NEWS: Gold is rising 0.89%, above the mark of $2200, ahead of tomorrow’s Fed Chair Jerome Powell speech.
Possible Scenarios:
If Gold fails to break above Resistance 1 of 2210, our Research Department expects Gold to undergo a short- term downward correction.
If Gold manages to break above Resistance 1 of 2210, our Research Department expects Gold to extend its gains to its Resistance 2 of 2219.
Support and Resistance Levels:
GOLD |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
2168 |
2177 |
2186 |
2198 |
2210 |
2219 |
2228 |
Potential Profit or Potential Loss Calculations:
1 dollar per 1 trading lot* |
USD |
EUR** |
GBP*** |
(+/-)100$ |
(+/-)92.70 € |
(+/-)79.27£ |
* 1 trading lot is equivalent of 100 units
** EUR/USD = 1.07896
***GBP/USD= 1.26148
Calculations for exchange rate used as of 10:50 (GMT) 28/03/2024