The Dollar Index is currently trading at $105.098, down by 0.02%. The pivot point at $105.180 serves as a critical level. Immediate resistance is at $105.331, followed by $105.481 and $105.624.
On the downside, immediate support is found at $104.962, with further support levels at $104.803 and $104.662. Technical indicators show the 50-day Exponential Moving Average (EMA) at $105.133 and the 200-day EMA at $105.328, both acting as significant levels.
The outlook is bearish below $105.180, but a break above this level could shift the bias to bullish.
EUR/USD Technical Forecast
The EUR/USD is currently trading at $1.08195, reflecting a modest increase of 0.05%. The pivot point at $1.08101 is crucial, serving as a key support level. Immediate resistance is observed at $1.08308, followed by $1.08463 and $1.08615.
On the downside, immediate support is located at $1.07984, with further support levels at $1.07893 and $1.07794. Technical indicators show the 50-day Exponential Moving Average (EMA) at $1.08105 and the 200-day EMA at $1.07734, both acting as significant support levels.
The outlook remains bullish above $1.08101, but a break below this level could trigger a sharp selling trend.
TEST 30 He has written extensively for a broader audience and his current focus is on developments relating to the financial markets including, but not limited to currencies, commodities, alternative asset classes, and global equities.