DXY corrects lower after hitting 20-year tops around 110.00. (Pivot Orderbook analysis)
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- DXY corrects lower after hitting 20-year tops around 110.00.
- Occasional weakness in the dollar could be a buying opportunity.
The pair currently trades last at 109.35.
The previous day high was 110.0 while the previous day low was 108.65. The daily 38.2% Fib levels comes at 109.49, expected to provide resistance. Similarly, the daily 61.8% fib level is at 109.17, expected to provide support.
DXY gives away part of Thursday’s strong advance to new cycle highs just below the 110.00 mark.
The short-term bullish view in the dollar remains well in place for the time being and propped up by the 7-month support line, today around 105.65. The surpass of recent peaks, however, could face the next barrier at the weekly highs at 111.90 (June 6 2002) and 113.35 (May 24 2002).
Looking at the long-term scenario, the bullish view in the dollar remains in place while above the 200-day SMA at 100.99
Technical Levels: Supports and Resistances
EURUSD currently trading at 109.35 at the time of writing. Pair opened at 109.67 and is trading with a change of -0.29 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 109.35 |
| 1 | Today Daily Change | 50.00 |
| 2 | Today Daily Change % | -0.29 |
| 3 | Today daily open | 109.67 |
The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 107.45, 50 SMA 106.79, 100 SMA @ 104.84 and 200 SMA @ 100.88.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 107.45 |
| 1 | Daily SMA50 | 106.79 |
| 2 | Daily SMA100 | 104.84 |
| 3 | Daily SMA200 | 100.88 |
The previous day high was 110.0 while the previous day low was 108.65. The daily 38.2% Fib levels comes at 109.49, expected to provide resistance. Similarly, the daily 61.8% fib level is at 109.17, expected to provide support.
Note the levels of interest below:
- Pivot support is noted at 108.88, 108.09, 107.53
- Pivot resistance is noted at 110.23, 110.79, 111.57
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 110.00 |
| Previous Daily Low | 108.65 |
| Previous Weekly High | 109.27 |
| Previous Weekly Low | 107.53 |
| Previous Monthly High | 109.48 |
| Previous Monthly Low | 104.64 |
| Daily Fibonacci 38.2% | 109.49 |
| Daily Fibonacci 61.8% | 109.17 |
| Daily Pivot Point S1 | 108.88 |
| Daily Pivot Point S2 | 108.09 |
| Daily Pivot Point S3 | 107.53 |
| Daily Pivot Point R1 | 110.23 |
| Daily Pivot Point R2 | 110.79 |
| Daily Pivot Point R3 | 111.57 |
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