NEWS: Gold price is falling 0.6%. Gold prices are falling as stronger than expected US economic data causes a spike in the US dollar.
Possible Scenarios:
If Gold fails to breach through S2 of 2185.97, our Research Department expects the Gold to undergo a short- term upward correction.
If Gold manages to break below its S2 of 2185.97, our Research Department expects the Gold to extend its losses to its S3 of 2177.09
Support and Resistance Levels:
Gold |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
2177.09 |
2185.97 |
2194.84 |
2206.68 |
2218.52 |
2227.39 |
2236.27 |
Potential Profit or Potential Loss Calculations:
1 dollar per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
(+/-) $100 |
(+/-) €91.91 |
(+/-) £78.69 |
*1 trading lot is equivalent of 100 units
**EUR/USD= 1.08806
***GBP/USD= 1.27078
Calculations for exchange rate used as of Thursday, March 21, 2024, GMT 14:05h