NEWS: Platinum rose on relatively lower US dollar and optimism for improved global economic outlook in 2021, which has supported the entire commodity markets.
Possible Scenarios:
If Platinum fails to break above Resistance 2 of 1224.82, our Research Department expects Platinum to undergo a short-term downward correction.
If Platinum manages to break above Resistance 2 of 1224.82, our Research Department expects Platinum to extend its gains to its Resistance 3 of 1233.06.
Support and Resistance Levels:
EUR/USD |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
1178.14 |
1186.38 |
1194.61 |
1205.60 |
1216.59 |
1224.82 |
1233.06 |
Potential Profit or Potential Loss Calculations:
1 dollar per 1 trading lot* |
USD |
EUR** |
GBP*** |
(+/-)100$ |
(+/-)84.55€ |
(+/-)72.26£ |
* 1 trading lot is equivalent of 100 units
** EUR/USD = 1.18266
*** GBP/USD = 1.38382
Calculations for exchange rate used as of 14:07 (GMT+1) 06/04/2021