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Dollar Weakens Ahead of U.S. Election and Fed Rate Cut


Dollar Weakens Ahead of U.S. Election and Fed Rate Cut

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

DXY

(Friday given Sell around 103.800 all target done)

Sell around 103.450
Stop loss above 103.700
Target 103.200–103.00

XAUUSD

(Friday given Buy on dip around 2740 first target done)

Buy on dip around 2735
Stop loss below 2724
Target 2745–2755

XAGUSD

Buy around 32.80
Stop loss below 32.57
Target 34.00–34.20

USOIL

(Friday given Buy above 70.80 first target almost done)

Buy around 71.30
Stop loss below 70.50
Target 72.00–72.80

COPPER (HG1)

Buy on dip around 4.3900
Stop loss below 4.3450
Target 4.4350–4.4800

NASDAQ

( Friday given Buy around 20100 first target done)

Buy around 20100
Stop loss below 19980
Target 20220–20340

S&P 500 E-Mini

( Friday given Buy around 5755 all target done)

Buy around 5755
Stop loss below 2739
Target 5770–5785

Top Pick ( Friday given EURSEK Buy around 11.62 first target done)

EURSEK

Buy around 11.61
Stop loss below 11.58
Target 11.64–11.67

The dollar slid as investors braced for a potential Federal Reserve rate cut and a closely contested U.S. election. Polls indicate a tight race, with Kamala Harris gaining support, contributing to increased market volatility and uncertainty in currency trading.

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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