DXY abruptly changes direction and advances past 109.00. (Pivot Orderbook analysis)
…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for PREMIUM VERSION HERE to read full post below containing analysis. In case of any error or you think you are not able to read the full post below, please email us at support#nehcap.com [lwa][/s2If] [s2If current_user_can(access_s2member_level4)]
- DXY abruptly changes direction and advances past 109.00.
- The next up barrier emerges at the YTD high near 110.80.
The pair currently trades last at 109.4.
The previous day high was 108.86 while the previous day low was 107.81. The daily 38.2% Fib levels comes at 108.21, expected to provide support. Similarly, the daily 61.8% fib level is at 108.46, expected to provide support.
DXY now challenges 3-day highs in the mid-109.00s following an unexpected change of heart among investors in the wake of higher-than-expected US CPI.
The short-term bullish view in the dollar remains in place as long as it trades above the 7-month support line near 106.30. That said, and in light of the current price action, another move to the 20-year highs around 110.80 (September 6) should not be ruled out in the near term.
Looking at the long-term scenario, the constructive view in DXY remains unchanged while above the 200-day SMA at 101.46.
Technical Levels: Supports and Resistances
EURUSD currently trading at 109.4 at the time of writing. Pair opened at 108.3 and is trading with a change of 1.02 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 109.40 |
| 1 | Today Daily Change | 187.00 |
| 2 | Today Daily Change % | 1.02 |
| 3 | Today daily open | 108.30 |
The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 108.84, 50 SMA 107.55, 100 SMA @ 105.53 and 200 SMA @ 101.41.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 108.84 |
| 1 | Daily SMA50 | 107.55 |
| 2 | Daily SMA100 | 105.53 |
| 3 | Daily SMA200 | 101.41 |
The previous day high was 108.86 while the previous day low was 107.81. The daily 38.2% Fib levels comes at 108.21, expected to provide support. Similarly, the daily 61.8% fib level is at 108.46, expected to provide support.
Note the levels of interest below:
- Pivot support is noted at 107.79, 107.27, 106.73
- Pivot resistance is noted at 108.84, 109.38, 109.89
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 108.86 |
| Previous Daily Low | 107.81 |
| Previous Weekly High | 110.79 |
| Previous Weekly Low | 108.36 |
| Previous Monthly High | 109.48 |
| Previous Monthly Low | 104.64 |
| Daily Fibonacci 38.2% | 108.21 |
| Daily Fibonacci 61.8% | 108.46 |
| Daily Pivot Point S1 | 107.79 |
| Daily Pivot Point S2 | 107.27 |
| Daily Pivot Point S3 | 106.73 |
| Daily Pivot Point R1 | 108.84 |
| Daily Pivot Point R2 | 109.38 |
| Daily Pivot Point R3 | 109.89 |
[/s2If]
Join Our Telegram Group
