DXY leaves behind two consecutive sessions with losses. (Pivot Orderbook analysis)
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- DXY leaves behind two consecutive sessions with losses.
- Extra losses look likely on a breakdown of the 104.00 zone.
The pair currently trades last at 104.64.
The previous day high was 104.69 while the previous day low was 104.16. The daily 38.2% Fib levels comes at 104.37, expected to provide support. Similarly, the daily 61.8% fib level is at 104.49, expected to provide support.
DXY regains some composure and prints decent gains near 104.70 on Tuesday.
So far, the continuation of the range bound theme seems the most likely scenario in the very near term for the index. In the meantime, the dollar needs to clear the February peak at 105.35 (February 27) to allow for extra recovery and a potential challenge of the 2023 top at 105.63 (January 6).
On the downside, the loss of the 104.00 region should likely spark a deeper pullback to, initially, the 55-day SMA, today at 103.45.
In the longer run, while below the 200-day SMA at 106.56, the outlook for the index remains negative.
Technical Levels: Supports and Resistances
EURUSD currently trading at 104.64 at the time of writing. Pair opened at 104.27 and is trading with a change of 0.35 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 104.64 |
| 1 | Today Daily Change | 53.00 |
| 2 | Today Daily Change % | 0.35 |
| 3 | Today daily open | 104.27 |
The pair is trading above its 20 Daily moving average @ 104.11, above its 50 Daily moving average @ 103.37 , below its 100 Daily moving average @ 104.86 and below its 200 Daily moving average @ 106.83
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 104.11 |
| 1 | Daily SMA50 | 103.37 |
| 2 | Daily SMA100 | 104.86 |
| 3 | Daily SMA200 | 106.83 |
The previous day high was 104.69 while the previous day low was 104.16. The daily 38.2% Fib levels comes at 104.37, expected to provide support. Similarly, the daily 61.8% fib level is at 104.49, expected to provide support.
Note the levels of interest below:
- Pivot support is noted at 104.06, 103.85, 103.53
- Pivot resistance is noted at 104.59, 104.91, 105.12
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 104.69 |
| Previous Daily Low | 104.16 |
| Previous Weekly High | 105.36 |
| Previous Weekly Low | 104.09 |
| Previous Monthly High | 105.36 |
| Previous Monthly Low | 100.81 |
| Daily Fibonacci 38.2% | 104.37 |
| Daily Fibonacci 61.8% | 104.49 |
| Daily Pivot Point S1 | 104.06 |
| Daily Pivot Point S2 | 103.85 |
| Daily Pivot Point S3 | 103.53 |
| Daily Pivot Point R1 | 104.59 |
| Daily Pivot Point R2 | 104.91 |
| Daily Pivot Point R3 | 105.12 |
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