US Dollar Index Price Analysis: A drop to 92.50 gathers pace

DXY remains under pressure around the 92.70 area.
The loss of further momentum could drag DXY to 92.50.

Pablo Piovano FXStreet

Sellers remain hovering around DXY, which trades within a narrow range in the 92.60/70 band following the Friday’s post-Powell moderate selloff.

If the selling bias gathers extra steam, then the index is seen re-visiting the mid-92.50s, where emerges some initial contention. This area of support is reinforced by the 55-day SMA at 92.46.

In the meantime, and looking at the broader scenario, the positive stance on the dollar is expected to remain unchanged as long as the index trades above the 200-day SMA, today at 91.32.

DXY daily chart

Dollar Index Spot

Overview
Today last price	92.68
Today Daily Change	14
Today Daily Change %	-0.00
Today daily open	92.68

Trends
Daily SMA20	92.82
Daily SMA50	92.54
Daily SMA100	91.6
Daily SMA200	91.32

Levels
Previous Daily High	93.18
Previous Daily Low	92.63
Previous Weekly High	93.49
Previous Weekly Low	92.63
Previous Monthly High	93.19
Previous Monthly Low	91.78
Daily Fibonacci 38.2%	92.84
Daily Fibonacci 61.8%	92.97
Daily Pivot Point S1	92.48
Daily Pivot Point S2	92.28
Daily Pivot Point S3	91.93
Daily Pivot Point R1	93.03
Daily Pivot Point R2	93.38
Daily Pivot Point R3	93.59

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

GBP/USD targets 1.3500 amid solid gains

The persistent weakness hurting the Greenback lends support to the British Pound and the rest of the risk-linked assets, sending GBP/USD to new two-day tops past 1.3480 on Wednesday. Indeed, Cable advances for the second day in a row helped by the constant optimism around a potential US-Iran deal.

EUR/USD clings to gains near 1.1550

EUR/USD builds on Tuesday’s advance and confronts the area of multi-week highs in the 1.1550-1.1560 band on Wednesday. The continuation of the pair’s recovery comes once again on the back of the renewed selling pressure on the US Dollar, always in response to diminishing geopolitical tensions.

How Wall Street rigs the game [Video]

In this week’s Live from the Vault, Andrew Maguire is joined by Peter Antico and Sean Stone to discuss the Paradigm of Money - an in-depth expose of financial market corruption, from naked shorting to the two-tier system that protects Wall Street.

Crypto Today: Bitcoin, Ethereum advance while XRP lags amid US-Iran deal optimism

Bitcoin (BTC) hovers near $64,000 at the time of writing on Wednesday, buoyed by a marginal improvement in crypto sentiment amid growing optimism that the United States (US) and Iran could potentially reach an agreement to open the Strait of Hormuz this week. Ethereum (ETH) mirrors Bitcoin’s neutral-to-bullish outlook, trading toward $1,900.

Taking out the lines in the sand

Good Day... And a Wonderful Wednesday to you! Well, just as I suspected, my beloved Cardinals' bats went silent last night in the Bronx, and they lost 0-2... The Yankees' bats were exactly a murderer's row, but they hit 2 homers and won. I said yesterday that the song : Just Once In My Life, could be the Cardinals' song after hitting 5 home runs the previous night!

9-3: Is the Federal Reserve’s vote tally Warsh's new forward guidance?

The rate did not move. Neither did the statement, and that’s the more interesting fact. Set the July 29 Federal Open Market Committee (FOMC) statement beside the one issued on June 17, and the two documents are identical apart from a single verb and a paragraph at the bottom naming three dissenters.