Price action around the index looks unconvincing on Tuesday (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)]
- Price action around the index looks unconvincing on Tuesday
- Persistent weakness should open the door to a drop to 101.30.
The pair currently trades last at 103.33.
The previous day high was 103.95 while the previous day low was 102.94. The daily 38.2% Fib levels comes at 103.33, expected to provide resistance. Similarly, the daily 61.8% fib level is at 103.56, expected to provide resistance.
DXY trades in an inconclusive tone in the low-103.00s on Tuesday.
A drop below the so far January low at 102.94 (January 9) could prompt the May 2022 low around 101.30 (May 30) to re-emerge on the horizon ahead of the psychological 100.00 level.
In the meantime, while below the 200-day SMA at 106.35 the outlook for the index should remain tilted to the negative side.
Technical Levels: Supports and Resistances
EURUSD currently trading at 103.33 at the time of writing. Pair opened at 103.19 and is trading with a change of 0.14 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 103.33 |
| 1 | Today Daily Change | 31.00 |
| 2 | Today Daily Change % | 0.14 |
| 3 | Today daily open | 103.19 |
The pair remains strongly bearish on the daily time frame. It trades below the 20 SMA @ 104.2, 50 SMA 105.23, 100 SMA @ 108.23 and 200 SMA @ 106.8.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 104.20 |
| 1 | Daily SMA50 | 105.23 |
| 2 | Daily SMA100 | 108.23 |
| 3 | Daily SMA200 | 106.80 |
The previous day high was 103.95 while the previous day low was 102.94. The daily 38.2% Fib levels comes at 103.33, expected to provide resistance. Similarly, the daily 61.8% fib level is at 103.56, expected to provide resistance.
Note the levels of interest below:
- Pivot support is noted at 102.77, 102.35, 101.76
- Pivot resistance is noted at 103.78, 104.37, 104.79
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 103.95 |
| Previous Daily Low | 102.94 |
| Previous Weekly High | 105.63 |
| Previous Weekly Low | 103.43 |
| Previous Monthly High | 106.02 |
| Previous Monthly Low | 103.39 |
| Daily Fibonacci 38.2% | 103.33 |
| Daily Fibonacci 61.8% | 103.56 |
| Daily Pivot Point S1 | 102.77 |
| Daily Pivot Point S2 | 102.35 |
| Daily Pivot Point S3 | 101.76 |
| Daily Pivot Point R1 | 103.78 |
| Daily Pivot Point R2 | 104.37 |
| Daily Pivot Point R3 | 104.79 |
[/s2If]
Join Our Telegram Group
