NEWS: Gold price decreased 0.7% as the US Federal Reserve surprised markets by signaling two rate hikes in 2023.
Possible Scenarios:
If Gold fails to breach through S1 of 1804.63, our Research Department expects the Gold to undergo a short-term upward correction.
If Gold manages to break below its S1 of 1804.63, our Research Department expects the Gold to extend its losses to its S2 of 1794.75.
Support and Resistance Levels:
Gold |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
1784.86 |
1794.75 |
1804.63 |
1817.81 |
1830.99 |
1840.87 |
1850.76 |
Potential Profit or Potential Loss Calculations:
10 cents per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
(+/-) $100 |
(+/-) €82.53 |
(+/-) £70.9 |
*1 trading lot is equivalent of 100 units
**EUR/USD = 1.19938
***GBP/USD = 1.39971
Calculations for exchange rate used as of 08:15 (GMT+1) 17/06/2021