NEWS: Gold price increased 0.6%. Gold prices increased as the US dollar continued to fall after hitting its highest levels since early January.
Possible Scenarios:
if Gold fails to breach through R1 of 2186.49, our Research Department expects the Gold to undergo a short- term downward correction.
If Gold manages to break above its R1 of 2186.49, our Research Department expects Gold to extend its gains to its R2 of 2197.36.
Support and Resistance Levels:
Gold |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
2135.77 |
2146.64 |
2157.51 |
2172.00 |
2186.49 |
2197.36 |
2208.23 |
Potential Profit or Potential Loss Calculations:
1 dollar per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
(+/-) $100 |
(+/-) €92.14 |
(+/-) £78.99 |
*1 trading lot is equivalent of 100 units
**EUR/USD= 1.08529
***GBP/USD= 1.26604
Calculations for exchange rate used as of Tuesday, March 26, 2024, GMT 09:30h