NEWS: Gold price increased 0.4%. Gold prices increased as investors seek a safe haven commodity with concerns of a recession rising.
Possible Scenarios:
if Gold fails to breach through R1 of 1829.78, our Research Department expects the Gold to undergo a short- term downward correction.
If Gold manages to break above its R1 of 1829.78, our Research Department expects Gold to extend its gains to its R2 of 1835.51.
Support and Resistance Levels:
Gold |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
1803.04 |
1808.77 |
1814.50 |
1822.14 |
1829.78 |
1835.51 |
1841.24 |
Potential Profit or Potential Loss Calculations:
10 cents per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
(+/-) $100 |
(+/-) €85.1 |
(+/-) £73.01 |
*1 trading lot is equivalent of 100 units
**EUR/USD = 1.05310
***GBP/USD = 1.22198
Calculations for exchange rate used as of 11:50 (GMT+1) 29/6/2022