NEWS: Gold price increased 0.6%. Gold prices increased sharply due to volatility ahead of the Federal Reserve meeting tonight.
Possible Scenarios:
If Gold fails to breach through R2 of 2167.89, our Research Department expects the Gold to undergo a short- term downward correction.
If Gold manages to break above its R2 of 2167.89, our Research Department expects Gold to extend its gains to its R3 of 2173.79.
Support and Resistance Levels:
Gold |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
2134.49 |
2140.39 |
2146.28 |
2154.14 |
2162.00 |
2167.89 |
2173.79 |
Potential Profit or Potential Loss Calculations:
1 dollar per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
(+/-) $100 |
(+/-) €92.2 |
(+/-) £78.71 |
*1 trading lot is equivalent of 100 units
**EUR/USD = 1.08457
***GBP/USD = 1.27050
Calculations for exchange rate used as of Wednesday, March 20, 2024, GMT 14:05h