Forex News Letter: Gold Dips, Dollar Surfs!

Forex News Letter: Gold Dips, Dollar Surfs!

The forex news is in and it seems Gold has finally met its match.

With the inflation data causing unanticipated falls, what’s next for traders?

Let’s get started!!

Dollar Index

Sell around   103.80

Downside Targets Looks 103.60 – 103.20

 Stop loss Above 104.35


Yesterday We Recommended to Buy around $2338

( Both target hits – $2352– $2365)

Buy around $2320

Upside Target Looks  $2335– $2350
    Stop-loss Below $2305


Yesterday We Recommended to Buy around  $27.70

( Both target hits –  $28.00 –$28.40)

Buy around  $27.40

       Upside Target Looks $27.50 –$28.10
         Stop-loss Below $27.20


Yesterday We Recommended to Buy Around $4.2615

( Both target hits –$4.2900-$4.3100)

Buy Around $4.2430

Upside Targets Look $4.2830-$4.3330

  Stop Loss Below $4.2100


Crude Oil is Trading Around $85.47

Yesterday We Recommended to Buy Around $85.40  

First target hits –$86.40

Buy Above $85.80       

     Upside Target $87.00-$88.00

Stop-loss below 85.00


Buy Around 18230
Upside Target Looks 18350 –18420.

      Stop-loss Below 18160

S&P 500 E-Mini 

Buy Around 5200

Stoploss Below 5150

Upside Target Looks 5250-5300


Sell Around 1.0925 Stop-loss Above 1.0950 Target 1.0900

Forex News: Gold Dips, Dollar Surfs the Wave!

The gold prices have faced an intense sell-off on hot US inflation data for March. The US monthly headline and the core CPI had grown steadily by 0.4%. The escalating geopolitical tensions have kept the demand for gold intact.

The US Dollar has rallied with inflation coming in at a fast pace. The traders are writing off 3 cuts for 2024 and now they only see 2.

That’s all for today folks. We’ll be back with more info soon.

Until then, Happy Trading!

Commodity Samachar
Learn and Trade with Ease

Also Read: Natural Gas At Key Resistance – Will It Break or Not ?, Economic Data: US CPI and Fed Minutes – Will They Dictate Sentiment?

Recommended Read: The Commodity Market — Why is it advantageous to traders?

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