Forex Focus: Gold Faces Selling Pressure Amid Economic Shift


The Forex newsletter for the day is here. DXY , XAUUSD , XAGUSD , COPPER , USOIL , NASDAQ , S&P 500 E-Mini , USDCHF….

DXY

Sell around 103.800
Stop loss above 103.950
Target 103.650–103.500

XAUUSD

Buy on dip 2740
Stop loss below 2728
Target 2752–2764

XAGUSD

(Yesterday given Sell on rise around 33.65 all target done)

Buy around 33.80
Stop loss below 33.60
Target 34.00–34.20

USOIL

Buy above 70.80
Stop loss below 70.25
Target 71.30–71.80

COPPER (HG1)

( Yesterday given Buy around 4.3400 all target done)

Sell on rise around 4.3700
Stop loss above 4.3900
Target 4.3500–4.3300

NASDAQ

( Yesterday given Sell around 20350 all target done)

Buy around 20100
Stop loss below 19980
Target 20220–20340

S&P 500 E-Mini

( Yesterday given Sell on rise around 5814 all target done)

Buy around 5755
Stop loss below 2739
Target 5770–5785

Top Pick

EURSEK

Buy around 11.62
Stop loss below 11.59
Target 11.65–11.68

Gold is facing significant selling pressure after failing to maintain recent highs. Anticipated economic data may impact market sentiment. While volatility is expected in the near term, many investors remain optimistic about gold’s long-term potential due to ongoing geopolitical uncertainties and monetary policy shifts.

Happy Trading!

Commodity Samachar Securities
We Decode the Language of the Markets

Also Read: Forex Focus: Oil Prices Rise on US Fuel Demand Optimism , What to expect in Great British Pound apost UK budget?

Recommended Read: Trader’s Guide: Could You Profit from 2024’s Silver and Gold Price Fluctuations?

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