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Daily Technical Report 30-5-2024

Technical Analysis
By Shady Fouad
en
0 40

DOLLAR INDEX

DXY

The US Dollar Index is trading above the ascending trendline around the 105 region. If it remains stable above these levels, it could target the resistance area at 105.55. However, this scenario will be invalidated if the support area at 104 is broken to the downside.

Support

 105 104.5 104
Resistance 105.55 106.3

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GOLD

GOLD

Gold has declined in previous trading sessions, reaching near the support area at $2,325. It is likely that this support area will be broken to the downside, targeting $2,275 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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