NEWS: Gold price is falling -0.8% after stronger than expected CPI data from the US.
Possible Scenarios:
If Gold fails to breach through S1 of 2329.59, our Research Department expects the Gold to undergo a short- term upward correction.
If Gold manages to break below its S1 of 2329.59, our Research Department expects the Gold to extend its losses to its S2 of 2315.77.
Support and Resistance Levels:
Gold |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
2301.96 |
2315.77 |
2329.59 |
2348.00 |
2366.41 |
2380.23 |
2394.04 |
Potential Profit or Potential Loss Calculations:
1 dollar per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
(+/-) $100 |
(+/-) €92.03 |
(+/-) £78.72 |
*1 trading lot is equivalent of 100 units
**EUR/USD = 1.08657
***GBP/USD = 1.27036
Calculations for exchange rate used as of Wednesday, April 10, 2024, 14:50: AM