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Although the dollar index formed a lower peak at 103.87 levels, then it fell and closed below 103.38 levels, but it failed to stabilize below it and rose again, and therefore we expect more declines again until 103.38 levels, then 102.95 levels.
Despite the rise of gold to the highest level of 1964.74, it failed to stabilize above and fell strongly and penetrated the levels of 1950.95, and therefore we expect a further decline until the levels of 1935.44 and then the levels of 1924.03.
Brent crude was able to build on the moving average 200 in the hourly timeframe, and it rose to 77.36 levels, but it fell once it was reached, and therefore we expect more declines to 75.09 levels, and if it manages to breach 74.68 levels, the next drop target will be 73.35 levels.
The pair is still trading sideways between 1.06667 and 1.07472 levels, so our expectation is either a drop and a breach of 1.06667 levels, and the target for the drop is 1.06265 levels, and the other scenario is an ascension and breaking 1.07472 levels, and the target for the rise is 1.07950 levels.
The pair was able to rise and close above 1.24574 levels, but it failed to stabilize above and fell again, and therefore the condition for completing the ascent is to break and close above 1.24678 levels, and the target for the rise is 1.25458 levels.
The pair was able to fall and break 1.33869 levels, and it fell to 1.33440 levels, but it rose to retest the broken levels again, and therefore we expect more declines until 1.33440 levels, then 1.33019 levels.
Despite the weakness of the Dow index’s acceleration, it managed to form a somewhat higher bottom at 33504 levels, but our technical outlook remains the same, as the condition for the rise is breaking 33814 levels, otherwise, the trend will be sideways.