CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% 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. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
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Gold - Usd Dollar Analysis

US Session Analysis for CFD Instruments 15/05/2024

Fundamental analysis

15 May, 2024

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

Gold prices increased during Wednesday's European trading session, gaining support from a softened dollar as investors anticipated pivotal U.S. consumer inflation figures, which could impact interest rate projections.

The previous night saw gold making gains following comments from Federal Reserve Chair Jerome Powell suggesting that there's little likelihood of further U.S. interest rate hikes, a sentiment that contributed to the dollar's downtrend. All eyes are now on the forthcoming release of U.S. CPI data later today.

Technical analysis

Gold - Usd Dollar Analysis Technical analysis 15/05/2024
Time Frame: 1 hour

GOLD Support & Resistance Table - 15/05/2024

Support & Resistance Level Explanation
Resistance 2 2385.75 Daily R2
Resistance 1 2377.12 Daily R1
Support 1 2354.12 Daily S1
Support 2 2345.49 Daily S2

GOLD Indicator Table - 15/05/2024

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 - 15/05/2024

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

GOLD 15/05/2024 - Reference Price : 2365.62

Buy
Simple Moving AverageBuy (3)Sell (0)
Technical Indicators - OscillatorsBuy (3)Sell (0)
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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Be Aware: You can lose all, but not more than the balance of your Trading Account. These products may not be suitable for all clients therefore ensure you understand the risks and seek independent advice. You do not own, or have any interest in, the underlying assets. Fortrade Canada Limited is an Order Execution Only broker, and does not provide investment advice or recommendation. Fortrade is a member of the Canadian Investment Regulatory Organization (CIRO) and a member of the Canadian Investor Protection Fund (CIPF). Fortrade Canada Limited is authorised to provide CFD trading services in all provinces in Canada except Quebec. Residents of Alberta province are required to be Accredited Investors to trade CFDs.

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