Source: PaxForex Premium Analytics Portal, Technical Insight
U.S. stock indices fell on Friday after the collapse the day before on the background of declining stock prices for technology companies. The Dow Jones index dropped 159.42 points (0.56%) to 28133.31 points.
Dow Jones Index, 30 min
Pivot: 28000.00
Analysis:
Provided that the currency pair is traded below 28325.00, follow the recommendations below:
- Time frame: 30 min
- Recommendation: short position
- Entry point: 28000.00
- Take Profit 1: 25950.00
- Take Profit 2: 24800.00
Alternative scenario:
In case of breakout of the level 228325.00, follow the recommendations below:
- Time frame: 30 min
- Recommendation: long position
- Entry point: 28325.00
- Take Profit 1: 28800.00
- Take Profit 2: 29550.00
Comment:
RSI indicates a downtrend during the day.
Key levels:
| Resistance | Support |
| 29550.00 | 25950.00 |
| 28800.00 | 24800.00 |
| 28365.00 | 23700.00 |
Dow Jones Index, D1
Pivot: 27890.00
Analysis:
While the price is above 24800.00, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 27890.00
- Take Profit 1: 30825.00
- Take Profit 2: 31860.00
Alternative scenario:
If the level 24800.00 is broken-down, follow the recommendations below.
- Time frame: D1
- Recommendation: short position
- Entry point: 24800.00
- Take Profit 1: 23940.00
- Take Profit 2: 22850.00
Comment:
RSI is bullish and indicates further growth.
Key levels:
| Resistance | Support |
| 32100.00 | 24800.00 |
| 31860.00 | 23940.00 |
| 30825.00 | 22850.00 |
