The forex news is in and there’s a lot of excitement in the air.
With important data such as the US trade balance and crude oil inventories hitting the market today, it’s time for traders to take action.
So without further adieu, let’s dive into all the important details!!
Dollar index
Dollar index is trading around 103.75.
Below 103.65… Sell it.
Downside Targets Looks 103.48 — 103.30
Stop loss below 103.82.
XAUUSD
Buy Above $2039
Upside Targets Looks $2042–$2055.
Stop-loss $2029.
XAGUSD
Sell Below $22.19…
Downside Targets Looks $22. – $21.70.
Stop Loss $22.41.
COPPER
Sell Below $3.7545
Downside Targets Look $3.7445– $3.7230.
Stop Loss $3.7740.
CRUDE OIL (WTI)
Crude Oil is Trading Around $73.66.
Below $73.30… Sell it!!
Downside Target $72.90–$72.50.
Stop Loss $74.10.
NASDAQ
Sell Below 17650 Levels Only…!!
Downside Target Looks 17600-17570.
Stop-loss 17720.
S&P 500 E-Mini
S&P 500 Resistance 4980.
Sell Below 4960…!!
Downside Target Looks 4930-4910.
TOP PICK– AUDCAD
Sell BELOW 0.87863 Stop-loss 0.88013 Target 0.87659.
Forex News – Dollar, Gold and Silver in Focus!!
The focus for today is on gold as it’s stuck firmly in a tight range slightly above $2030. The gold however is in a tough spot as the Federal Reserve is set to make rate cuts however the uncertainty remains over their timing.
The US Dollar index and the bond yield on the other hand have eased even though the FED is unlikely to cut interest rates in March.
Silver has come under some selling pressure after the drop to a 2 week low during the first half of the European session on Wednesday.
The EUR/USD is an interesting facet of today’s market as it has attracted some buyers in reaction to the hawkish comments by an ECB board member.
That’s all for today!!
Commodity Samachar
Learn and Trade with Ease
Also Read: Crude Oil Outlook: Russia and Middle East’s Turmoil Paving Way for It’s Rise? , US Trade Balance Or Crude Oil Inventories: Who’s Top Dog?
Recommended Read: Forex News Letter: Gold and Crude Oil Stealing the Spotlight?
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