The forex news for the day is in and it looks like the US data may take over the market movements.
With gold and the US dollar in focus, what’s in store for the trader within you?
Without further adieu, let’s begin!!
Dollar Index
Yesterday We Recommended to Buy !!Above 104.05)
(Both Target Hit 104.20-104.40 )
Buy Above 104.03
Upside Targets Looks 104.23– 104.43
Stop loss below 103.80
XAUUSD
Buy Above $2218
Upside Targets Looks $2225– $2235.
Stop-loss $2210
XAGUSD
Buy Above $24.80
Upside Targets Looks $25–$25.20
Stop-loss $24.58
COPPER
Buy Above $4.009
Upside Targets Look $4.25- $4.40
Stop Loss $3.99
CRUDE OIL (WTI)
Crude Oil is Trading Around $81.04.
Above $82.50… Buy it!!
Upside Target $83.50-$84.50
Stop-loss 81.50.
NASDAQ
Sell Below 18540 Levels Only…!!
Downside Target Looks 18500–18460.
Stop-loss 18577.
S&P 500 E-Mini
Sell Below 5300
Stoploss 5314.
Downside Target Looks 5280-5260.
TOP PICK- GBPCHF
Buy Above 1.1440 Stop-loss 1.1420 Target 1.1460.
Forex News: Gold and US Dollar – An unbreakable relation!!
The US Dollar has extended its rally to a 3-day winning streak after Fed Board Member Christopher Waller hinted at no interest rate cut in June.
Meanwhile, gold prices hold strong ahead of the US Core PCE inflation. Amid this, Gold has a firm footing ahead of the United States core personal consumption expenditure (PCE) Price Index data for February.
That’s all for today folks!!
We’ll be back with more analysis soon.
Happy Trading!!
Commodity Samachar
Learn and Trade with Ease
Also Read: Copper Price Update: Will copper find support here?, Economic Data: What Surprises Await in Today’s Economic Landscape?
Recommended Read: Breaking Down 5 Technical Analysis Myths: Let’s Get the Facts Straight!
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