DXY keeps the rally well in place and flirts with 114.80. (Pivot Orderbook analysis)
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- DXY keeps the rally well in place and flirts with 114.80.
- Extra gains should meet the next hurdle at the 115.00 level.
The pair currently trades last at 114.39.
The previous day high was 114.47 while the previous day low was 113.31. The daily 38.2% Fib levels comes at 114.03, expected to provide support. Similarly, the daily 61.8% fib level is at 113.76, expected to provide support.
DXY keeps pushing higher and clinches new 2-decade peaks in the 114.75/80 band on Wednesday.
The index seems to ignore the current extreme overbought levels and could extend the march north to, initially, the round level at 115.00 prior to the May 2002 top at 115.32.
The prospects for extra gains in the dollar should remain unchanged as long as the index trades above the 7-month support line just above 107.00.
In the longer run, DXY is expected to maintain its constructive stance while above the 200-day SMA at 102.30.
Technical Levels: Supports and Resistances
EURUSD currently trading at 114.39 at the time of writing. Pair opened at 114.16 and is trading with a change of 0.2 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 114.39 |
| 1 | Today Daily Change | 69.00 |
| 2 | Today Daily Change % | 0.20 |
| 3 | Today daily open | 114.16 |
The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 110.54, 50 SMA 108.46, 100 SMA @ 106.48 and 200 SMA @ 102.31.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 110.54 |
| 1 | Daily SMA50 | 108.46 |
| 2 | Daily SMA100 | 106.48 |
| 3 | Daily SMA200 | 102.31 |
The previous day high was 114.47 while the previous day low was 113.31. The daily 38.2% Fib levels comes at 114.03, expected to provide support. Similarly, the daily 61.8% fib level is at 113.76, expected to provide support.
Note the levels of interest below:
- Pivot support is noted at 113.49, 112.82, 112.33
- Pivot resistance is noted at 114.65, 115.14, 115.8
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 114.47 |
| Previous Daily Low | 113.31 |
| Previous Weekly High | 113.24 |
| Previous Weekly Low | 109.36 |
| Previous Monthly High | 109.48 |
| Previous Monthly Low | 104.64 |
| Daily Fibonacci 38.2% | 114.03 |
| Daily Fibonacci 61.8% | 113.76 |
| Daily Pivot Point S1 | 113.49 |
| Daily Pivot Point S2 | 112.82 |
| Daily Pivot Point S3 | 112.33 |
| Daily Pivot Point R1 | 114.65 |
| Daily Pivot Point R2 | 115.14 |
| Daily Pivot Point R3 | 115.80 |
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