NEWS: Gold price increased 1.4%. Gold is moving higher after the CPI for August in the United States came in lower than forecast.
Possible Scenarios:
If Gold fails to breach through R1 of 1808.29, our Research Department expects the Gold to undergo a short-term downward correction.
If Gold manages to break above its R1 of 1808.29, our Research Department expects the Gold to extend its gains to its R2 of 1814.5.
Support and Resistance Levels:
Gold |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
1779.28 |
1785.50 |
1791.71 |
1800.00 |
1808.29 |
1814.50 |
1820.72 |
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 = 1.18181
***GBP/USD = 1.38542
Calculations for exchange rate used as of 15:49 (GMT+1) 14/09/2021