NEWS: Gold fell on comments for Fed’s James Bullard that interest rates could start going up in late 2022.
Possible Scenarios:
If Gold fails to break below Support 1 of 1776.19, our Research Department expects Gold to undergo a short-term upward correction.
If Gold manages to break below Support 1 of 1776.19, our Research Department expects Gold to extend its losses to its Support 2 of 1764.64.
Support and Resistance Levels:
GOLD |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
1753.10 |
1764.64 |
1776.19 |
1791.58 |
1806.97 |
1818.52 |
1830.07 |
Potential Profit or Potential Loss Calculations:
1 dollar per 1 trading lot* |
USD |
EUR** |
GBP*** |
(+/-)100$ |
(+/-)84.14€ |
(+/-)72.21£ |
* 1 trading lot is equivalent of 100 units
** EUR/USD = 1.18846
*** GBP/USD = 1.38486
Calculations for exchange rate used as of 14:06 (GMT+1) 16/06/2021