TRENDING:

ECB interest rate

US CPI

Dollar Index Price Analysis: DXY eyes bullish reversal on weekly chart

DXY's weekly chart shows a falling wedge breakout.
The index could rise to September highs above 94.50.

Omkar Godbole FXStreet Contributor

The dollar index, which tracks the greenback's value against majors, looks set to confirm a falling wedge breakout – a bullish reversal pattern – on the weekly chart.

The index has flipped the channel hurdle into support, currently at 90.00. A close above would confirm the breakout and open the doors for a rally to 94.72 (September high).

The daily chart also indicates the path of least resistance is to the higher side. The bullish outlook will be invalidated if the index finds acceptance under the former hurdle-turned-support of the inverse head-and-shoulders pattern breached to the higher side earlier this week.

Weekly chart

Trend: Bullish

Technical levels

Dollar Index Spot

Overview
Today last price	91.57
Today Daily Change	0.02
Today Daily Change %	0.02
Today daily open	91.55

Trends
Daily SMA20	90.55
Daily SMA50	90.49
Daily SMA100	91.86
Daily SMA200	93.87

Levels
Previous Daily High	91.58
Previous Daily Low	91.09
Previous Weekly High	90.89
Previous Weekly Low	90.08
Previous Monthly High	90.95
Previous Monthly Low	89.21
Daily Fibonacci 38.2%	91.4
Daily Fibonacci 61.8%	91.28
Daily Pivot Point S1	91.23
Daily Pivot Point S2	90.92
Daily Pivot Point S3	90.74
Daily Pivot Point R1	91.73
Daily Pivot Point R2	91.9
Daily Pivot Point R3	92.22

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

Editor's Picks

EUR/USD remains below 1.1750 ahead of ECB policy decision

EUR/USD remains on the back foot below 1.1750 in the European session on Thursday. Traders move to the sidelines and refrain from placing any fresh directional bets on the pair ahead of the ECB policy announcements and the US CPI inflation data.

GBP/USD stays defensive below 1.3400, awaits BoE and US CPI

GBP/USD oscillates in a narrow band below 1.3400 in European trading on Thursday. The pair trades with caution as markets eagerly await the BoE policy verdict and US consumer inflation data for fresh directional impetus.

Gold holds losses below $4,350 ahead of US CPI report

Gold struggles to capitalize on the previous day's move higher and holds its pullback below $4,350 in the European session on Thursday. The downtick could be attributed to some profit-taking amid a US Dollar bounce. All eyes now remain on the US CPI inflation data.

BoE set to resume easing cycle, trimming interest rate to 3.75%

The Bank of England will announce its last monetary policy decision of 2025 on Thursday at 12:00 GMT. The market prices a 25-basis-point rate cut, which would leave the BoE’s Bank Rate at 3.75%.

US CPI data expected to show inflation rose slightly to 3.1%, cooling Fed rate cut bets for January

The US Bureau of Labor Statistics will publish the all-important Consumer Price Index (CPI) data for November on Thursday at 13:30 GMT. The CPI inflation in the US is expected to rise at an annual rate of 3.1% in November

Dogecoin Price Forecast: DOGE breaks key support amid declining investor confidence

Dogecoin (DOGE) trades in the red on Thursday, following a 4% decline on the previous day. The DOGE supply in profit declines as large wallet investors trim their portfolios. Derivatives data shows a surge in bearish positions amid declining retail interest.

Weekly chart

Technical levels

Dollar Index Spot

Legal Text

Markets move fast. We move first.

Editor's Picks

Best Brokers in 2025