The Dollar Index saw a slight uptick to 105.418. However, it displays a bearish pattern below the double top at 105.466. A decisive move above this level could invalidate the bearish outlook and signal the potential for further gains, with the next resistance levels at 105.655 and 105.907.
Conversely, a sustained move below 105.466 could confirm the bearish bias, with immediate support at 105.184 and subsequent support levels at 104.890 and 104.616. The 50-day EMA is currently at 105.001, while the 200-day EMA sits at 104.810.
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.