Daily Analysis For US Doller Index 07-04-2023

Daily Analysis For US Doller Index 07-04-2023

US Doller Index Analysis
US Doller Index
Economic Events and Scenario for US Doller Index
Economic Events : -
GMTEventImpactCurrency
00:30(Japan) Overtime Pay YoYLowJPY
00:30(Japan) Household Spending YoYLowJPY
00:30(Japan) Household Spending MoMLowJPY
00:30(Japan) Average Cash Earnings YoYLowJPY
00:50(Japan) Foreign Exchange ReservesLowJPY
01:00(Australia) Good FridayNoneAUD
01:00(Belgium) Good FridayNoneEUR
01:00(Canada) Good FridayNoneCAD
01:00(Ecuador) Good FridayNoneUSD
01:00(El Salvador) Good FridayNoneUSD
01:00(Estonia) Good FridayNoneEUR
01:00(Euro Area) Good FridayNoneEUR
01:00(Finland) Good FridayNoneEUR
01:00(Germany) Good FridayNoneEUR
01:00(Latvia) Good FridayNoneEUR
01:00(Luxembourg) Good FridayNoneEUR
01:00(Malta) Good FridayNoneEUR
01:00(Netherlands) Good FridayNoneEUR
01:00(New Zealand) Good FridayNoneNZD
01:00(Portugal) Good FridayNoneEUR
01:00(Spain) Good FridayNoneEUR
01:00(Switzerland) Good FridayNoneCHF
01:00(United Kingdom) Good FridayNoneGBP
01:00(United States) Good FridayNoneUSD
04:35(Japan) 3-Month Bill AuctionLowJPY
05:30(Netherlands) Household Consumption YoYLowEUR
05:30(Netherlands) Manufacturing Production MoMLowEUR
06:00(Japan) Leading Economic IndexLowJPY
06:00(Japan) Coincident IndexLowJPY
07:00(Lithuania) Balance of TradeLowEUR
07:45(France) ImportsLowEUR
07:45(France) ExportsLowEUR
07:45(France) Current AccountLowEUR
07:45(France) Balance of TradeMediumEUR
08:00(Austria) Industrial Production YoYLowEUR
08:30(France) Foreign Exchange ReservesLowEUR
09:00(China) Foreign Exchange ReservesLowCNY
10:00(Greece) Balance of TradeLowEUR
13:30(United States) Manufacturing PayrollsLowUSD
13:30(United States) Nonfarm Payrolls PrivateHighUSD
13:30(United States) Unemployment RateHighUSD
13:30(United States) Non Farm PayrollsHighUSD
13:30(United States) Participation RateMediumUSD
13:30(United States) Government PayrollsLowUSD
13:30(United States) Average Weekly HoursLowUSD
13:30(United States) Average Hourly Earnings MoMMediumUSD
13:30(United States) Average Hourly Earnings YoYMediumUSD
14:00(United States) Used Car Prices MoMLowUSD
14:00(United States) Used Car Prices YoYLowUSD
20:00(United States) Consumer Credit ChangeLowUSD
Today's Scenario: - The US Dollar Index is trading around the 102.00 level as major global markets are closed for the Good Friday holiday. The lack of market activity, combined with caution ahead of the highly anticipated US employment data for March, is limiting any significant movements in the US Dollar Index against the six major currencies.
Buy Scenario: - The US Dollar Index is facing resistance and has been unable to break through it for a month. This lack of momentum is further confirmed by the Doji candlestick on Thursday, which signals uncertainty among traders. As a result, those who are bearish on the US Dollar Index are optimistic about a potential decline in its value. Till we do not advise to buy US Dollar Index.
Sell Scenario: - As of the latest update, the US Dollar Index continues to struggle to break through the one-month-old resistance line at 102.40. The recent Doji candlestick on Thursday only reinforces this struggle, indicating indecision and a possible reversal in trend. This sustained trading below the resistance line gives hope to the bears, who are anticipating a potential drop in the value of the US Dollar Index. Till we do not advise to sell in US Dollar Index
Support and Resistance Level: -
SupportResistance
S1 101.73-R1 102.12
S2 101.55-R2 102.32
S3 101.35-R3 102.50

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