The index adds to the ongoing rebound and approaches 104.00. (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 adds to the ongoing rebound and approaches 104.00.
• Gains could now accelerate to the 105.60 region in the near term.

The pair currently trades last at 103.7.

The previous day high was 103.77 while the previous day low was 103.01. The daily 38.2% Fib levels comes at 103.48, expected to provide support. Similarly, the daily 61.8% fib level is at 103.3, expected to provide support.

The dollar’s march north remains unabated on Tuesday and encourages DXY to challenge the 55-day SMA near 103.80.

In the near term, further gains appear in the pipeline while above the 3-month support line near 101.90. That said, the next target of note now emerges at the 2023 peak at 105.63 recorded on January 6.

In the longer run, while below the 200-day SMA at 106.45, the outlook for the index remains negative.

Technical Levels: Supports and Resistances

EURUSD currently trading at 103.7 at the time of writing. Pair opened at 103.64 and is trading with a change of 0.06 % .

The pair is trading above its 20 Daily moving average @ 102.27, above its 50 Daily moving average @ 103.59 , below its 100 Daily moving average @ 106.45 and below its 200 Daily moving average @ 106.7

The previous day high was 103.77 while the previous day low was 103.01. The daily 38.2% Fib levels comes at 103.48, expected to provide support. Similarly, the daily 61.8% fib level is at 103.3, expected to provide support.

Note the levels of interest below:

• Pivot support is noted at 103.17, 102.71, 102.41
• Pivot resistance is noted at 103.93, 104.23, 104.69

[/s2If]
Join Our Telegram Group