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Daily Technical Report 17-6-2024

Technical Analysis
By Shady Fouad
ENGLISH
0 28

DOLLAR INDEX

DXY

The US Dollar Index is moving in a wide sideways range between the support area at 104 and the resistance area at 105.55. If it breaks above 105.55, the target may be 106.35. It is likely that the sideways movement will continue in today’s trading.

Support

 104.50 104 103.60
Resistance 105.35 105.55

–

BTCUSD

BTCUSD

Bitcoin broke below the sideways range and rebounded from the initial support area. Prices are now trading below the resistance level of $66,800, and it is likely that the prices will resume the downward movement. This scenario will be invalidated if the mentioned resistance area is broken upwards again.

Support

 66000 65000 64300
Resistance 67400 68500

70200

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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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