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Daily Technical Report 28-5-2024

Technical Analysis
By Shady Fouad
ENGLISH
0 27

DOLLAR INDEX

DXY

The Dollar Index is trading above the ascending trendline around the 104.35 level. If it remains stable above this price, it could open the way to targeting the resistance area at 105.55. However, this scenario would be invalidated if the support area at 104 is broken downwards.

Support

 104.00 103.60 –
Resistance 105.05 105.55

106.3

GOLD

GOLD

Gold rose in yesterday’s trading, reaching a resistance area around the $2360-$2370 range. Prices are expected to decline in today’s trading, targeting the $2325 area. If this level is broken downwards, the next target could be $2275 in the upcoming trades.

Support

 2325 2305 2275
Resistance 2360 2370

2400

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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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