NEWS: Gold is dropping 0.79% after first testing a fresh all-time high of $2,483.53.
Possible Scenarios:
If Gold fails to break below Support 1 of 2458.6, our Research Department expects Gold to undergo a short- term upward correction.
If Gold manages to break below Support 1 of 2458.6, our Research Department expects Gold to extend its losses to its Support 2 of 2447.1.
Support and Resistance Levels:
GOLD |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
2435.6 |
2447.1 |
2458.6 |
2474.0 |
2489.4 |
2500.9 |
2512.4 |
Potential Profit or Potential Loss Calculations:
1 dollar per 1 trading lot* |
USD |
EUR** |
GBP*** |
(+/-)100$ |
(+/-)91.40€ |
(+/-)76.74£ |
* 1 trading lot is equivalent of 100 units
** EUR/USD = 1.09405
***GBP/USD= 1.30298
Calculations for exchange rate used as of 14:17 (GMT+1) 17/07/2024