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Forex Focus: Oil Prices Rebound Amid Hurricane Francine


Forex Focus: Oil Prices Rebound Amid Hurricane Francine

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

Dollar Index

Sell around $101.00
Downside Targets Looks $100.50—$100.00
Stop loss above $101.60

XAUUSD

buy on dip around $2500
Upside Target Looks $2520—$2540
Stop-loss below $2480

XAGUSD

Buy above $28.90
Upside Targets Looks $29.20–$29.70
Stop loss below $28.50

COPPER (HG1)

Buy around $4.1600
Upside Target Look $4.2200
Stop Loss below $4.1000

USOIL (WTI)

Sell on rise around $68.00
Downside Target looks $66.00–$64.00
Stop-loss above $70.00

NASDAQ

Buy around 18800
Upside Target Looks 19000—19200
Stop-loss below 18600

S&P 500 E-Mini

Sell on rise around 5530
Stop loss above 5570
Downside Target Looks 5500—5480

TOP PICK-

GBPUSD

Sell below $1.3060
Stop loss above $1.3110
Downside Target Looks $1.3000

Oil prices rose over 1% as Hurricane Francine threatened U.S. production, reversing losses from the previous day. However, global demand concerns persist, fueled by OPEC’s reduced forecasts and slowdowns in China and the U.S. U.S. crude inventories dropped, providing temporary support for prices.

Happy Trading!

Commodity Samachar Securities
We Decode the Language of the Markets

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