US Dollar Index price analysis: DXY, a recovery we can believe in?


  • DXY is boosted by stellar November’s Nonfarm Payrolls (NFP) readings.
  • DXY is set to remain under bearish pressure below the 98.00/98.20 price zone.
 

DXY daily chart

 
DXY (US Dollar Index) is trading in a weak uptrend as the market is struggling to hold near the 200-day simple moving average (DMA).
  

DXY four-hour chart

 
The stellar November’s Nonfarm Payrolls (NFP) gave a boost to DXY to the 97.85 level while staying below the main SMAs. DXY bulls don’t seem to be out of trouble just yet as the recovery would gain credibility above the 98.00/98.20 price zone.
 

DXY 30-minute chart

 
The bullish spike is retracing below the downward sloping 200 SMA. If the bears retake the 97.60 support, the index is set to trade down to the 97.20 level. 
 

Additional key levels

Dollar Index Spot

Overview
Today last price 97.67
Today Daily Change 0.28
Today Daily Change % 0.29
Today daily open 97.39
 
Trends
Daily SMA20 98.07
Daily SMA50 98.13
Daily SMA100 98.16
Daily SMA200 97.67
 
Levels
Previous Daily High 97.63
Previous Daily Low 97.36
Previous Weekly High 98.54
Previous Weekly Low 98.17
Previous Monthly High 98.54
Previous Monthly Low 97.16
Daily Fibonacci 38.2% 97.46
Daily Fibonacci 61.8% 97.53
Daily Pivot Point S1 97.29
Daily Pivot Point S2 97.19
Daily Pivot Point S3 97.02
Daily Pivot Point R1 97.56
Daily Pivot Point R2 97.73
Daily Pivot Point R3 97.83

 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD edges higher ahead of data, Fed speeches, presidential debate

EUR/USD is rising toward 1.17 as markets dismiss weak German inflation figures. Uncertainty about US fiscal stimulus and the elections is elevated ahead of the first presidential debate and US consumer confidence.

EUR/USD News

GBP/USD retreats from highs amid Brexit, coronavirus uncertainty

GBP/USD is retreating from the highs close to 1.29 as concerns about Brexit talks and rising UK coronavirus cases are taking their toll on the pound. 

GBP/USD News

XAU/USD holds steady near multi-day tops, around $1890 region

Gold built on the previous day's goodish bounce from 100-day SMA and edged higher through the first half of the trading action on Tuesday. The overnight sustained move beyond 100-hour SMA was seen as a key trigger for bullish traders and pushed the commodity to multi-day tops.

Gold News

Forex Today: Dollar declines on hopes for a US fiscal deal, ahead of presidential debate

Stock markets remain cautiously optimistic and the dollar is on the back foot, extending the reversal from last week's moves. Investors are eyeing a slew of Fed speeches, fresh hopes related to Brexit, and the first presidential debate.

Read more

WTI stalls four-day winning streak, tests $40 ahead of API data

WTI (futures on Nymex) turns negative for the first time in five trading sessions on Tuesday, having reversed half the Monday’s 1% rally to five-week highs of $40.80.

Oil News

Forex MAJORS

Cryptocurrencies

Signatures