NEWS: Gold price is falling -0.9%. Rising long term U.S. Treasury yields is putting downward pressure on the price of Gold.
Possible Scenarios:
If Gold fails to breach through S1 of 1737.88, our Research Department expects the Gold to undergo a short-term upward correction.
If Gold manages to break below its S1 of 1737.88, our Research Department expects the Gold to extend its losses to its S2 of 1732.24.
Support and Resistance Levels:
Gold |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
1726.59 |
1732.24 |
1737.88 |
1745.40 |
1752.92 |
1758.56 |
1764.21 |
Potential Profit or Potential Loss Calculations:
1 dollar per 1 trading lot* |
USD |
EUR** |
GBP*** |
(+/-) $100 |
(+/-) €84.21 |
(+/-) £72.96 |
*1 trading lot is equivalent of 100 units
**EUR/USD = 1.18748
***GBP/USD = 1.37054
Calculations for exchange rate used as of 13:39 (GMT+1) 09/04/2021