

Gold prices fell in European trade on Monday, extending losses from the prior week as a mix of strong labour market data and hawkish Federal Reserve signals saw markets dial back expectations for early interest rate cuts.

The yellow metal fell sharply from highs above $2,050 an ounce, as the prospect of higher-for-longer interest rates heralded more near-term pressure. The dollar shot up to a near two-month high on Monday, while Treasury yields also advanced in European trade.

Technical analysis

Time Frame: 1 hour

GOLD Support & Resistance Table - 05/02/2024

Support & Resistance	Level	Explanation
Resistance 2	2045.76	Daily R2
Resistance 1	2038.06	Daily R1
Support 1	2017.54	Daily S1
Support 2	2009.84	Daily S2

GOLD Indicator Table - 05/02/2024

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 - 05/02/2024

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

GOLD 05/02/2024 - Reference Price : 2027.80

Sell

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

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