Daily Technical Report 3-6-2024

Technical Analysis

By Shady Fouad On Jun 3, 2024

DOLLAR INDEX

The Dollar Index is trading above the ascending trendline, and if it remains above these levels, it opens the possibility of targeting the resistance area at 105.55. This scenario is negated if the support area at 104 is broken downwards.

Support	104.5	104	–
Resistance	105	105.55	106.3

BTCUSD

Bitcoin is trading above the important support area of $66,800. If this support is broken downwards, it could target $64,600. However, it is likely that the prices will rise and target the resistance area of $71,400.

Support	66800	64600	61000
Resistance	68700	71400	74000

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Shady Fouad

Shady Fouad is a technical analyst at LDN Company
Shady's strategic vision in the currency markets is reinforced by more than fifteen years of trading experience, which enables him to blend economic and technical analyzes with high efficiency, and find the best investment ideas for traders.

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