NEWS: Gold price is falling -0.6%. Gold drops for the fifth consecutive day amid fears of escalating inflation and economic slowdown.
Possible Scenarios:
If Gold fails to breach through S1 of 1789.79, our Research Department expects the Gold to undergo a short- term upward correction.
If Gold manages to break below its S1 of 1789.79, our Research Department expects the Gold to extend its losses to its S2 of 1784.37
Support and Resistance Levels:
Gold |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
1778.95 |
1784.37 |
1789.79 |
1797.01 |
1804.23 |
1809.65 |
1815.07 |
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 = 1.04460
***GBP/USD = 1.21095
Calculations for exchange rate used as of 9:10(GMT+1) 01/7/2022