US Dollar Index Price Analysis: Side-lined… waiting for the Fed

DXY keeps the consolidative mood around the 90.50/60 area.
Next resistance comes in at 90.67, monthly peaks.

Pablo Piovano FXStreet

DXY extends the erratic performance in the upper end of the weekly range around the mid-90.00s.

Price action in the dollar stays muted ahead of the key FOMC gathering due later in the NA session.

Bullish attempts need to clear tops in the 90.65/70 zone to allow for the continuation of the uptrend in the short-term horizon. On the flip side, the loss of the 90.00 level should open the door to a re-test of the May’s low around 89.50.

In the meantime, and looking at the broader scenario, while below the 200-day SMA, today at 91.52 the outlook for the buck is forecast to remain negative.

DXY daily chart

Dollar Index Spot

Overview
Today last price	90.54
Today Daily Change	13
Today Daily Change %	0.02
Today daily open	90.52

Trends
Daily SMA20	90.09
Daily SMA50	90.68
Daily SMA100	91.05
Daily SMA200	91.53

Levels
Previous Daily High	90.67
Previous Daily Low	90.35
Previous Weekly High	90.61
Previous Weekly Low	89.84
Previous Monthly High	91.44
Previous Monthly Low	89.54
Daily Fibonacci 38.2%	90.55
Daily Fibonacci 61.8%	90.47
Daily Pivot Point S1	90.35
Daily Pivot Point S2	90.19
Daily Pivot Point S3	90.03
Daily Pivot Point R1	90.68
Daily Pivot Point R2	90.84
Daily Pivot Point R3	91

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.

EUR/USD treads water above 1.1850 amid thin trading

EUR/USD stays defensive but holds 1.1850 amid quiet markets in the European hours on Monday. The US Dollar is struggling for direction due to thin liquidity conditions as US markets are closed in observance of Presidents' Day.

GBP/USD flat lines as traders await key UK and US macro data

GBP/USD kicks off a new week on a subdued note and oscillates in a narrow range near 1.365 in Monday's European trading. The mixed fundamental backdrop warrants some caution for aggressive traders as the market focus now shifts to this week's important releases from the UK and the US.

Gold sticks to intraday losses; lacks follow-through

Gold remains depressed through the early European session on Monday, though it has managed to rebound from the daily trough and currently trades around the $5,000 psychological mark. Moreover, a combination of supporting factors warrants some caution for aggressive bearish traders, and before positioning for deeper losses.

Bitcoin, Ethereum and Ripple consolidate within key ranges as selling pressure eases

Bitcoin and Ethereum prices have been trading sideways within key ranges following the massive correction. Meanwhile, XRP recovers slightly, breaking above the key resistance zone. The top three cryptocurrencies hint at a potential short-term recovery, with momentum indicators showing fading bearish signs.

Global inflation watch: Signs of cooling services inflation

Realized inflation landed close to expectations in January, as negative base effects weighed on the annual rates. Remaining sticky inflation is largely explained by services, while tariff-driven goods inflation remains limited even in the US.

Ripple Price Forecast: XRP potential bottom could be in sight

Ripple edges up above the intraday low of $1.35 at the time of writing on Friday amid mixed price actions across the crypto market. The remittance token failed to hold support at $1.40 the previous day, reflecting risk-off sentiment amid a decline in retail and institutional sentiment.