NEWS: Gold price decreased 0.6% as stronger JOLTs and Q3 GDP data from the US lead to a stronger USD, putting negative pressure on gold.
Possible Scenarios:
If Gold fails to breach through S2 of 1748.75, our Research Department expects the Gold to undergo a short- term upward correction.If Gold manages to break below its S2 of 1748.75, our Research Department expects the Gold to extend its losses to its S3 of 1743.26
Support and Resistance Levels:
Gold |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
1743.26 |
1748.75 |
1754.24 |
1761.56 |
1768.88 |
1774.37 |
1779.86 |
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 = 1.03760
***GBP/USD = 1.19962
Calculations for exchange rate used as of 15:15 (GMT) 30/11/2022