Forex News Letter: Fate of Gold Hanging in the Balance?

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.


        Buy Above  $2039    

  Upside Targets Looks  $2042–$2055.
      Stop-loss $2029.


            Sell Below   $22.19…
             Downside Targets Looks  $22. – $21.70.

       Stop Loss $22.41.


Sell Below $3.7545

  Downside  Targets Look $3.7445– $3.7230.

  Stop Loss $3.7740.


Crude Oil is Trading Around $73.66.

      Below  $73.30… Sell it!!

          Downside Target $72.90–$72.50. 

                   Stop Loss $74.10.  


                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.


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

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?

Want help on your traders?

Chat with our Analyst