NEWS: Gold price decreased 1.2% . Gold prices are falling sharply, as market volatility spikes ahead of the Federal Reserve Interest Rate decision set for tomorrow.
Possible Scenarios:
If Gold fails to breach through S2 of 1937.32, our Research Department expects the Gold to undergo a short- term upward correction.
If Gold manages to break below its S2 of 1937.32, our Research Department expects the Gold to extend its losses to its S3 of 1924.63
Support and Resistance Levels:
Gold |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
1924.63 |
1937.32 |
1950.02 |
1966.95 |
1983.88 |
1996.58 |
2009.27 |
Potential Profit or Potential Loss Calculations:
1 dollar per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
(+/-) $100 |
(+/-) €92.83 |
(+/-) £81.82 |
*1 trading lot is equivalent of 100 units
**EUR/USD = 1.07719
***GBP/USD = 1.22216
Calculations for exchange rate used as of Tuesday, March 21, 2023, GMT 14:20h