1. U.S. Dollar Index (DXY)
The U.S. Dollar Index has extended its sharp decline, breaking through multiple support levels. The price is now hovering around 104.20, close to a key support at 103.88. The recent breakdown below 105.50, a previously tested support-turned-resistance, suggests further downside momentum. If 103.88 fails to hold, the next critical support is at 103.07. The rapid decline is likely fueled by macroeconomic weakness and expectations of a dovish Fed. Any short-term relief could see a test of 105.00, but overall, the trend remains bearish.
KEY LEVELS:
- Support: 103.88, 103.07
- Resistance: 105.50, 106.00
2. Silver (XAG/USD)
Silver has continued its bullish trend, rallying to $32.36 after bouncing from a key support zone at $31.60. The breakout above $32.00 confirms bullish momentum, with the next major resistance at $33.22. Price action suggests strong buying interest, especially as DXY weakens. A retest of $32.00 as support would further strengthen the bullish case. If momentum continues, silver could challenge its yearly highs soon.
KEY LEVELS:
- Support: $32.00, $31.60
- Resistance: $33.22, $34.00
3. Ethereum (ETH/USDT)
Ethereum has rebounded strongly from $2,072, confirming it as a local bottom. The price has reclaimed $2,240 and is now attempting to break above $2,300. If successful, the next target would be the $2,400-$2,450 supply zone. The recent recovery aligns with improving sentiment in risk assets, supported by a weaker USD. However, a failure to hold above $2,240 could lead to another retest of $2,122.
KEY LEVELS:
- Support: $2,240, $2,122
- Resistance: $2,400, $2,450
4. Soybean Futures (ZS)
Soybean futures remain range-bound between $960 and $1,080, with recent price action showing a bounce from the lower bound. The price is now testing $1,020, a mid-range level that has acted as both support and resistance in the past. A breakout above $1,050 could confirm bullish momentum, while a rejection would signal another move towards $960. Volume is picking up, suggesting increased trader interest at these levels.
KEY LEVELS:
- Support: $960, $1,000
- Resistance: $1,050, $1,080