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Daily Technical Report 13-6-2024

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DOLLAR INDEX

DXY

The US Dollar Index (DXY) is moving in a wide sideways range between the support zone at 104 and the resistance zone at 105.55. It is likely that prices will retest the aforementioned resistance zone, and if it breaks above it, we may target 106.35.

Support

104.50 104 103.60
Resistance 105.35 105.55

EURUSD

EURUSD

The EUR/USD pair rebounded from the 1.0740 area in yesterday’s trading, with prices now trading around the support zone at 1.0800. If prices hold above this level, we may target 1.0880. It is likely that prices will move in a sideways range between 1.0850 and 1.0770 in the upcoming trading sessions.

Support

1.0770 1.0740 1.0720
Resistance 1.0850 1.0880

1.0900

GBPUSD

GBPUSD

The GBP/USD pair rebounded, reaching significant resistance areas within the 1.2855-1.2800 range. It is likely that prices will decline again and retest the support zone at 1.2685.

Support

1.2740 1.2700 1.2685
Resistance 1.2800 1.2825

1.2855

USDJPY 

USDJPY

Prices are facing a resistance zone in the 157.20 range. If this zone is broken to the upside, prices may target the 158.00 area. This scenario becomes invalid if the secondary support zone at 155.70 is broken to the downside.

Support

155.70 155.45 154.50
Resistance 157.45 158

GOLD

GOLD

Gold is trading within a narrow range between the resistance level of $2325 and the important support level of $2275. If the support level is broken downwards, we may witness an acceleration in the price decline.

Support

2300 2285 2265
Resistance 2325 2335

USOIL

USOIL

Oil has broken above the $76 level, and it is likely that prices will move within a sideways range between the resistance zone at $78.50 and the support zone at $76 in the upcoming trading sessions.

Support

76.70 76 75
Resistance 78.50 79.20

BTCUSD

BTCUSD

Bitcoin is trading in a sideways range between the resistance zone at $71,950 and the support zone at $66,800. If the support zone is broken to the downside, we may target the $64,600 area. Conversely, if prices rebound to the upside, we might face selling pressure in the $69,500-$70,000 range.

Support

67300 66500 65000
Resistance 69200 70000

71500

DOW JONES

DOW JONES

The Dow Jones Index is trading below the resistance zone at $39,150. It is likely that prices will continue to move sideways and test the support zone at $38,150. This scenario will be invalidated if the aforementioned resistance zone is broken to the upside.

Support

38600 38450 38100
Resistance 39150 39450

NASDAQ

NASDAQ

The Nasdaq index has broken above its main peak, confirming the dominance of buying pressure and opening the way for targeting new highs. However, if prices fail to hold above the $19,275 area, we may retest the support zone at $19,100.

Support

19275 19100 18875
Resistance 19650 19770

19850

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