The forex news is on an exciting turn as it awaits the plethora of US data that’s ready to hit the market
From US unemployment claims and, the Philly Fed manufacturing index to crude oil outlooks, let’s dive into the forex markets.
Without further adieu, let’s begin!!
TODAY IMP DATA : Unemployment Claims Philly Fed Manufacturing Index
Dollar index
Dollar index is trading around 102.94.
Above 103.02… Buy it.
Upside Targets Looks 103.30 — 103.40
Stop loss below 102.75.
XAUUSD
Below $2004…levels Only
Downside Targets Looks $1988–$1979.
Stop-loss $2017.
XAGUSD
Below $22.48.…levels Only
Downside Targets Looks $22 — 21.80 Stop Loss 22.70.
COPPER
Below 3.72…Buy it
Downside Targets Looks 3.70 — 3.69.
Stop Loss 3.77.
CRUDE OIL (WTI)
Crude Oil is Trading Around 73.02.
Above 73.40.… Buy it!!
Upside Target 73.80 –.75.20.
Stop Loss 72.50.
NASDAQ
( Yesterday We Recommended to Sell!! Below 16810 )
( Target hit 16750–16690 )
Buy Above 16940 Levels Only…!!
Upside Target Looks 16980-17000.
Stop-loss 16835.
S&P 500
( Yesterday We Recommended to Sell!! Below 4770)
( Target hit 4750)
S&P 500 Support 4763.
Buy Above 4780…!!
Upside Target Looks 4800-4814.
TOP PICK- EURAUD
( Yesterday We Recommended to USDJPY Sell!! Below 148 )
( Target hit 148.500)
Sell Below 1.6565 Stop-loss 1.6676 Target 1.6505.
Forex News: Will The Deadly Trio Gold, Dollar and Euro shake up the market?
Gold prices have seen a short-term recovery amidst the continuous downtrend. It had marketed a fresh 1 month low near the support of $2000 on Wednesday and then bounced off.
The yellow metal remains a step behind as inventors are keeping their eyes open for potential FED starting its long-awaited rate cut cycle.
In other news, the Euro has bounced back as ECB’s Lagarde pushes back hopes of monetary easing until next summer. The euro has been slowly gathering pace and has been supported by easing risk aversion and ECB Lagarde’s hawkish comments, although the broader trend remains bearish.
That’s all for today, folks, We’ll be back again soon.
Until then, Happy Trading!!
Commodity Samachar
Learn and Trade with Ease
Read More: Look Ahead: US housing and crude inventory data in focus today! , Gold slips as Dollar rises: Can It Weather the Storm?
Recommended Read : Forex News Letter: What’s In Focus Amid US Retail Data and FED Speech?
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