NEWS: Gold price is falling -0.8%. Gold is tumbling this afternoon due to a strengthening US Dollar.
Possible Scenarios:
If Gold fails to breach through S1 of 1802.88, our Research Department expects the Gold to undergo a short- term upward correction.
If Gold manages to break below its S1 of 1802.88, our Research Department expects the Gold to extend its losses to its S2 of 1797.39
Support and Resistance Levels:
Gold |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
1791.89 |
1797.39 |
1802.88 |
1810.21 |
1817.54 |
1823.03 |
1828.53 |
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 = 1.03916
***GBP/USD = 1.20999
Calculations for exchange rate used as of 12:52(GMT+1) 30/6/2022