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Daily Technical Report 12-6-2024

Technical Analysis
By Shady Fouad
ENGLISH
0 9

DOLLAR INDEX

DXY

The US Dollar Index is moving within a wide sideways range between the support zone at 104 and the resistance zone at 105.55. If the resistance zone at 105.55 is broken to the upside, the target may be 106.35.

Support

 104.50 104 103.60
Resistance 105.35 105.55

–

NASDAQ

NASDAQ

The Nasdaq index has broken through its main peak upwards, confirming the dominance of buying power and opening the way for targeting new highs. However, it is noticeable that momentum indicators have lost strength in previous trading sessions. Therefore, if prices are unable to stay above the 19100$ level, it is likely that we will retest the support area at 18875$.

Support

 19100 18875 18705
Resistance 19280 19350

19450

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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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