Welcome to Extreme Investor Network, where we provide unique insights and analysis on the latest trends in the stock market, trading, and Wall Street. Today, we’re diving into the technical forecasts for the Dollar Index, EUR/USD, and GBP/USD.
The Dollar Index (DXY) is currently trading at $103.180, showing a slight decline of 0.03% on the day. The 4-hour chart indicates a bearish outlook as the index is below the pivot point at $103.298. Key resistance levels to watch for are at $103.568, $103.960, and $104.450, while support levels can be found at $103.034, $102.708, and $102.163. Keep an eye on the 50-day EMA at $103.448 and the 200-day EMA at $104.228 for critical levels to monitor. A break above $103.298 could signal a shift in momentum to the upside, while staying below this level may sustain the bearish trend.
Moving on to the EUR/USD pair, which is currently trading at $1.09223, up 0.04% for the day. The 4-hour chart suggests potential bullish momentum as the pair remains above the pivot point at $1.09211. Resistance levels to watch for are at $1.09550, $1.10094, and $1.10547, with support levels at $1.08925, $1.08647, and $1.08267. The 50-day EMA at $1.08960 supports the bullish bias, while the 200-day EMA at $1.08514 provides additional support. Be cautious of a break below $1.08925, as it could lead to a reversal in the current bullish trend.
Lastly, let’s take a look at the GBP/USD pair. Stay tuned for our in-depth analysis on this currency pair and how it could impact your investment decisions.
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