NEWS: Gold price increased 1.3%. Gold is rising as investors dump equities and seek safe haven assets.
Possible Scenarios:
If Gold fails to breach through R1 of 1769.59, our Research Department expects the Gold to undergo a short-term downward correction.
If Gold manages to break above its R1 of 1769.59, our Research Department expects the Gold to extend its gains to its R2 of 1777.42.
Support and Resistance Levels:
Gold |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
1733.02 |
1740.86 |
1748.69 |
1759.14 |
1769.59 |
1777.42 |
1785.26 |
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 = 1.17290
***GBP/USD = 1.36700
Calculations for exchange rate used as of 15:53 (GMT+1) 20/09/2021