It’s the final day of this week’s forex market and the forex news is pouring in as we speak!!
From crude oil to currency drama, there’s a lot to discuss so let’s not waste any more time and dive into the Forex news letter.
TODAY IMP DATA : Prelim UoM Consumer Sentiment
Existing Home Sales
Prelim UoM Inflation Expectations
(Yesterday We Recommended to Buy!! Above 103.02)
( Made a High 103.26) target 103.30
Dollar index is trading around 102.94.
Below 102.96… Sell it.
Downside Targets Looks 102.83 — 102.59
Stop loss below 103.15.
XAUUSD
(Yesterday We Recommended to Sell!! Below $2004)
( Made a Low $2001) target $1988
Above $2032… Buy levels Only
Upside Targets Looks $2039–$2049.
Stop-loss $2021.
XAGUSD
Buy Above $22.88.…levels Only
Upside Targets Looks $23 — 23.24.
Stop Loss 22.67.
COPPER
( Yesterday Stoploss Hit )
Around 3.76…Buy it
Upside Targets Looks 3.79 — 3.80.
Stop Loss 3.74.
CRUDE OIL (WTI)
(Yesterday We Recommended to Buy!! Above 73.40)
( 1st Target hit 73.80)
Crude Oil is Trading Around 74.24.
Above 75.20.… Buy it!!
Upside Target 75.60–76.20.
Stop Loss 73.70.
NASDAQ
( Yesterday We Recommended to Sell!! Below 16940 )
(Both Target hit 16980–17000 )
Buy Above 17240 Levels Only…!!
Upside Target Looks 17300-17350.
Stop-loss 17120.
S&P 500
( Yesterday We Recommended to Buy!!Above 4780)
(Both Target hit 4800-4814)
S&P 500 Support 4809.
Buy Above 4840…!!
Upside Target Looks 4850-4860.
TOP PICK- USDJPY
( Yesterday We Recommended to EURAUD Sell!! Below 1.6565)
( Target hit 1.6505)
Sell Below 147.65 Stop-loss 148.43 Target 147.20.
Forex News: Oil Jumps and USD JPY on the balance. What’s ahead?
In the latest forex news, WTI oil is jumping nearly 1% after Reuters reported that overnight drone attacks in Russia have taken place. Amidst these events, Russia may have no choice but to break its OPEC production commitment to provide more supply to the war front.
In other news, the USD/JPY is poised to rise a little further if the BOJ is on the verge of holding its outlook. The Japanese Yen(JPY) lost humungous ground against the US dollar since the beginning of the year.
That’s the main news at the moment. We’ll be back with more news soon, so until then, Happy Trading!!
Commodity Samachar
Learn and Trade with Ease
Also Read: Japanese inflation, US consumer sentiment gives direction today, Gold slips as Dollar rises: Can It Weather the Storm?
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