NEWS: Gold rose on a weaker US dollar ahead of tomorrow’s Inflation data in the U.S.
Possible Scenarios:
If Gold fails to break above Resistance 1 of 1795.27, our Research Department expects Gold to undergo a short-term downward correction.
If Gold manages to break above Resistance 1 of 1795.27, our Research Department expects Gold to extend its gains to its Resistance 2 of 1801.00.
Support and Resistance Levels:
GOLD |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
1768.50 |
1774.23 |
1779.97 |
1787.62 |
1795.27 |
1801.00 |
1806.74 |
Potential Profit or Potential Loss Calculations:
1 dollar per 1 trading lot* |
USD |
EUR** |
GBP*** |
(+/-)100$ |
(+/-)84.74€ |
(+/-)72.33£ |
* 1 trading lot is equivalent of 100 units
** EUR/USD = 1.18000
*** GBP/USD = 1.38247
Calculations for exchange rate used as of 15:25 (GMT+1) 13/09/2021