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Daily Technical Report 6-5-2024

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DOLLAR INDEX

DOLLAR INDEX

The dollar index broke below the minor support level at 105.30, testing the support zone at 104.75. It is likely to break downwards and test the level at 104.

Support

104.75 104.50 104.00
Resistance 105.30 106.30

107.15

EURUSD

EURUSD

The prices broke above the resistance levels in the range of 1.0740, with a likely target at 1.0860. This scenario would be invalidated if the level at 1.0740 is broken downwards again.

Support

1.0730 1.0700 1.0650
Resistance 1.0800 1.0850

1.0875

GBPUSD

GBPUSD

Sterling-dollar pair is trading above the support level in the range of 1.2530, with a likely target at 1.2680. This scenario would be invalidated if the level at 1.2530 is broken downwards again.

Support

1.2540 1.2520 1.2470
Resistance 1.2600 1.2630

1.2680

USDJPY

USDJPY

Prices bounced back from the area around $151.75, and it’s likely that they will move in a sideways range between the secondary resistance area of $154.15 and the support area of $152.85.

Support

152.75 152.25 151.65
Resistance 154.15 154.8

155.5

GOLD

GOLD

Prices are moving sideways in the short term,  trading expected to be confined between $2315 and $2290 today.

Support

2275 2265 2230
Resistance 2320 2330

2355

USOIL

USOIL

Oil is tested the support areas at $77.5, and if it breaks downwards, we may target $76. However, it’s likely that this zone will limit the pace of decline.

Support

77.8 77.5 76.5
Resistance 79.4 80

80.5

BTCUSD

BTCUSD

Bitcoin is trading below the resistance area of $64,600. If it breaks above it, we may target $67,300, but it’s likely that we’ll retest the area around $61,000.

support

61500 60000 59000
Resistance 64800 65200

67300

DOW JONES

DOW

The Dow Jones index has broken above the resistance area of $38,500. If it continues higher, we may target $39,000. However, this scenario would be invalidated if it breaks back below $38,500.

Support

38500 38000 37800
Resistance 38800 39000

39500

NASDAQ

NASDAQ

The Nasdaq index has broken above the resistance area of $17,850. If it holds above $17,900, we may target $18,150. However, if it breaks below $17,650, we might retest the area around $17,200.

Support

17650 17400 17200
Resistance 17930 18150

18400

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