US Dollar Index Price Analysis: Another visit to the August peak looks likely
…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for PREMIUM VERSION HERE and login below to read further [lwa][/s2If] [s2If current_user_can(access_s2member_level4)]
- DXY adds to Friday’s gains and reclaims 106.00 and beyond.
- Further upside could extend to the 107.00 region in the near term.
The pair currently trades last at 106.23.
The previous day high was 105.89 while the previous day low was 105.09. The daily 38.2% Fib levels comes at 105.58, expected to provide support. Similarly, the daily 61.8% fib level is at 105.4, expected to provide support.
DXY keeps the recovery mode well in place beyond the 106.00 mark at the beginning of the week.
The continuation of the upside momentum could extend to the August high near the 107.00 yardstick (August 5). Further north, the index could attempt to challenge the weekly high at 107.42 (July 27).
Looking at the broader scenario, the bullish view in the dollar remains in place while above the 200-day SMA at 100.10.
Technical Levels: Supports and Resistances
EURUSD currently trading at 106.23 at the time of writing. Pair opened at 105.68 and is trading with a change of 0.52 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 106.23 |
| 1 | Today Daily Change | 79.00 |
| 2 | Today Daily Change % | 0.52 |
| 3 | Today daily open | 105.68 |
The pair is trading below its 20 Daily moving average @ 106.35, above its 50 Daily moving average @ 105.58 , above its 100 Daily moving average @ 103.58 and above its 200 Daily moving average @ 99.99
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 106.35 |
| 1 | Daily SMA50 | 105.58 |
| 2 | Daily SMA100 | 103.58 |
| 3 | Daily SMA200 | 99.99 |
The previous day high was 105.89 while the previous day low was 105.09. The daily 38.2% Fib levels comes at 105.58, expected to provide support. Similarly, the daily 61.8% fib level is at 105.4, expected to provide support.
Note the levels of interest below:
- Pivot support is noted at 105.22, 104.76, 104.42
- Pivot resistance is noted at 106.01, 106.35, 106.81
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 105.89 |
| Previous Daily Low | 105.09 |
| Previous Weekly High | 106.81 |
| Previous Weekly Low | 104.64 |
| Previous Monthly High | 109.29 |
| Previous Monthly Low | 104.69 |
| Daily Fibonacci 38.2% | 105.58 |
| Daily Fibonacci 61.8% | 105.40 |
| Daily Pivot Point S1 | 105.22 |
| Daily Pivot Point S2 | 104.76 |
| Daily Pivot Point S3 | 104.42 |
| Daily Pivot Point R1 | 106.01 |
| Daily Pivot Point R2 | 106.35 |
| Daily Pivot Point R3 | 106.81 |
[/s2If]
