DXY’s upside momentum meets some resistance around 113.50. (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’s upside momentum meets some resistance around 113.50.
- The dollar could attempt some consolidative mood in the near term.
The pair currently trades last at 113.16.
The previous day high was 113.34 while the previous day low was 112.62. The daily 38.2% Fib levels comes at 113.06, expected to provide support. Similarly, the daily 61.8% fib level is at 112.89, expected to provide support.
The strong rebound in DXY seems to have met quite a firm hurdle around the 113.50 region on Tuesday.
Some range bound trading should not be ruled out in the very near term ahead of the potential continuation of the uptrend. Against that, the next target of note should emerge at the 2002 peak near 114.80 (September 28) seconded by the round level at 115.00.
The prospects for extra gains in the dollar should remain unchanged as long as the index trades above the 7-month support line near 107.70.
In the longer run, DXY is expected to maintain its constructive stance while above the 200-day SMA at 103.01.
Technical Levels: Supports and Resistances
EURUSD currently trading at 113.16 at the time of writing. Pair opened at 113.18 and is trading with a change of -0.02 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 113.16 |
| 1 | Today Daily Change | 54.00 |
| 2 | Today Daily Change % | -0.02 |
| 3 | Today daily open | 113.18 |
The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 111.69, 50 SMA 109.48, 100 SMA @ 107.25 and 200 SMA @ 103.03.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 111.69 |
| 1 | Daily SMA50 | 109.48 |
| 2 | Daily SMA100 | 107.25 |
| 3 | Daily SMA200 | 103.03 |
The previous day high was 113.34 while the previous day low was 112.62. The daily 38.2% Fib levels comes at 113.06, expected to provide support. Similarly, the daily 61.8% fib level is at 112.89, expected to provide support.
Note the levels of interest below:
- Pivot support is noted at 112.75, 112.32, 112.03
- Pivot resistance is noted at 113.47, 113.76, 114.19
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 113.34 |
| Previous Daily Low | 112.62 |
| Previous Weekly High | 112.88 |
| Previous Weekly Low | 110.05 |
| Previous Monthly High | 114.78 |
| Previous Monthly Low | 107.67 |
| Daily Fibonacci 38.2% | 113.06 |
| Daily Fibonacci 61.8% | 112.89 |
| Daily Pivot Point S1 | 112.75 |
| Daily Pivot Point S2 | 112.32 |
| Daily Pivot Point S3 | 112.03 |
| Daily Pivot Point R1 | 113.47 |
| Daily Pivot Point R2 | 113.76 |
| Daily Pivot Point R3 | 114.19 |
[/s2If]
Join Our Telegram Group
