Dollar Index
Sell Below 104.80
Downside Targets Looks 104.50-104.00
Stop loss Above 105.43
XAUUSD
Buy Above $2348
Upside Target Looks $2360– $2380
Stop-loss Below $2334
XAGUSD
Buy Above $28.20
Upside Target Looks $28.60–$29.00
Stop-loss Below $27.90
COPPER
Sell Below $4.6940
Downside Targets Look $4.6740-$4.6500
Stop Loss Above $4.7245
CRUDE OIL (WTI)
Crude Oil is Trading Around $78.63
Sell Around $80.00
Downside Target $79.00- $78.00
Stop-loss Above $81.05
NASDAQ
Sell Below 18270
Downside Target Looks 18200 –18000
Stop-loss Above -18320
S&P 500 E-Mini
Buy Above 5230
Stoploss Below 5200
Upside Target Looks 5260-5300
TOP PICK-AUDCAD
Buy Above– 0.9050 Stop Loss Below – 0.9010 Target-0.9080
After a period of subdued performance, the U.S. dollar (DXY index) showed resilience this past week, climbing approximately 0.23% to reach 105.31. This resurgence was supported by a slight increase in U.S. Treasury yields and a cautious sentiment among traders ahead of the release of April’s U.S. consumer price index (CPI) figures.
The greenback’s recent rebound could strengthen further if the trend of consistently higher-than-expected inflation data continues in the upcoming CPI report. Forecasts suggest a 0.3% rise in both headline and core CPI figures for the previous month, translating to annual rates of 3.4% and 3.7% respectively, signaling a positive trajectory in inflation.
This positive momentum in the U.S. dollar is underpinned by optimistic economic indicators and expectations surrounding inflation, setting the stage for potential further gains in the currency.
Happy Trading!
Commodity Samachar
Learn and Trade with Ease
Also Read: Navigating the Waves of the EURAUD Exchange Rate: A Trader’s Guide
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