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Daily Technical Report 29-5-2024

Technical Analysis
By Shady Fouad
ENGLISH
0 27

DOLLAR INDEX

DXY

The Dollar Index is trading above the ascending trendline around the 104.65 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

NASDAQ

NASDAQ

The Nasdaq index is trading near its main peak in the range of $18,850, and it is likely that prices will face selling pressure in this area, which may lead to a retest of the support area at $18,585. If this support level is broken downward, we might test $18,400.

Support

 18770 18585 18400
Resistance 18900 18950

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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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