NEWS: Gold price decreased 0.4% pairing some gains of yesterday. The US dollar is trying to consolidate after the data from the US showed yesterday that the annual CPI inflation climbed to 7%, as expected.
Possible Scenarios:
If Gold fails to breach through S1 of 1817.74, our Research Department expects the Gold to undergo a short-term upward correction.
If Gold manages to break below its S1 of 1817.74, our Research Department expects the Gold to extend its losses to its S2 of 1812.40.
Support and Resistance Levels:
Gold |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
1807.06 |
1812.40 |
1817.74 |
1824.86 |
1831.98 |
1837.32 |
1842.66 |
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 = 1.14632
***GBP/USD = 1.37320
Calculations for exchange rate used as of 08:15 (GMT) 13/1/2022