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.

Gold - Usd Dollar Analysis

EU Session Analysis for CFD Instruments 03/01/2024

Fundamental analysis

03 January, 2024

Gold prices rose and are trading at around 2,064.

Gold entered 2024 under pressure from a jump in the U.S. dollar, but held its ground on expectations the Federal Reserve will cut interest rates this year and rising concerns over attacks on shipping in the Red Sea.

Gold prices surged 13% in 2023 in their first annual rise since 2020 and are forecast to reach record highs in 2024, as lower interest rates reduce the opportunity cost of holding non-yielding bullion.

Technical analysis

Gold - Usd Dollar Analysis Technical analysis 03/01/2024
Time Frame: 1 hour

GOLD Support & Resistance Table - 03/01/2024

Support & Resistance Level Explanation
Resistance 2 2079.32 Daily R2
Resistance 1 2072.76 Daily R1
Support 1 2055.24 Daily S1
Support 2 2048.68 Daily S2

GOLD Indicator Table - 03/01/2024

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

GOLD Indicator / Period Table - 03/01/2024

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

GOLD 03/01/2024 - Reference Price : 2064.28

Sell
Simple Moving AverageBuy (2)Sell (1)
Technical Indicators - OscillatorsBuy (1)Sell (2)
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