NEWS: Gold price is falling 1.0%. Gold prices fell sharply after stronger than expected US retail sales data sparked hawkish concerns.
Possible Scenarios:
If Gold fails to breach through S1 of 2328.47, our Research Department expects the Gold to undergo a short- term upward correction.
If Gold manages to break below its S1 of 2328.47, our Research Department expects the Gold to extend its losses to its S2 of 2310.7.
Support and Resistance Levels:
Gold |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
2292.93 |
2310.70 |
2328.47 |
2352.16 |
2375.85 |
2393.62 |
2411.39 |
Potential Profit or Potential Loss Calculations:
1 dollar per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
(+/-) $100 |
(+/-) €94.06 |
(+/-) £80.24 |
*1 trading lot is equivalent of 100 units
**EUR/USD = 1.06316
***GBP/USD = 1.24621
Calculations for exchange rate used as of Monday, April 15, 2024, GMT +1 15:20h