NEWS: Gold price increased 0.9%. Gold is rallying this afternoon due to the U.S. Dollar falling.
Possible Scenarios:
If Gold fails to breach through R2 of 1817.97, our Research Department expects the Gold to undergo a short- term downward correction.
If Gold manages to break above its R2 of 1817.97, our Research Department expects the Gold to extend its gains to its R3 of 1824.16.
Support and Resistance Levels:
Gold |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
1782.92 |
1789.11 |
1795.29 |
1803.54 |
1811.79 |
1817.97 |
1824.16 |
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 = 1.13176
***GBP/USD = 1.34468
Calculations for exchange rate used as of 15:36 (GMT) 04/01/2022