CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% 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. 75% 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 02/01/2025

Fundamental analysis

02 January, 2025

Gold prices are trading in today’s European session above 2645 levels.

Gold prices edged higher, building on their strong performance in 2024, as a weaker U.S. dollar provided support. However, traders remained cautious amid the U.S. Federal Reserve's projection of fewer interest rate cuts this year. In the United States, initial jobless claims are scheduled for release at 13:30 GMT, followed by the December Manufacturing PMI at 14:45 GMT.

Technical analysis

Gold - Usd Dollar Analysis Technical analysis 02/01/2025
Time Frame: 1 hour

GOLD Support & Resistance Table - 02/01/2025

Support & Resistance Level Explanation
Resistance 2 2674.59 Daily R2
Resistance 1 2660.62 Daily R1
Support 1 2623.38 Daily S1
Support 2 2609.42 Daily S2

GOLD Indicator Table - 02/01/2025

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

GOLD Indicator / Period Table - 02/01/2025

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

GOLD 02/01/2025 - Reference Price : 2643.74

Buy
Simple Moving AverageBuy (3)Sell (0)
Technical Indicators - OscillatorsBuy (2)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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