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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