Forex News Letter: Will Jerome Powell Brew Up A Storm?

The Forex News for the Day is in and the deadly tiecta of data is incoming tonight.

With Fed Powell testifying and ADP non-farm employment incoming, it’s going to be a busy day for the market.

Let’s begin!!

( Yesterday We Recommended to Sell!! Below  $103.440) 

      (Both  Target Hit  $103.384-103.316)   

                Dollar index     

                    Sell Below 103.322

   Downside Targets Looks 103.170 – 103.130

 Stop loss below 103.47

   XAUUSD 

    ( Yesterday We Recommended to Buy !! Above  $2128) 

      (1st Target Hit $2135 ) 

Sell Below $2118

 Downside Targets Looks  $2110 – $2105.
        Stop-loss $2132

          XAGUSD  

                           ( Yesterday We Recommended to Buy !! Above  $23.98) 

    (1st Target Hit  $24.12 ) 

     Sell Below   $23.56

         Downside Targets Looks  $23.50–$23.45
         

Stop-loss $23.77

        COPPER        

             Buy Above   $3.87

  Upside Targets Look $3.88- $3.89.

  Stop Loss $3.84.

        CRUDE OIL (WTI)

( Yesterday We Recommended to Sell!! Below  $78.91) 

      (1st Target Hit  $79.40)   

       Crude Oil is Trading Around $78.82

               Above  $79.10… Buy it!!

       Upside Target $79.60 -$80.10. 

         Stop Loss $78. 

 
     NASDAQ

( Yesterday We Recommended to Sell !! Below  18100) 

      (Both Target Hit 18045-18025)     

Buy Above   18102  Levels Only…!!
      Upside  Target Looks 18200–18260.

      Stop-loss 17947.

   S&P 500 E-Mini 

       ( Yesterday We Recommended to Sell!! Below  5140) 

      (Both  Target Hit 5102–5090) 

Buy Above   5110

Stoploss  5081.

    Upside Target Looks 5140-5150.

            TOP PICK– EURCHF

                     Buy Above 0.96331   Stop-loss 0.96135  Target 0.96545.

Forex News: All Eyes on Powell!

Gold seems to be stable and the safe haven demand is still to continue amid the instability. As Central Banks increase the allocation towards safe assets, there is a demand for the yellow metal.

Jerome Powell’s speech is in focus today, As he testifies in the US Congress, the market is getting ready for massive moves. New Clues on the Federal Reserve’s interest rate path are awaited. Commodities, US dollars and other markets might just seem like big moves amidst the speech.

That’s all for today!!

Happy Trading!!

Commodity Samachar
Learn and Trade with Ease

Also Read: Economic Data: UK Budget, Fed Statement, and BoC Policy Focus Is On!! , Tokyo CPI, BOJ Gov Ueda speaks & US services PMI in the spotlight?

Recommended Read: Forex News Letter : US ISM Service Ready To Take The Spotlight?

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