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

EU Session Analysis for CFD Instruments 23/01/2024

Fundamental analysis

23 January, 2024

Gold prices are trading today at around 2030.

Gold prices advanced on Tuesday, tracking mild weakness in the dollar as traders hunkered down before a slew of key U.S. economic readings this week, although the prospect of higher-for-longer U.S. interest rates still kept gains subdued.

Gold continues to hold steady above the $2000 threshold, supported by the demand for its safe-haven characteristics amid escalating global tensions. Increased conflicts in the Middle East, the Red Sea, Taiwan-China, and Russia-Ukraine are all playing a role in the sustained support for gold.

Technical analysis

Gold - Usd Dollar Analysis Technical analysis 23/01/2024
Time Frame: 1 hour

GOLD Support & Resistance Table - 23/01/2024

Support & Resistance Level Explanation
Resistance 2 2046.92 Daily R2
Resistance 1 2040.10 Daily R1
Support 1 2021.90 Daily S1
Support 2 2015.08 Daily S2

GOLD Indicator Table - 23/01/2024

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

GOLD Indicator / Period Table - 23/01/2024

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

GOLD 23/01/2024 - Reference Price : 2034.24

Buy
Simple Moving AverageBuy (2)Sell (1)
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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