NEWS: Gold price decreased 0.8% as US Nonfarm Payrolls came in higher than expected, pushing the USD higher and putting negative pressure on gold.
Possible Scenarios:
If Gold fails to breach through S2 of 1781.85, our Research Department expects the Gold to undergo a short- term upward correction.
If Gold manages to break below its S2 of 1781.85, our Research Department expects the Gold to extend its losses to its S3 of 1774.68
Support and Resistance Levels:
Gold |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
1774.68 |
1781.85 |
1789.01 |
1798.57 |
1808.13 |
1815.29 |
1822.46 |
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 = 1.05376
***GBP/USD = 1.22832
Calculations for exchange rate used as of 13:30 (GMT) 02/12/2022