NEWS: Gold price is falling -1.2% following retaliatory tariffs announced by the Chinese government.
Possible Scenarios:
If Gold fails to breach through S1 of 3073.61, our Research Department expects the Gold to undergo a short- term upward correction.
If Gold manages to break below its S1 of 3073.61, our Research Department expects the Gold to extend its losses to its S2 of 3055.31.
Support and Resistance Levels:
Gold |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
3037.01 |
3055.31 |
3073.61 |
3098.00 |
3122.39 |
3140.69 |
3158.99 |
Potential Profit or Potential Loss Calculations:
1 dollar per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
(+/-) $100 |
(+/-) €90.44 |
(+/-) £76.87 |
*1 trading lot is equivalent of 100 units
**EUR/USD = 1.10566
***GBP/USD = 1.30098
Calculations for exchange rate used as of Friday, April 4, 2025, 12:15 (GMT)