Forex News Letter: With US Market Closed, What Should Traders Look Out for?

The Forex news is in but with the US markets closed today what’s in store for traders?

Well, there’s a lot of stuff to go over, so without further delays, let’s dive into the interesting forex news!!

            Dollar index     

         (On Friday We Recommended to SELL!! Below 103.80) 

       (1st Target Hit 103.60)

   Sell Below 103.75

    Downside Targets Looks 103.60 – 103.40

 Stop loss below 104.00

   XAUUSD 

         ( On Friday We Recommended to BUY!! Above $2010.30) 

       (1st  Target Hit $2020 2^nd target almost hit…$2023)  

Buy Above  $2024

  Upside Targets Looks  $2030–$2035.
        Stop-loss $2014.

XAGUSD   

         ( On Friday We Recommended to BUY!! Above $23.05) 

       (Both  Target Hit  $23.20– $23.40)  

             Buy Around  $22.96…
      Upside Targets Looks  $23.30– $23.56.

   Stop Loss $22.80.

         COPPER         

    ( On Friday We Recommended to Buy!! Above $3.80 ) 

       (Both  Target Hit  $3.82– $3.85.)  

  Buy Above  $3.85

  Upside  Targets Look $3.88– $3.90.

  Stop Loss $3.79.

CRUDE OIL (WTI)

       Crude Oil is Trading Around $77.81

               Below  $77.47… Sell it!!

        Downside Target $76.70-.$76. 

         Stop Loss $78.50. 

 
     NASDAQ

          Sell Below 17720  Levels Only…!!
      Downside Target Looks 17550–17500.

      Stop-loss 17870.

   S&P 500 E-Mini 

          S&P 500 Resistance and stoploss  5070
  Sell Below  5010

     Downside Target Looks 4970-4950.

 TOP PICK– AUDUSD

    ( On Friday We Recommended to Buy! USDCAD ! Above 1.34870 ) 

       (Target Hit  1.35000.)  

                        Buy Above 0.65518  Stop-loss 0.65124 Target 0.65786.

Forex News: Has Gold Finally Made It’s Move?

Gold prices have jumped as the Fed sees progress in inflation declining towards 2 %. The US PPI rose at a strong pace in January but it was put down to seasonal adjusted fluctuation.

In other forex news with relation to the Fed, the policymakers have considered a surprise rise in the latest consumer price inflation data as a one-time incident, thereby depicting that longer trends are on the way indicating inflation is moving down!!

That’s all for today folks!!

Happy Trading!!

Commodity Samachar
Learn and Trade with Ease

Also Read : Economic Outlook: What Secrets Do US FED Minutes and Eurozone PMI Hold for Market Volatility? , Comex Copper Outlook: Is It Bottoming Out?

Recommended Read : Forex Newsletter – 16 FEB 2024

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