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DXY: For DXY, in alignment with the overall bullish momentum of the chart, there’s a potential scenario indicating a bullish bounce off the pivot level, possibly leading towards the 1st resistance. The pivot at 103.04 serves as a significant pullback support, reinforced by the 61.80% Fibonacci Retracement, suggesting a level where buying interest may emerge, […]

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03/03/2024

Time to Take a Closer Look at Altcoins?

Market picture The cryptocurrency market has corrected by 2%, dropping below $2.3 trillion in market capitalisation. Now, this looks like a technical correction, with the biggest coins pulling back from Thursday night’s highs and holding their positions at the start of Friday’s trading. Bitcoin and Ether are drawing their seventh consecutive daily growth candle, albeit […]
19/12/2023

Technical Outlook and Review

DXY: The DXY (US Dollar Index) chart currently shows an overall bearish momentum, indicating a potential for price to make a bearish reaction off the 1st resistance and fall towards the 1st support. The 1st resistance level at 102.61 is identified as an overlap resistance that aligns close to the 38.20% Fibonacci retracement level. Higher […]
24/04/2024

Dollar Pullback from Overbought Territory Boosts Appeal

The US dollar’s gains stalled last week, and on Tuesday, it lost a third of a cent against a basket of major currencies to 105.4 from a peak of 106.3 the week before. Yesterday’s pullback more closely resembles the start of broader profit-taking than a reversal of the dollar’s upward trend since early March. The […]