Daily Analysis For US Doller Index 03-05-2023

Daily Analysis For US Doller Index 03-05-2023

US Doller Index Analysis
US Doller Index
Economic Events and Scenario for US Doller Index
Economic Events : -
GMTEventImpactCurrency
00:00(Australia) Ai Group Industry IndexMediumAUD
00:00(Australia) Judo Bank Services PMIHighAUD
00:00(Australia) Judo Bank Composite PMILowAUD
00:00(Australia) Ai Group Construction IndexLowAUD
00:00(Australia) Ai Group Manufacturing IndexLowAUD
01:00(China) May DayNoneCNY
01:00(Japan) Constitution Memorial DayNoneJPY
02:30(Australia) Retail Sales MoMHighAUD
02:30(Australia) RBA Chart PackLowAUD
07:45(France) Budget BalanceLowEUR
09:00(Italy) Unemployment RateHighEUR
10:00(Cyprus) Unemployment RateLowEUR
10:00(Euro Area) Unemployment RateHighEUR
10:00(France) New Car Registrations YoYLowEUR
10:00(United Kingdom) 2-Year Treasury Gilt AuctionLowGBP
10:30(Germany) 7-Year Bund AuctionLowEUR
11:00(Belgium) New Car Registrations YoYLowEUR
11:00(Portugal) Industrial Production YoYLowEUR
11:00(Portugal) Industrial Production MoMLowEUR
11:10(European Union) 6-Month Bill AuctionLowEUR
11:10(European Union) 3-Month Bill AuctionLowEUR
11:30(Portugal) Budget BalanceLowEUR
12:00(United States) MBA 30-Year Mortgage RateMediumUSD
12:00(United States) MBA Mortgage ApplicationsLowUSD
12:00(United States) MBA Mortgage Refinance IndexLowUSD
12:00(United States) MBA Mortgage Market IndexLowUSD
12:00(United States) MBA Purchase IndexLowUSD
12:30(Germany) New Car Registrations YoYLowEUR
13:15(United States) ADP Employment ChangeHighUSD
14:30(United States) Treasury Refunding AnnouncementLowUSD
14:45(United States) S&P Global Composite PMIMediumUSD
14:45(United States) S&P Global Services PMIHighUSD
15:00(United States) ISM Non-Manufacturing PricesLowUSD
15:00(United States) ISM Non-Manufacturing New OrdersLowUSD
15:00(United States) ISM Non-Manufacturing EmploymentMediumUSD
15:00(United States) ISM Non-Manufacturing PMIHighUSD
15:00(United States) ISM Non-Manufacturing Business ActivityLowUSD
15:00(United States) Total Vehicle SalesLowUSD
15:30(United States) EIA Refinery Crude Runs ChangeLowUSD
15:30(United States) EIA Crude Oil Stocks ChangeMediumUSD
15:30(United States) EIA Distillate Stocks ChangeLowUSD
15:30(United States) EIA Heating Oil Stocks ChangeLowUSD
15:30(United States) EIA Gasoline Production ChangeLowUSD
15:30(United States) EIA Crude Oil Imports ChangeLowUSD
15:30(United States) EIA Gasoline Stocks ChangeMediumUSD
15:30(United States) EIA Cushing Crude Oil Stocks ChangeLowUSD
15:30(United States) EIA Distillate Fuel Production ChangeLowUSD
16:30(United States) 17-Week Bill AuctionLowUSD
19:00(United States) Fed Interest Rate DecisionHighUSD
19:30(United States) Fed Press ConferenceHighUSD
23:45(New Zealand) Building Permits MoMLowNZD
Today's Scenario: - During the early hours of Wednesday's Asian session, the US Dollar Index (DXY) fell from a three-week high, with an intraday low near 101.85. This decline can be attributed to mixed US data and a cautious sentiment in anticipation of the Federal Open Market Committee's (FOMC) monetary policy meeting announcements later today. As a result, the greenback's gauge versus the six major currencies is under pressure.
Yesterday, US Factory Orders for March exceeded expectations, rising to 0.9% compared to an anticipated 0.8%. However, the US JOLTS Job Openings for the same month dropped to 9.59M from a previous reading of 9.974M (revised), falling short of the market forecast of 9.775M.
Buy Scenario: - Last Friday, the main trend changed to an upward trajectory as buyers surpassed the previous main top at $101.940. The next targets for buyers are the Fibonacci level at $102.310, followed by a main top at $102.480. If buyers surpass the main top, it will confirm the uptrend with a 50% level at $102.918 being the next target. Till we do not advise to buy US Dollar Index.
Sell Scenario: - The nearest support level for the current uptrend is a minor pivot at 101.390, followed by a short-term support zone at $101.230 - $101.039. This support zone is the final support area before reaching the main bottom at 101.039. If the price falls below this level, the main trend will shift to a downward trajectory. Till we do not advise to sell in US Dollar Index
Support and Resistance Level: -
SupportResistance
S1 101.76-R1 102.28
S2 101.56-R2 102.60
S3 101.23-R3 102.80

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