NEWS: Gold price fell 0.4% to reach the lowest rate in four weeks due to the speculations regarding this week's Federal Reserve meeting outcome.
Possible Scenarios:
If Gold fails to breach through S1 of 1856.06, our Research Department expects the Gold to undergo a short-term upward correction.
If Gold manages to break below its S1 of 1856.06, our Research Department expects the Gold to extend its losses to its S2 of 1849.53.
Support and Resistance Levels:
Gold |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
1843.00 |
1849.53 |
1856.06 |
1864.77 |
1873.48 |
1880.01 |
1886.54 |
Potential Profit or Potential Loss Calculations:
10 cents per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
(+/-) $100 |
(+/-) €82.52 |
(+/-) £70.94 |
*1 trading lot is equivalent of 100 units
**EUR/USD = 1.21186
***GBP/USD = 1.40974
Calculations for exchange rate used as of 8:40 (GMT+1) 14/06/2021