US Dollar Index Price Analysis: The 90.00 area holds the downside…for now

DXY failed to extend the recent bullish attempt beyond 90.60.
The leg lower could re-test the May lows in the mid-89.00s.

Pablo Piovano FXStreet

DXY extends the consolidative mood always around the key 90.00 neighbourhood on Wednesday.

If the selling impulse picks up extra pace, then a re-test of the 90.00 mark should emerge on the horizon in the near-term. A breach of it should open the door to a deeper retracement to the May’s low near 89.50.

On the upside, bullish attempts remain capped by the 90.50/60 band for the time being.

In the meantime, and looking at the broader scenario, while below the 200-day SMA, today at 91.58 the outlook for the buck is forecast to remain negative.

DXY daily chart

Dollar Index Spot

Overview
Today last price	89.98
Today Daily Change	16
Today Daily Change %	-0.16
Today daily open	90.12

Trends
Daily SMA20	90.09
Daily SMA50	90.92
Daily SMA100	91.05
Daily SMA200	91.6

Levels
Previous Daily High	90.18
Previous Daily Low	89.96
Previous Weekly High	90.63
Previous Weekly Low	89.66
Previous Monthly High	91.44
Previous Monthly Low	89.54
Daily Fibonacci 38.2%	90.09
Daily Fibonacci 61.8%	90.04
Daily Pivot Point S1	89.99
Daily Pivot Point S2	89.86
Daily Pivot Point S3	89.77
Daily Pivot Point R1	90.21
Daily Pivot Point R2	90.31
Daily Pivot Point R3	90.44

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.