Gold Price Analysis – May 03, 2024
Daily Price Outlook
Gold price (XAU/USD) failed to halt its downward rally and remained well offered around the $2,300 level, hitting the intraday low of $2,297.86. However, the reason for this downward rally could be associated with the risk-on market sentiment, which undermined the safe-haven demand for the precious metal.
Furthermore, the Fed's less hawkish stance and a bearish US dollar were seen as key factors that helped limit gold price's deeper losses due to their inverse relationship.
Looking forward, investors will keep their eyes on the closely watched US monthly jobs data, known as the Nonfarm Payrolls (NFP) report. They're waiting for cues about the Federal Reserve's rate-cut path before making fresh directional bets.
Impact of US Economic Data and Federal Reserve's Comments on Gold Price
On the US front, the Fed Chair Jerome Powell made cautious comments after the decision to keep interest rates steady at 5.25%-5.50%. He signaled no plans for further rate hikes, which has led to the weakening of the US Dollar (USD).
This "dovish" stance suggests the Fed is prioritizing economic growth over controlling inflation. This news, coupled with positive market sentiment, reduced demand for safe-haven assets like gold.
On the data front, US Initial Jobless Claims for the week ending April 26 remained steady at 208K, the lowest level in two months and below the expected 212K, which could give the Federal Reserve room to delay interest rate cuts.
Meanwhile, US Nonfarm Productivity in the first quarter increased by 0.3%, lower than the anticipated 0.8% and the previous quarter's 3.5% rise. This marks the slowest productivity growth since the January-March quarter in 2023. These figures suggest a stable job market but weaker productivity, which could impact the Fed's decision-making regarding monetary policy.
Therefore, the dovish stance from Fed Chair Powell, signaling no further rate hikes, coupled with positive market sentiment and stable job market data, reduced demand for safe-haven assets like gold, causing its price to decrease.
Impact of Federal Reserve's Comments on Market and Gold Price
The global market was positive on Friday, with the S&P 500 Index gaining for the second consecutive session, following Wall Street's positive movements. This was driven by the US Federal Reserve's reassurances, dismissing concerns about another interest rate hike.
Federal Reserve Chair Jerome Powell's remarks raised hopes for interest rate cuts, increasing the chances of a cut by September to 61.3%. This, along with investor optimism, is supporting the S&P 500.
Therefore, the positive market sentiment, driven by the Federal Reserve's reassurances and hopes for interest rate cuts, reduced the demand for safe-haven assets like gold, causing its price to decrease.
GOLD (XAU/USD) - Technical Analysis
In today's financial markets, gold prices edged higher, trading at $2305.84, which marks a 0.16% increase. The precious metal is currently trading just below its pivot point at $2318, indicating a potential zone of indecision among traders.
With the Relative Strength Index (RSI) at 46, the market sentiment appears neutral, reflecting a balance between buying and selling pressures. Moreover, the 50-Day Exponential Moving Average (EMA) stands at $2319, closely aligned with the pivot point, suggesting that any significant move above this level could signal a shift toward a bullish market stance.
Looking at the resistance and support levels, gold faces immediate resistance at $2349, with further barriers at $2370 and $2393.
Should momentum increase and these levels be breached, it could pave the way for more substantial gains. On the downside, support is found at $2283, with additional safeguards at $2265 and $2248. If prices slip below these points, it could trigger a sell-off.
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GOLD Price Analysis and Trade Forecast: Daily Trading Signal
Daily Price Outlook
- Sell below the pivot of $2317 with a target of $2287 and a stop loss at $2338.
- Watch the $2319 level closely, as movement above this could alter the bearish outlook.
- Maintain vigilance around key support levels, as breaking below could enhance bearish momentum.
In today's financial markets, gold prices edged higher, trading at $2305.84, which marks a 0.16% increase. The precious metal is currently trading just below its pivot point at $2318, indicating a potential zone of indecision among traders.
With the Relative Strength Index (RSI) at 46, the market sentiment appears neutral, reflecting a balance between buying and selling pressures. Moreover, the 50-day Exponential Moving Average (EMA) stands at $2319, closely aligned with the pivot point, suggesting that any significant move above this level could signal a shift toward a bullish market stance.
Looking at the resistance and support levels, gold faces immediate resistance at $2349, with further barriers at $2370 and $2393.
Should momentum increase and these levels be breached, it could pave the way for more substantial gains. On the downside, support is found at $2283, with additional safeguards at $2265 and $2248. If prices slip below these points, it could trigger a sell-off.
GOLD (XAU/USD) - Trade Ideas
Entry Price – Sell Below 2317
Take Profit – 2287
Stop Loss – 2338
Risk to Reward – 1: 1.4
Profit & Loss Per Standard Lot = +$3000/ -$2100
Profit & Loss Per Mini Lot = +$300/ -$210
GOLD Price Analysis and Trade Forecast: Daily Trading Signal
Daily Price Outlook
- Current Price Analysis: Gold is currently trading at $2,310.99, reflecting a decrease of 0.38% from the previous close.
- Key Resistance and Support Levels: Resistance levels are set at $2,349, $2,370, and $2,393, with support firmly established at $2,283, $2,265, and $2,248.
- Technical Indicator Overview: The Relative Strength Index (RSI) stands at 47, indicating a balanced market, while the 50-day EMA at $2,323 suggests potential overhead resistance.
Today, gold is trading at $2,310.99, marking a decrease of 0.38%. The precious metal's price movement appears relatively subdued as it navigates through a phase of consolidation. Given the current market conditions, several key levels and technical indicators provide insights into potential future movements.
The pivot point for today is established at $2,325, indicating a neutral point between buyers and sellers. As for resistance, gold faces its first major barrier at $2,349.
If prices push beyond this, we could see further resistance at $2,370 and $2,393, challenging bulls to sustain a breakout. Conversely, support levels are firm at $2,283, followed by additional floors at $2,265 and $2,248, which may provide a cushion if downward pressure resumes.
In terms of technical indicators, the Relative Strength Index (RSI) is at 47, suggesting a balanced market without clear signs of overextension in either direction. The 50-day Exponential Moving Average (EMA), situated at $2,323, hovers just above the current price, hinting at possible resistance on attempts to ascend.
In conclusion, while the market's direction today seems tentative, traders should consider a cautious approach. Key levels to watch include:
GOLD (XAU/USD) - Trade Ideas
Entry Price – Sell Below 2318
Take Profit – 2295
Stop Loss – 2338
Risk to Reward – 1: 1.5
Profit & Loss Per Standard Lot = +$2300/ -$2000
Profit & Loss Per Mini Lot = +$230/ -$200
Gold Price Analysis – May 02, 2024
Daily Price Outlook
Despite reports of Israel impeding aid missions to Gaza, the safe-haven Gold price (XAU/USD) was unable to halt its previous day's downward trend, remaining bearish around the $2,299.18 level and hitting an intraday low of $2,295.31.
However, this decline was influenced by various factors, including a bullish US dollar and the growing consensus that the Federal Reserve (Fed) will maintain higher interest rates for an extended period, which were seen as key factors contributing to the downward pressure on gold prices.
Impact of Federal Reserve's Stance and Economic Data Releases on US Dollar and Gold Prices
On the US front, the broad-based US dollar continued to strengthen amid expectations that the Federal Reserve will uphold higher interest rates in response to persistent inflation. The Fed signaled a cautious stance toward reducing interest rates until they are confident about a sustained decline in inflation. This position bolstered US Treasury bond yields and the US dollar.
Despite ongoing inflation, Fed Chair Jerome Powell indicated that there wouldn't be further rate hikes, foreseeing that rates would stay elevated due to a slower disinflation process. This announcement negatively affected gold prices.
Investors will also be closely monitoring the release of the highly anticipated US Nonfarm Payrolls (NFP) report on Friday. However, the economic calendar includes critical data such as Challenger Job Cuts, Weekly Initial Jobless Claims, and Trade Balance figures, all of which could have a significant impact on market sentiment.
Impact of Easing Geopolitical Tensions and Peace Talks Optimism on Gold Prices
On the geopolitical front, the easing tensions between Iran and Israel are shifting investor focus away from safe-haven assets like gold. Meanwhile, the optimism surrounding peace talks between Israel and Hamas is boosting global risk sentiment. Nevertheless, Israel's restriction of aid missions to Gaza raises humanitarian concerns despite the geopolitical shifts.
Therefore, the easing tensions and optimism around peace talks may lead to a decrease in demand for safe-haven assets like gold, lowering gold prices despite ongoing humanitarian concerns in Gaza.
GOLD (XAU/USD) - Technical Analysis
Today, gold is trading at $2,310.99, marking a decrease of 0.38%. The precious metal's price movement appears relatively subdued as it navigates through a phase of consolidation. Given the current market conditions, several key levels and technical indicators provide insights into potential future movements.
The pivot point for today is established at $2,325, indicating a neutral point between buyers and sellers. As for resistance, gold faces its first major barrier at $2,349. If prices push beyond this, we could see further resistance at $2,370 and $2,393, challenging bulls to sustain a breakout.
Conversely, support levels are firm at $2,283, followed by additional floors at $2,265 and $2,248, which may provide a cushion if downward pressure resumes.
In terms of technical indicators, the Relative Strength Index (RSI) is at 47, suggesting a balanced market without clear signs of overextension in either direction. The 50-day Exponential Moving Average (EMA), situated at $2,323, hovers just above the current price, hinting at possible resistance on attempts to ascend.
In conclusion, while the market's direction today seems tentative, traders should consider a cautious approach. Key levels to watch include:
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GOLD Price Analysis and Trade Forecast: Daily Trading Signal
Daily Price Outlook
- Gold remains steady, trading just under the key pivot point of $2293.
- Technical indicators suggest possible oversold conditions, hinting at potential upward correction.
- Resistance and support levels are tightly set, highlighting a crucial phase for gold's short-term price movements.
As of today, the price of gold stands at $2286.275, showing no change from the previous session. The precious metal is trading just below a pivotal mark at $2293, suggesting a tentative stance among investors as they navigate through various economic indicators and geopolitical tensions.
The immediate resistance for gold is observed at $2313, with further resistance levels marked at $2330 and $2353. These thresholds are critical if gold is to regain its upward momentum. Conversely, support levels are established at $2277, followed by $2257 and $2233. These points could provide a cushion should gold face downward pressure.
Technical indicators lend a nuanced view of the current market conditions. The Relative Strength Index (RSI) is currently at 30, indicating that gold might be in oversold territory, which typically precedes a potential reversal or at least some corrective upward movement. Meanwhile, the 50-Day Exponential Moving Average (EMA) stands at $2332, which gold has been unable to reclaim, reinforcing the significance of these resistance levels.
Given the strategic setup, a cautious approach might be advisable. Investors should consider a sell limit order at $2300, targeting a take profit at $2278, with a stop loss set at $2315.
GOLD (XAU/USD) - Trade Ideas
Entry Price – Sell Limit 2300
Take Profit – 2278
Stop Loss – 2315
Risk to Reward – 1: 1.4
Profit & Loss Per Standard Lot = +$2200/ -$1500
Profit & Loss Per Mini Lot = +$220/ -$150
Gold Price Analysis – May 01, 2024
Daily Price Outlook
Despite the renewed strength of US dollar. the price of Gold (XAU/USD) gained positive traction and edged higher around the $2,288.39 level, hitting an intraday high of $2,293.24. The upward rally can be linked to multiple factors, including increasing geopolitical tensions, which tend to underpin the safe-haven gold price.
Furthermore, the upticks in the gold price were bolstered by continued gold buying by China. China, the biggest gold buyer, has been steadily purchasing gold since October 2022, marking the longest streak since 2000. This has contributed to upward pressure on gold prices globally.
In contrast, the hawkish Fed stance and bullish US dollar were key factors limiting additional gains in gold prices. Investors are feeling uncertain or hesitant due to upcoming decisions by the Federal Reserve regarding monetary policy.
They are closely watching upcoming economic indicators such as the US ISM Manufacturing PMI (Purchasing Managers' Index) and ADP Employment Change to gauge the health of the economy.
US Dollar Strength and Potential Impact on Gold Prices
On the US front, the broad-based US dollar prolonged its bullish rally and continues to show strength ahead of the US Federal Reserve (Fed) policy meeting. This rally was fueled by US bond yields surging after higher-than-expected Employment Cost Index data.
Furthermore, hawkish remarks from Fed officials, indicating no immediate need for rate cuts, supported the US dollar and could limit gains in the gold price.
Investors will closely watch the press conference following the Fed meeting for guidance. Therefore, a hawkish tone from the Fed could strengthen the US dollar and limit additional gains in precious metals.
China's Gold Purchases and Impact on Gold Prices
On the China front, the world's leading gold consumer has been steadily buying gold since October 2022, marking its longest accumulation of the precious metal since at least 2000. This consistent buying trend is likely to support further increases in the price of gold.
China's actions indicate a strategic move to increase its gold reserves, which could be driven by various factors, including economic stability and long-term investment strategies. Therefore, this continuous gold purchases by China are closely watched by market participants and are expected to have a positive impact on the overall demand and price of gold.
Geopolitical Tensions in Gaza and Impact on Precious Metal Prices
On the geopolitical front, the tensions in the middle east did not show any sign of slowing down and escalated further as Israeli Prime Minister Benjamin Netanyahu announces plans for Israeli forces to enter Gaza's southern city of Rafah, despite a ceasefire deal with Hamas.
Meanwhile, UN chief Guterres expresses dissatisfaction with the slow progress on Gaza aid, urging Israel to prioritize the safety of humanitarian workers and facilitate urgent aid delivery to the enclave.
As per the latest figures, the death toll from Israeli attacks on Gaza since October 7 has surpassed 34,000 Palestinians killed and nearly 78,000 wounded.
Therefore, the ongoing geopolitical tensions, particularly in Gaza, boosted the gold price as investors tend to turn to safe-haven assets such as precious metals during times of uncertainty, driving up demand and causing gold prices to rise.
GOLD (XAU/USD) - Technical Analysis
As of today, the price of gold stands at $2286.275, showing no change from the previous session. The precious metal is trading just below a pivotal mark at $2293, suggesting a tentative stance among investors as they navigate through various economic indicators and geopolitical tensions.
The immediate resistance for gold is observed at $2313, with further resistance levels marked at $2330 and $2353. These thresholds are critical if gold is to regain its upward momentum. Conversely, support levels are established at $2277, followed by $2257 and $2233. These points could provide a cushion should gold face downward pressure.
Technical indicators lend a nuanced view of the current market conditions. The Relative Strength Index (RSI) is currently at 30, indicating that gold might be in oversold territory, which typically precedes a potential reversal or at least some corrective upward movement. Meanwhile, the 50-Day Exponential Moving Average (EMA) stands at $2332, which gold has been unable to reclaim, reinforcing the significance of these resistance levels.
Given the strategic setup, a cautious approach might be advisable. Investors should consider a sell limit order at $2300, targeting a take profit at $2278, with a stop loss set at $2315.
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GOLD Price Analysis – April 30, 2024
Daily Price Outlook
Gold price (XAU/USD) was unable to prolong its previous day's upward rally and turned bearish around the $2,312.22 level, hitting an intraday low of $2,311.55. However, the downward rally was driven by multiple factors including a bullish US dollar and risk-on market sentiment, which undermined the safe-haven gold price as investors preferred to invest in riskier assets due to upbeat market sentiment. Meanwhile, the bullish US dollar, backed by the growing acceptance that the Federal Reserve (Fed) will keep rates higher for longer, was seen as another key factor that kept the gold price lower.
Impact of US Dollar Strength and Fed Expectations on Gold Prices
On the US front, the broad-based US dollar regained its traction, bouncing back from a two-week low amid expectations that the Federal Reserve will maintain higher interest rates due to persistent inflation. Moving on, the upcoming US Nonfarm Payrolls report is expected to provide insights into the Federal Reserve's future interest rate decisions. This could impact the demand for the US dollar and influence the short-term direction of gold prices.
Furthermore, the release of the US Personal Consumption Expenditures (PCE) Price Index highlighted ongoing inflation concerns, reinforcing expectations that the Fed may delay rate cuts until September. The Federal Reserve's upcoming policy announcement, along with the jobs data released on Friday, will provide clues about their future decisions on monetary policy.
Investors will also keep an eye on Tuesday's US economic indicators, including the Chicago PMI and the Consumer Confidence Index, for further market cues.
Impact of Easing Middle East Tensions on Gold Prices
On the geopolitical front, the easing tensions in the Middle East, particularly between Iran and Israel, are leading to a shift in investor sentiment away from safe-haven assets like gold. However, the recent optimism surrounding peace talks between Israel and Hamas in Cairo, coupled with diminishing fears of further escalation, is bolstering global risk sentiment.
Therefore, the easing tensions in the Middle East and improving geopolitical stability are causing investors to move away from safe-haven assets like gold, leading to an increase in selling pressure and a downward impact on gold prices.
GOLD (XAU/USD) - Technical Analysis
On April 30, gold prices settled at $2,329.48, marking a decline of 0.40%. This adjustment places gold just below the pivotal $2,345 mark, suggesting a tepid sentiment among traders as they navigate through various macroeconomic indicators and market dynamics.
The metal faces immediate resistance at $2,361, with further barriers at $2,383 and $2,403. Should gold manage a breakout above these levels, it could signal renewed investor confidence, potentially driven by macroeconomic uncertainties or shifts in the investment climate. Conversely, the support levels are set at $2,314, $2,291, and $2,268. A breach below these could indicate increasing bearish pressure, possibly influenced by a stronger U.S. dollar or rising real yields.
The 50-Day Exponential Moving Average (EMA) at $2,344 nearly coincides with the current pivot point, underscoring a crucial technical juncture. The Relative Strength Index (RSI) stands at 46, hinting at a lack of strong momentum in either direction but leaning towards bearish territory.
Trading Strategy:
- Given the current technical setup, the strategy would involve a cautious approach:
- Entry Price: Consider initiating a sell position if gold falls below $2,335.
- Take Profit: Set the profit target at $2,314 to capitalize on potential downward moves.
- Stop Loss: Place a stop loss at $2,350 to manage risk effectively.
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GOLD Price Analysis and Trade Forecast: Daily Trading Signal
Daily Price Outlook
- Gold dips to $2,329.48, a 0.40% decrease, nearing the key $2,345 pivot point.
- Resistance levels at $2,361, $2,383, and $2,403; breach could boost investor confidence.
- Support established at $2,314, $2,291, $2,268; falling below may amplify bearish trends.
On April 30, gold prices settled at $2,329.48, marking a decline of 0.40%. This adjustment places gold just below the pivotal $2,345 mark, suggesting a tepid sentiment among traders as they navigate through various macroeconomic indicators and market dynamics.
The metal faces immediate resistance at $2,361, with further barriers at $2,383 and $2,403. Should gold manage a breakout above these levels, it could signal renewed investor confidence, potentially driven by macroeconomic uncertainties or shifts in the investment climate. Conversely, the support levels are set at $2,314, $2,291, and $2,268. A breach below these could indicate increasing bearish pressure, possibly influenced by a stronger U.S. dollar or rising real yields.
The 50-Day Exponential Moving Average (EMA) at $2,344 nearly coincides with the current pivot point, underscoring a crucial technical juncture. The Relative Strength Index (RSI) stands at 46, hinting at a lack of strong momentum in either direction but leaning towards bearish territory.
Trading Strategy:
- Given the current technical setup, the strategy would involve a cautious approach:
- Entry Price: Consider initiating a sell position if gold falls below $2,335.
- Take Profit: Set the profit target at $2,314 to capitalize on potential downward moves.
- Stop Loss: Place a stop loss at $2,350 to manage risk effectively.
GOLD (XAU/USD) - Trade Ideas
Entry Price – Sell Below 2335
Take Profit – 2314
Stop Loss – 2350
Risk to Reward – 1: 1.4
Profit & Loss Per Standard Lot = +$2100/ -$1500
Profit & Loss Per Mini Lot = +$210/ -$150
GOLD Price Analysis – April 29, 2024
Daily Price Outlook
Despite the Federal Reserve (Fed) delaying interest rate cuts due to persistent inflation, the Gold price (XAU/USD) continued its upward trend, remaining well bid around $2,342 and hitting an intra-day high of $2,344.39. The rise in gold prices can be attributed to the weakening US dollar, which failed to gain traction despite the Fed's hawkish stance amid a risk-on market sentiment. In the meantime, the losses in the US dollar were further bolstered by the strong rally in the Japanese Yen (JPY). Moreover, the ongoing geopolitical tensions regarding the Russia-Ukraine war and the Israel-Hamas conflict were seen as another key factor that kept the safe-haven gold price higher.
US Dollar Weakness and Fed's Hawkish Stance Fuel Gold Price Surge
Despite the Federal Reserve's hawkish stance on interest rates, the broad-based US dollar is losing traction and still flashing red amid positive market sentiment. Hence, the bearish trend in dollar helping the gold prices to stay bid. Investors are paying close attention to the Federal Reserve's upcoming decision on interest rates. They expect the Fed to keep rates steady between 5.25% and 5.5%. The US economy is strong, but rising inflation has led to speculation that rate cuts might not occur until September.
On the data front, the US Bureau of Economic Analysis reported on Friday that the Personal Consumption Expenditures (PCE) Price Index rose 0.3% in March, exceeding expectations for a reading of 2.6%. The yearly rate also climbed to 2.7% from 2.5% in February. Meanwhile, the core PCE Price Index, which excludes volatile food and energy prices, remained steady at 2.8%, higher than the anticipated 2.6%. These results reinforced the Federal Reserve's hawkish expectations and put pressure on the non-yielding Gold price.
Therefore, the weakening US dollar, coupled with reinforced expectations of a hawkish Federal Reserve due to rising inflation, has contributed to upward pressure on gold prices despite the absence of yield.
Geopolitical Tensions Drive Safe-Haven Appeal for Gold
On the geopolitical front, the ongoing tensions from the Russia-Ukraine conflict and Israel-Hamas disputes are main factors boosting gold's safe-haven appeal. As per the latest report, Ukraine's attacks on Russian oil refineries and its plea for increased US military aid due to escalating frontline conditions, increased geopolitical risks, supporting the gold price.
Despite talks by Hamas officials in Egypt for a ceasefire, Israel has approved continued military action. However, the casualties on both sides highlight the conflict's toll, with over 34,000 Palestinians and over 1,100 Israelis reported dead since October 7. This situation has created uncertainty, potentially driving up the demand for gold as a safe-haven investment.
GOLD (XAU/USD) - Technical Analysis
Gold prices experienced a slight downturn today, trading at $2,333.435, a decrease of 0.20%. The 4-hour chart reveals a technical landscape where the metal is currently fluctuating around a pivotal point of $2,320.43. The market's direction appears to hinge on the ability of gold to sustain levels above this pivot, which could set the stage for an upward movement toward the immediate resistance at $2,353.05.
If gold successfully breaches this first resistance, subsequent targets lie at $2,373.72 and $2,401.28, suggesting potential for a more significant rally if bullish momentum gathers pace. Conversely, should gold falter and drop below the pivot point, it may seek support at lower levels of $2,290.91, followed by $2,268.21 and $2,244.57, which would indicate a strengthening bearish sentiment.
Current technical indicators provide a mixed outlook; the Relative Strength Index (RSI) is at 51, signaling a relatively neutral market sentiment, neither overbought nor oversold. The 50-Day Exponential Moving Average (EMA) at $2,326.43 sits just above the pivot, underscoring a tentative bullish inclination in the near term.
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GOLD Price Analysis and Trade Forecast: Daily Trading Signal
Daily Price Outlook
- Enter a buy position if gold price exceeds the $2,320 pivot, targeting a take profit at $2,354.
- Implement a stop-loss at $2,305 to mitigate risks in case the market moves unfavorably.
- Regularly monitor RSI and 50 EMA indicators to confirm prevailing market trends and sentiment.
Gold prices experienced a slight downturn today, trading at $2,333.435, a decrease of 0.20%. The 4-hour chart reveals a technical landscape where the metal is currently fluctuating around a pivotal point of $2,320.43. The market's direction appears to hinge on the ability of gold to sustain levels above this pivot, which could set the stage for an upward movement toward the immediate resistance at $2,353.05.
If gold successfully breaches this first resistance, subsequent targets lie at $2,373.72 and $2,401.28, suggesting potential for a more significant rally if bullish momentum gathers pace. Conversely, should gold falter and drop below the pivot point, it may seek support at lower levels of $2,290.91, followed by $2,268.21 and $2,244.57, which would indicate a strengthening bearish sentiment.
Current technical indicators provide a mixed outlook; the Relative Strength Index (RSI) is at 51, signaling a relatively neutral market sentiment, neither overbought nor oversold. The 50-Day Exponential Moving Average (EMA) at $2,326.43 sits just above the pivot, underscoring a tentative bullish inclination in the near term.
GOLD (XAU/USD) - Trade Ideas
Entry Price – Buy Above 2320
Take Profit – 2354
Stop Loss – 2305
Risk to Reward – 1: 2
Profit & Loss Per Standard Lot = +$3400/ -$1500
Profit & Loss Per Mini Lot = +$340/ -$150