NEWS: The gold price is falling 0.4% due to the rise of USD in front of the US inflation data.
Possible Scenarios:
If Gold fails to breach through S1 of 1777.89, our Research Department expects the Gold to undergo a short-term upward correction.
If Gold manages to break below its S1 of 1777.89, our Research Department expects the Gold to extend its losses to its S2 of 1771.68.
Support and Resistance Levels:
Gold |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
1765.46 |
1771.68 |
1777.89 |
1786.18 |
1794.47 |
1800.68 |
1806.90 |
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 = 1.18102
***GBP/USD = 1.38516
Calculations for exchange rate used as of 13:12 (GMT+1) 14/09/2021