DXY: The DXY (US Dollar Index)
The overall momentum of the chart is bearish, indicating a downward trend. The price could potentially continue its bearish movement towards the 1st support. The 1st support at 102.94 is identified as an overlap support, and it also coincides with the 127.20% Fibonacci Extension level. This suggests that it’s a significant level where buying interest may emerge, providing support for the US Dollar Index. The 2nd support at 102.59 is another overlap support level, and it aligns with the 161.80% Fibonacci Extension. This adds further significance to this support level, indicating it as a potential area where buyers might become active. On the resistance side, The 1st resistance at 103.62 is categorized as a pullback resistance, implying that it’s a level where selling pressure may increase, acting as a potential barrier to further upward price movement. The 2nd resistance at 104.05 is noted as an overlap resistance, which suggests it’s another significant level where selling interest could intensify.
EUR/USD:
EUR/USD, the overall momentum of the chart is bearish, indicating a downward trend. There is a potential scenario where the price could react bearishly off the 1st resistance and decline towards the 1st support. The 1st support at 1.0923 is considered an overlap support, suggesting it’s a significant level where buying interest may emerge, potentially providing support for the currency pair. The 2nd support at 1.0879 is also an overlap support level, indicating another potential area where buyers could become active and offer support. On the resistance side, The 1st resistance at 1.0956 is categorized as a multi-swing high resistance. This level represents a significant barrier to upward price movement. The 2nd resistance at 1.0997 is noted as a level where selling pressure may intensify, as it aligns with the 127.20% Fibonacci Extension.
EUR/JPY:
The analyzed instrument is EUR/JPY, and the overall momentum of the chart is currently bearish. There is a potential for the price to make a short-term rise towards the 1st resistance before reversing off it and dropping towards the 1st support. The 1st support level is identified at 162.36, and its favorable characteristic is attributed to being a pullback support. The 2nd support level is situated at 161.54, and its favorable aspect is derived from being a swing low support. On the resistance side, the 1st resistance is positioned at 162.89, and it is considered significant due to being an overlap resistance. The 2nd resistance is located at 163.65, and its significance is derived from being a swing high resistance.
