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
XAUUSD
Yesterday We Recommended to Buy around $2338
( Both target hits – $2352– $2365)
Buy around $2320
Upside Target Looks $2335– $2350
Stop-loss Below $2305
XAGUSD
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
COPPER
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 (WTI)
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
NASDAQ
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
TOP PICK-AUDNZD
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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