The Dollar Index (DXY) is trading at $105.132, down 0.01%. The pivot point at $105.185 is crucial for determining market direction. Immediate resistance levels are at $105.458, $105.649, and $105.892. On the downside, support levels are at $104.892, $104.710, and $104.446.
The 50-day Exponential Moving Average (EMA) is at $104.788, while the 200-day EMA is at $104.961. These technical indicators suggest a bearish outlook below the pivot point.
The outlook remains bearish below $105.185, but a break above this level could shift the bias towards a bullish trend.
Arslan, a webinar speaker and derivatives analyst, has an MBA in Finance and MPhil in Behavioral Finance. He guides financial analysis, trading, and cryptocurrency forecasting. Expert in trading psychology and sentiment.