NEWS: Gold price is falling -1.3%. Gold is falling due to the rising US Dollar.
Possible Scenarios:
If Gold fails to breach through S1 of 1772.14, our Research Department expects the Gold to undergo a short-term upward correction.
If Gold manages to break below its S1 of 1772.14, our Research Department expects the Gold to extend its losses to its S2 of 1766.52.
Support and Resistance Levels:
Gold |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
1760.90 |
1766.52 |
1772.14 |
1779.63 |
1787.12 |
1792.74 |
1798.36 |
Potential Profit or Potential Loss Calculations:
10 cents per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
(+/-) $100 |
(+/-) €85.1 |
(+/-) £73.01 |
*1 trading lot is equivalent of 100 units
**EUR/USD = 1.17717
***GBP/USD = 1.38400
Calculations for exchange rate used as of 12:57 (GMT+1) 16/09/2021