Target Thursdays: USDInd, Bitcoin & XAGUSD hit target prices

• USDInd bulls bags over 350 index points

• Bitcoin secures 2 out of 4 profit levels 

• Silver eyes 4th and final M15 profit target

Check out these potential profits that you may have missed from our Daily Market Analysis.

1. USDInd bullish breakout

After struggling for direction in recent days, the USDInd has soared to its highest level in three-months.

• TP hit: YES, prices blasted through 104.679 - the 161.8 golden Fibonacci ratio.

• Why: Sticky US inflation data prompted investors to cut back bets on Fed rate cuts.

• Technicals: Decisive breakout above 104.31 level and D1 channel resistance.

2. Bitcoin hits fresh 2024 high

Bitcoin has seen spectacular bullish action over the past two weeks, especially after the cryptocurrency surged to a fresh 2024 high!

• TP hit: YES, 2 out of the 4 profit targets have been hit so far.

• Why: Positive sentiment towards cryptocurrency amid growing success of bitcoin ETFs.

• Technicals: H4 Momentum, MACD and 50 LWMA point to further upside.

3. Silver nears 4th profit level  

Silver prices kicked off Thursday morning on a positive note with prices breaking through the bullish prices targets on the M15 timeframe.

• TP hit: YES, 3 out of the 4 profit targets have been hit his morning.

• Why: The precious metal seems to be drawing strength from a weaker dollar

• Technicals: Prices bullish on M15 timeframe. Momentum and MACD signal further upside.

The above scenario (XAGUSD) is based on the FXTM Signals that are posted twice a day (before the London and New York sessions) for all FXTM clients to follow.

This can be found in the MyFXTM profile under Trading Services... FXTM Trading Signals.