DXY adds to Wednesday’s gains and reclaims 113.00. (Pivot Orderbook analysis)
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- DXY adds to Wednesday’s gains and reclaims 113.00.
- Further up comes the October peak around the 114.00 zone.
The pair currently trades last at 112.97.
The previous day high was 112.15 while the previous day low was 110.42. The daily 38.2% Fib levels comes at 111.49, expected to provide support. Similarly, the daily 61.8% fib level is at 111.08, expected to provide support.
DXY advances further in response to the FOMC-induced tailwinds and regains the 113.00 barrier and above on Thursday.
The Dollar’s recovery looks poised to continue in the near term, always with the immediate target at the October highs in the 114.00 neighbourhood (October 21). Once cleared, the index could then dispute the 2022 peak near 114.80 recorded on September 28.
The current bullish stance is seen unchanged as long as the 9-month support line near 108.80 holds the downside. The latter appears reinforced by the proximity of the 100-day SMA.
In the longer run, DXY is expected to maintain its constructive stance while above the 200-day SMA at 104.38.
Technical Levels: Supports and Resistances
EURUSD currently trading at 112.97 at the time of writing. Pair opened at 112.12 and is trading with a change of 0.76 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 112.97 |
| 1 | Today Daily Change | 133.00 |
| 2 | Today Daily Change % | 0.76 |
| 3 | Today daily open | 112.12 |
The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 112.07, 50 SMA 111.16, 100 SMA @ 108.79 and 200 SMA @ 104.4.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 112.07 |
| 1 | Daily SMA50 | 111.16 |
| 2 | Daily SMA100 | 108.79 |
| 3 | Daily SMA200 | 104.40 |
The previous day high was 112.15 while the previous day low was 110.42. The daily 38.2% Fib levels comes at 111.49, expected to provide support. Similarly, the daily 61.8% fib level is at 111.08, expected to provide support.
Note the levels of interest below:
- Pivot support is noted at 110.98, 109.84, 109.25
- Pivot resistance is noted at 112.71, 113.29, 114.44
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 112.15 |
| Previous Daily Low | 110.42 |
| Previous Weekly High | 112.54 |
| Previous Weekly Low | 109.54 |
| Previous Monthly High | 113.95 |
| Previous Monthly Low | 109.54 |
| Daily Fibonacci 38.2% | 111.49 |
| Daily Fibonacci 61.8% | 111.08 |
| Daily Pivot Point S1 | 110.98 |
| Daily Pivot Point S2 | 109.84 |
| Daily Pivot Point S3 | 109.25 |
| Daily Pivot Point R1 | 112.71 |
| Daily Pivot Point R2 | 113.29 |
| Daily Pivot Point R3 | 114.44 |
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