NEWS: Gold fell back below 1800 as investors continued to expect three interest rate hikes in the US in 2022.
Possible Scenarios:
If Gold fails to break below Support 1 of 1791.42, our Research Department expects Gold to undergo a short-term upward correction.
If Gold manages to break below Support 1 of 1791.42, our Research Department expects Gold to extend its losses to its Support 2 of 1784.60.
Support and Resistance Levels:
Gold |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
1777.79 |
1784.60 |
1791.42 |
1800.50 |
1809.58 |
1816.40 |
1823.21 |
Potential Profit or Potential Loss Calculations:
1 dollar per 1 trading lot* |
USD |
EUR** |
GBP*** |
(+/-)100$ |
(+/-)88.40€ |
(+/-)73.73£ |
* 1 trading lot is equivalent of 100 units
** EUR/USD = 1.13123
*** GBP/USD = 1.35626
Calculations for exchange rate used as of 12:58 (GMT) 10/01/2022