Forex News Letter: Gold and The Dollar – An Inverse Relationship!!

The forex news for the day is in and all eyes are on the plethora of PMI data hitting the market today!!

Will crude oil inventories, natural gas storage and the cluster of PMI data make a difference in the market?

Find out now by giving our newsletter a read!!  

Dollar index     

    Downside  Targets Looks 103.03 – 102.80

 Stop loss below 103.78

   XAUUSD 

  ( Yesterday We Recommended to Sell!! Around $2032) 

      (Both  Target Achieved $2026–$2020)    

Buy Above $2035

  Upside Targets Looks  $2039–$204.
        Stop-loss $2030.

          XAGUSD   

          Buy Above   $23.23

         Upside Targets Looks  $23.40–$23.50.
        Stop-loss $23.

        COPPER         

  ( Yesterday We Recommended to Sell !! Below $3.88) 

      (1st Target Achieved $3.86)
  

      Sell Around $3.86

  Downside  Targets Look $3.83– $3.80.

  Stop Loss $3.90.

        CRUDE OIL (WTI)

  ( Yesterday We Recommended to Sell!! Around $77.30) 

      (Stoploss  Triggered)

       Crude Oil is Trading Around $77.80

               Below  $77.60… Sell it!!

        Downside Target $77 -$76.40. 

         Stop Loss $78.40. 

 
     NASDAQ

  ( Yesterday We Recommended to Sell!! Below 17450) 

      (Made a Low  17372)   target 17350 

    Buy Above  18000 Levels Only…!!
      Upside Target Looks 18100–18160.

      Stop-loss 17900.

   S&P 500 E-Mini 

  ( Yesterday We Recommended to Sell!! Below 4970) 

      (made a low 4959)   target 4950           

          S&P 500 Resistance and stoploss  5037
  

 Buy Above 5070

     Upside  Target Looks 5100-5130.

            TOP PICK-  USDJPY

                        Buy Above 150.28  Stop-loss 150.12  Target 150.45.

Forex News: The Inverse Bond of Gold and Dollar in Focus!!

Gold prices have remained strong amid the geopolitical uncertainties happening all around us. With Middle East tension deepening, Gold prices hold steady. The US dollar is also on the back foot as FOMC minutes indicate that rate cuts are not near yet.

The US Dollar on the other hand has fallen to a 3-week low as market sentiment is improving. The US dollar is in a deep red zone after the Fed minutes hit the market.

That’s all for today folks!!

Happy Trading!!

Commodity Samachar
Learn and Trade with Ease

Also Read: Aluminium rises to 3-week high. Will it go higher?, Purchasing Managers Index : Game Changer for Eurozone, UK, and US?

Recommended Read: Dollar Index – It’s Not As Complicated As You Think

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