Today’s Dollar Index analysis for May 2, 2024, indicates a minor increase to 105.620, up by 0.09%. It’s trading above its pivot point at 105.527, suggesting a possible bullish trend.
Resistance levels are at 105.927, 106.188, and 106.540, while support is at 105.214, with further levels at 104.896 and 104.448.
The 50-day EMA at 105.874 and the 200-day EMA at 105.188 suggest a potential bullish bias if the index remains above 105.527, though a fall below this level could signal a trend reversal.
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.