The index extends the side-lined trading around 102.00. (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)]
- The index extends the side-lined trading around 102.00.
- The resumption of the downside could retest the 101.30 region.
The pair currently trades last at 102.07.
The previous day high was 102.27 while the previous day low was 101.58. The daily 38.2% Fib levels comes at 102.01, expected to provide support. Similarly, the daily 61.8% fib level is at 101.85, expected to provide support.
DXY trades within a consolidative phase around the 102.00 neighbourhood for yet another session on Tuesday.
Further range bound should not be ruled out for the time being. In case bears regain the upper hand, the index could then slip further back and revisit the so far 2023 low at 101.52 (January 18) ahead of the May 2022 low around 101.30 (May 30), all before the psychological 100.00 yardstick.
In the meantime, while below the 200-day SMA at 106.45 the outlook for the index should remain tilted to the negative side.
Technical Levels: Supports and Resistances
EURUSD currently trading at 102.07 at the time of writing. Pair opened at 102.03 and is trading with a change of 0.04 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 102.07 |
| 1 | Today Daily Change | 46.00 |
| 2 | Today Daily Change % | 0.04 |
| 3 | Today daily open | 102.03 |
The pair remains strongly bearish on the daily time frame. It trades below the 20 SMA @ 103.27, 50 SMA 104.34, 100 SMA @ 107.48 and 200 SMA @ 106.78.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 103.27 |
| 1 | Daily SMA50 | 104.34 |
| 2 | Daily SMA100 | 107.48 |
| 3 | Daily SMA200 | 106.78 |
The previous day high was 102.27 while the previous day low was 101.58. The daily 38.2% Fib levels comes at 102.01, expected to provide support. Similarly, the daily 61.8% fib level is at 101.85, expected to provide support.
Note the levels of interest below:
- Pivot support is noted at 101.65, 101.27, 100.96
- Pivot resistance is noted at 102.34, 102.65, 103.03
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 102.27 |
| Previous Daily Low | 101.58 |
| Previous Weekly High | 102.90 |
| Previous Weekly Low | 101.51 |
| Previous Monthly High | 106.02 |
| Previous Monthly Low | 103.39 |
| Daily Fibonacci 38.2% | 102.01 |
| Daily Fibonacci 61.8% | 101.85 |
| Daily Pivot Point S1 | 101.65 |
| Daily Pivot Point S2 | 101.27 |
| Daily Pivot Point S3 | 100.96 |
| Daily Pivot Point R1 | 102.34 |
| Daily Pivot Point R2 | 102.65 |
| Daily Pivot Point R3 | 103.03 |
[/s2If]
Join Our Telegram Group
