Forex Focus: Is the Market Too Sure About ECB’s Rate Cut?

The Forex newsletter for the day is here. DXY , XAUUSD , XAGUSD , COPPER , USOIL , NASDAQ , S&P 500 E-Mini , USDCHF , trade data and US PMI in focus

DXY

Sell below 102.100
downside target 101.800 —101.500
Stop loss above 102.400

XAUUSD

Buy on dip around 2650
Upside target look 2670–2680
Stop loss below 2640

XAGUSD

Sell Around 32.00
Downside target look 31.60–31.20
Stop loss above 32.40

COPPER (HG1)

( Friday given Buy around 4.5600 All given Target done)

Buy around 4.5600
Upside target look 4.5900
Stop loss below 4.5300

USOIL

( Friday given Buy on dip around 74.00 All given Target done)

Buy on dip around 75.00
Upside target look 76.00
Stop loss below 74.00

NASDAQ

Buy around 20100
Upside target look 20200
Stop loss below 20000

S&P 500 E-Mini

Buy around 5770
Upside target look 5800
Stop loss below 5740

Top Pick

( Friday Given USDCHF Buy on dip around 0.84900 All given target done hope you book profit)

USDCHF…..

Sell around 0.85700 Stop loss above 0.86100 Target 0.85300—0.84900

While markets anticipate a 25bp rate cut from the ECB next week due to weak data and lower inflation, there remains uncertainty. The ECB may prefer a more gradual approach, waiting until December for updated projections, making an October cut less certain than expected.

Happy Trading!

Commodity Samachar Securities
We Decode the Language of the Markets

Also Read: Crude skyrockets,primed for more surges until conflict eases US Fed Minutes, CPI, and RBI Policy in Focus This Week

Recommended Read:  MCX Commodities Uncovered: The Must-Knows and Essential Insights [2024]

Want Help On Your Trades ?

Chat with RM