Daily Forex Technicals | Written by FXtechtrade
DOW JONES INDEX
Today's support: - 10395.00 and 10358.25(main), where a delay and correction may happen. Break of the latter will give 10333.12, where correction also can be. Then follows 10295.75. Be there a strong impulse, we would see 10271.18. Continuation will bring 10248.70.Today's resistance: - 10486.40 and 10528.42(main), where a delay and correction may happen. Break would bring 10544.28, where a correction may happen. Then follows 10572.40, where a delay and correction could also be. Be there a strong impulse, we'd see 10598.70. Continuation would bring 10618.80.
Daily Forex Technicals | Written by India Forex
Gold : Gold's rally resumed by taking out $1153.4 and reaches another record high of $1176 currently . Short term target of 161.8% projection of $985.5 to $1072 from $1026.9 at $1166.9 is met but there is not sign of topping yet. Short term outlook will remain bullish as long as $1132.5 support holds. Sustained trading above $1166.9 will target $1200 psychological resistance next. On the downside, below $1132.5 will indicate that a short term top is formed, possibly with bearish divergence in short term charts.Some pull back should be seen but downside should be contained above $1072 resistance turned support and bring rally resumption. (Gold - $1176.50) Bullish but Overbought
Dollar Index: The dollar index move is similar to that in EUR/USD due to Euro's heavy weight in it. Intraday bias is neutral for the moment. But still, corrective structure of the rise from 74.68 to 75.88 favors the case that more downside is to be seen and a break of 74.68 will target 74.31 key support next. But after all, strong support is expected from 74.31 to finally conclude the medium term decline from 89.63 to bring strong rebound. On the upside, a break above 75.88 will flip intraday bias back to the upside for a test on 76.82 resistance first.(DI - 74.93) Neutral
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