NEWS: Gold price increased 0.8%. Gold price increased sharply as risk of wider escalation in the Middle East continues to remain high ahead of the expected Iranian strike on Israel.
Possible Scenarios:
if Gold fails to breach through R1 of 2419.63, our Research Department expects the Gold to undergo a short- term downward correction.
If Gold manages to break above its R1 of 2419.63, our Research Department expects Gold to extend its gains to its R2 of 2435.32.
Support and Resistance Levels:
Gold |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
2346.44 |
2362.12 |
2377.81 |
2398.72 |
2419.63 |
2435.32 |
2451.00 |
Potential Profit or Potential Loss Calculations:
1 dollar per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
(+/-) $100 |
(+/-) €94.08 |
(+/-) £80.41 |
*1 trading lot is equivalent of 100 units
**EUR/USD= 1.06298
***GBP/USD= 1.24368
Calculations for exchange rate used as of Friday, April 12, 2024, GMT+1 15:20h