NEWS: Gold price is falling -1.2% following higher than expected US Producer Price Index data
Possible Scenarios:
If Gold fails to breach through S2 of 3331.26, our Research Department expects the Gold to undergo a short- term upward correction.
If Gold manages to break below its S2 of 3331.26, our Research Department expects the Gold to extend its losses to its S3 of 3320.65
Support and Resistance Levels:
Gold |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
3320.65 |
3331.26 |
3341.86 |
3356.00 |
3370.14 |
3380.74 |
3391.35 |
Potential Profit or Potential Loss Calculations:
1 dollar per 1 trading lot* |
USD |
EUR** |
GBP*** |
(+/-) $100 |
(+/-) €85.85 |
(+/-) £73.86 |
*1 trading lot is equivalent of 100 units
**EUR/USD = 1.16477
***GBP/USD = 1.35393
Calculations for exchange rate used as of Thursday, August 14, 13:20 GMT+1