Spotlight: Forex NewsLetter -“Oil Prices Defy Expectations”

Forex NewsLetter -"Oil Prices Defy Expectations"

The Forex newsletter for the day is here. Without further adieu, let’s dive in!

Dollar Index

(Yesterday we have given Buy above 104.450, Target acheived)

Buy above 105.250
Upside Targets Looks 105.70/106.30
Stop loss below 105.50


Buy above $2323
Upside Target Looks $2330/$2340
Stop-loss below $2316


Buy above $29.27
Upside Target Looks $29.60/$30.00
Stop-loss below $29.00


(Friday we have given Sell below $4.4800, Target acheived)
Sell around $4.4850
Downside Target Look $4.3700/$4.250
Stop Loss above $4.6000


Buy above $78.37
upside Target $79.00/$79.50
Stop-loss below $77.50


(we have given Buy above 19830. Both target done)

Buy above 19990
Upside Target Looks 20050/20110
Stop-loss below – 19930

S&P 500 E-Mini

Buy above 5515
Stop loss below 5480
Upside Target Looks 5550/5570


Sell below 114.800
Stop Loss below 114.300
Target- 115.300/115.800

“Oil Prices Defy Expectations as Traders Weigh EV Impact and Summer Demand”

Oil prices have remained positive this week despite a lack of major headlines. Traders are evaluating the shift to electric vehicles and its medium-to-long-term impact on demand, while anticipating a surge in fuel demand over the summer. This could lead to lower trading volumes as the market seeks clarity on the short-term versus long-term outlook. Meanwhile, the strong US dollar and distress in European bond markets pose challenges for the European Central Bank

Happy Trading!

Commodity Samachar
Learn and Trade with Ease

Also Read : Daily Forex Newsletter Insights: Dollar Index, XAUUSD, COPPER BOJ’s Latest Move: What Lies Ahead for USDJPY?

Recommended Read : Breaking Down 5 Technical Analysis Myths: Let’s Get the Facts Straight!

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