Welcome to Extreme Investor Network, where we dive deep into the world of the stock market, trading, and all things Wall Street. Today, we are going to discuss the technical forecasts for the Dollar Index, EUR/USD, and GBP/USD pairs.
Starting with the Dollar Index, it is currently trading at $104.300, down 0.02%, indicating mixed market sentiment. The 4-hour chart reveals a pivot point at $104.429, with immediate resistance levels at $104.733, $104.997, and $105.210. Breaking above these levels could signal a bullish trend. On the downside, support levels are at $103.978, $103.689, and $103.460, with the 50-day EMA at $104.352. The outlook remains bearish below $104.429, so traders should keep a close eye on these key levels.
Next, the EUR/USD pair is trading at $1.07958, up 0.05%, amid market fluctuations. The pivotal resistance level on the 4-hour chart is at $1.08155. A successful break above this level could indicate bullish momentum, targeting resistance at $1.08484 and $1.08706. However, if the price fails to break through, support levels at $1.07773, $1.07466, and $1.07201 may come into play. The 50-day EMA is at $1.08303, slightly above the 200-day EMA at $1.08257, suggesting a potential bearish trend.
Lastly, let’s take a look at the GBP/USD pair. Stay tuned for more updates on the latest trends and forecasts in the stock market and trading world. At Extreme Investor Network, we make sure to provide you with valuable insights and information to help you stay ahead of the game in the fast-paced world of investing.