Forex Focus: August Jobs Report Key for US Economy & Fed

The Forex newsletter for the day is here. Dollar Index, XAUUSD, XAGUSD, Copper, Crude Oil, NASDAQ, S&P 500 E-Mini, GBPUSD

Dollar Index

Buy above $101.00
Upside Targets Looks $101.40—$102.00
Stop loss below $100.50

XAUUSD

Sell on rise around $2520
Downside Target Looks $2500–$2480
Stop-loss above $2538

XAGUSD

(yesterday given buy above 28.80, both target achieved. hope you have made a good profit)

Sell around $28.80
Downside Targets Looks $28.40—$28.00
Stop loss above $29.20

COPPER (HG1)

(yesterday given buy above $4.1200, target achieved. hope you have made a good profit)

Buy around $4.1200
Upside Target Look $4.2000
Stop Loss below $4.0800

USOIL (WTI)

Sell below $69.00
Downside Target looks $68.00—$67.00
Stop-loss above $70.00

NASDAQ

Buy around 18800
Upside Target Looks 19000—19200
Stop-loss below 18700

S&P 500 E-Mini

(yesterday given Sell around 5530, both target achieved. hope you have made a good profit)

Sell around 5530
Stop loss above 5545
Downside Target Looks 5500—5480

TOP PICK-

GBPUSD

Buy above $1.3200
Stop loss below $1.3150
Upside Target Looks $1.3250—$1.3300

The August jobs report is expected to clarify the US labor market’s condition, with forecasts of 160,000 job gains and 4.2% unemployment. The report’s outcome may influence the Federal Reserve’s upcoming monetary policy, potentially determining the timing of an anticipated rate cut.

Happy trading!

Commodity Samachar Securities
We Decode the language of the market

Also Read: Economic Focus : US NFP Jobs Data Expected to Spark Volatility Silver Prices Surge 1.66% – Will Stronger US Jobs Data Follow?

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