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Let’s start with the Dollar Index (DXY), currently trading at $102.911, down 0.06% on the day. The index has retraced to the 38.2% Fibonacci level at $103.039, signaling a potential downside correction. Keep an eye on key support levels at $102.708, $102.452, and $102.166. A break below $103.039 could lead to a deeper decline, while a break above might shift the momentum back to bullish territory.
Moving on to the EUR/USD pair, trading at $1.09854, up 0.04% on the day, with a bullish trend on the 4-hour chart. Supported by an upward trendline and key EMAs, the pair faces resistance at $1.10060, $1.10481, and $1.10830. A break below the pivot point at $1.09684 could indicate a shift towards a bearish trend.
Stay tuned for our updates on GBP/USD technical forecast for more insights into trading opportunities. Trust Extreme Investor Network to provide you with the latest market analysis and trends to help you make informed decisions in your trading journey. Subscribe now for exclusive content that will elevate your trading experience.