It’s Tuesday and with a lot of news to catch up on, the forex news coming in has been creating waves in the market.
From gold, silver, dollar index, the RBA’s decision and so much more, a plethora of things have to be discussed. Let’s begin!!
Dollar index
Dollar index is trading around 103.660.
(Yesterday we booked the profit 103.50—103.80)
Support at 103.520 and resistance is at 103.930
Buy around 103.530…!!
Upside targets looks 103.760—104.880
Sell below 103.450 levels only
Below 103.450, downside target looks 103—102.470 again
XAUUSD
Afternoon session we have given sell around $2030.
Booked the profit around $2024.
Now XAUUSD trading around $2026
Don’t be hurry to buy …!!
Again Downside Targets Looks $2000—$1988
Sell below $2020…levels only
Will it cross $1980???
XAGUSD
Also, we have given sell around 24.40.
XAGUSD is trading near $24.300!!
Don’t jump for Buying…!!
XAGUSD looks weak below $24.25 levels only
Downside Targets Looks 24—23.80
COPPER
COPPER LOOKS WEAK ON CHART
Copper Is Trading Around $3.7930
We May Expect Downside Targets 3.7680—3.7600
CRUDE OIL (WTI)
Major support $72.00…
Above 74.50… Buy it!!
Downside Targets Looks 73—72.60
Will it cross $72???
NASDAQ
Yesterday we have given sell around 15940.
(Target Achieved)
Booked the profit around 15725.
NASDAQ is trading around 15792
Above 15820… Buy it!!
Upside Targets Looks 15870–15900
S&P 500
S&P 500 Looks Weak on Daily Chart
Trading around 4562
Sell below only 4550
Downside targets looks 4500—4470.
Resistance and stop loss of 4610
TOP PICK- GBPEUR
Buy above 1.16959 Stop loss 1.6547 Target 1.1716
Forex Market News – What’s the Focus?
- The gold market has attempted to cool off after a phenomenal day of trading witnessed yesterday. However the safe haven appeal still remains as Israel continued its aggression on Hamas targets after the ceasefire had come to an end.
- With respect to the dollar, it is attempting to recover lost ground ahead of November NFP data on Friday. In addition the euro has also been facing heavy pressure as the economic outlook struggles to improve.
- The pair AUDUSD fell at a sharp rate after the Reserve Bank of Australia (RBA) decided to keep interest rates at 4.35%. The rate of decline reached its lowest level since the past few weeks.
That’s all for today folks!!
Until next time, Happy Trading!!
Commodity Samachar
Learn and Trade with Ease
Also Read: With GTA 6 Making Waves, Can India’s Gaming Industry Catch Up?, Amid RBA Decision, the AUDUSD reacts negatively. What’s next?
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