NEWS: Gold price increased 0.9% to a new all-time high ahead of US CPI data tomorrow and a weakening US Dollar.
Possible Scenarios:
If Gold fails to breach through R1 of 2366.53, our Research Department expects the Gold to undergo a short- term downward correction.
If Gold manages to break above its R1 of 2366.53, our Research Department expects Gold to extend its gains to its R2 of 2381.18.
Support and Resistance Levels:
Gold |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
2298.18 |
2312.82 |
2327.47 |
2347.00 |
2366.53 |
2381.18 |
2395.82 |
Potential Profit or Potential Loss Calculations:
1 dollar per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
(+/-) $100 |
(+/-) €92.05 |
(+/-) £78.87 |
*1 trading lot is equivalent of 100 units
**EUR/USD = 1.08632
***GBP/USD = 1.26790
Calculations for exchange rate used as of Tuesday, April 9, 2024, 10:55 GMT+1