NEWS: Gold rose on worse than expected Weekly Initial Jobless Claims in the US (719 vs. 680 exp.).
Possible Scenarios:
If Gold fails to break above Resistance 1 of 1722.40, our Research Department expects Gold to undergo a short- term downward correction.
If Gold manages to break above Resistance 1 of 1722.40, our Research Department expects Gold to extend its gains to its Resistance 2 of 1730.77.
Support and Resistance Levels:
GOLD |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
1683.34 |
1691.71 |
1700.08 |
1711.24 |
1722.40 |
1730.77 |
1739.14 |
Potential Profit or Potential Loss Calculations:
1 dollar per 1 trading lot* |
USD |
EUR** |
GBP*** |
(+/-)90.70$ |
(+/-)85.2€ |
(+/-)72.47£ |
* 1 trading lot is equivalent of 100 units
** EUR/USD = 1.17560
*** GBP/USD = 1.37977
Calculations for exchange rate used as of 14:14 (GMT) 01/04/2021