The forex news for the day is in and it seems like all the focus is on the gold and the US market.
With JOLTS job openings data on the horizon, what can investors as well as traders expect from today’s market?
Well, without further adieu, let’s begin!!
Dollar Index
Buy Above 104.68
Upside Targets Looks 104.87– 105.00
Stop loss below 104.50
XAUUSD
Yesterday We Recommended to Sell Below $2245
(1st Target Hit $2237 )
sell below $2255
Downside Target Looks $2248– $2236.
Stop-loss $2268
XAGUSD
Yesterday We Recommended to Sell Below $24.99
( 1st Target Hit $24.85 )
sell below $25.40
Downside Target Looks $25.20–$25.00
Stop-loss $25.74
COPPER
Buy Above $4.0380
Upside Targets Look $4.0670- $4.0870
Stop Loss $4.0160
CRUDE OIL (WTI)
Buy Around $84.00.
Downside Target $85.00-$86.00
Stop-loss 83.00
NASDAQ
Sell Around 18490 Levels Only…!!
Downside Target Looks 18400–18350.
Stop-loss 18532.
S&P 500 E-Mini
Yesterday We Recommended to Sell Below 5320
Target almost hit
Buy around 5270
Stoploss 5245.
Upside Target Looks 5300-5330.
TOP PICK- CADCHF
Buy Around 0.6675 Stop-loss 0.6658 Target 0.67
Forex News: Gold to be disrupted by JOLTS?
The US JOLTS data is something that’s going to be watched very closely by investors ahead of the March jobs report. Following this, the markets are anticipating a strong probability of a 25 bps Fed rate cut in June.
The gold prices are trading close to record highs as a safe haven bid is set to offset high bond yields. the 10-year US yield has risen further as traders pare Fed rate cut expectations.
That’s all for today folks!!
We’ll be back with more news soon.
Until then, Happy Trading!!
Commodity Samachar
Learn and Trade with Ease
Also Read: Economic Data: Fed Member Speech and US JOLTS Job In the Spotlight?, Unveiling the Potential of Copper
Recommended Read: Breaking Down 5 Technical Analysis Myths: Let’s Get the Facts Straight!
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