NEWS: Gold price increased 0.8% after falling in yesterday's session.
Possible Scenarios:
if Gold fails to breach through R1 of 2194.87, our Research Department expects the Gold to undergo a short- term downward correction.
If Gold manages to break above its R1 of 2194.87, our Research Department expects Gold to extend its gains to its R2 of 2206.77.
Support and Resistance Levels:
Gold |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
2139.32 |
2151.23 |
2163.13 |
2179.00 |
2194.87 |
2206.77 |
2218.68 |
Potential Profit or Potential Loss Calculations:
1 dollar per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
(+/-) $100 |
(+/-) €92.35 |
(+/-) £79.2 |
*1 trading lot is equivalent of 100 units
**EUR/USD= 1.08279
***GBP/USD= 1.26260
Calculations for exchange rate used as of Wednesday, March 27, 2024, 10:20 GMT