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Daily Technical Report 10-6-2024

Technical Analysis
By Shady Fouad
ENGLISH
0 29

DOLLAR INDEX

DXY

US Dollar Index has rebounded from the support level at 104, suggesting that we might test the 105.55 level again. This scenario becomes invalid if the previously mentioned support level is broken to the downside.

Support

 104 103.6 103
Resistance 105.35 105.55

–

EURUSD

EURUSD

The EUR/USD pair has dropped from the resistance area around 1.0880 and is now testing the main support area at 1.0740. It is likely that this support area will limit the downward momentum in today’s trading.

Support

 1.0740 1.0720 1.0675
Resistance 1.0770 1.0800

1.0880

DOW JONES

DOW JONES

The Dow Jones Index has dropped from near the resistance area at 39,000, and it is likely that prices will continue to move sideways and test the support area at 38,150. This scenario becomes invalid if the previously mentioned resistance area is broken to the upside.

Support

 38600 38450 38200
Resistance 39050 39200

39450

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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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