NEWS: Gold is falling 1.75% on speculation of possible stimulus tapering ahead of the Fed meeting (Wednesday, June 16).
Possible Scenarios:
If Gold fails to break below Support 2 of 1839.54, our Research Department expects Gold to undergo a short-term upward correction.
If Gold manages to break below Support 2 of 1839.54, our Research Department expects Gold to extend its losses to its Support 3 of 1833.01.
Support and Resistance Levels:
GOLD |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
1833.01 |
1839.54 |
1846.07 |
1854.78 |
1863.49 |
1870.02 |
1876.55 |
Potential Profit or Potential Loss Calculations:
1 dollar per 1 trading lot* |
USD |
EUR** |
GBP*** |
(+/-)100$ |
(+/-)82.46€ |
(+/-)70.70£ |
* 1 trading lot is equivalent of 100 units
** EUR/USD = 1.21175
*** GBP/USD = 1.41080
Calculations for exchange rate used as of 14:15 (GMT+1) 14/06/2021