NEWS: Gold price is falling -1.1%. Gold is falling due to an increase in bond yields in the United States. The 10-Year Treasury broke 1% for the first time since March.
Possible Scenarios:
If Gold fails to breach through S1 of 1932.72, our Research Department expects the Gold to undergo a short-term upward correction.
If Gold manages to break below its S1 of 1932.72, our Research Department expects the Gold to extend its losses to its S2 of 1926.50
Support and Resistance Levels:
Gold |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
1920.29 |
1926.50 |
1932.72 |
1941.00 |
1949.28 |
1955.50 |
1961.71 |
Potential Profit or Potential Loss Calculations:
1 dollar per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
(+/-) $100 |
(+/-) €81.07 |
(+/-) £73.46 |
*1 trading lot is equivalent of 100 units
**EUR/USD = 1.23354
***GBP/USD = 1.36130
Calculations for exchange rate used as of 12:48 (GMT) 6/1/2021