The forex newsletter for the day is here. Without further adieu, let’s dive in!
Dollar Index
Buy above 104.40
Upside Targets Looks 104.80—105.30
Stop loss Below 103.90
XAUUSD
Sell Below $2325
Down side Target Looks $2314–$2305
Stop-loss above 2335
XAGUSD
Sell around $31.00
Downside Target Looks $30–$29
Stop-loss above $32
COPPER
Sell around $4.72
Down side Targets Look $4.60–$4.50
Stop Loss below $4.84
CRUDE OIL (WTI)
Crude Oil is Trading Around $77.12!!
Buy above $ 77.60
Up side Target $79—$80
Stop-loss Below $76
NASDAQ
sell below 18600
Down side Target Looks 18400 —18200
Stop-loss Below-18800
S&P 500 E-Mini
Buy above 5320
Stop loss above 5250
Down side Target Looks 5400–5450
TOP PICK-EURUSD
Buy above 1.0860 Stop Loss below 1.0820 Target- 1.0900
Forex News in Focus:
The British Pound (GBP) is expected to maintain its current trading range this week, with no significant data points or interest rate decisions scheduled. The Bank of England (BoE) is not set to make its next rate call until June 20, and markets are pricing in only one quarter-point rate cut this year. The Pound’s strength is attributed to the uncertainty surrounding the timing of rate cuts, with inflation in the UK trending downward but not fast enough to support significant rate reductions. The Pound’s neutral outlook is further influenced by the upcoming European Central Bank (ECB) rate decision, which is expected to be the first major rate cut this week
Happy Trading!
Commodity Samachar
Learn and Trade with Ease
Also Read:Crude Oil Price: The OPEC+ Decision That Could Change Everything Economic Data: This week’s focus is on US NFP, Canada and ECB rate decision!
Recommended Read:The Commodity Market — Why is it advantageous to traders?
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