US Dollar Index technical analysis: Can the Greenback come back?

DXY (US Dollar Index) is holding above the key 98.00 handle.
The United States Retail Sales Group data halts the intraday DXY bleeding.

Flavio Tosti Independent Analyst

DXY daily chart

DXY (US Dollar Index) is trading in a bull trend above its main daily simple moving averages (DSMAs). The Greenback remains under pressure this Friday although the US Retail Sales Group in August came in line with expectation and put an end to DXY intraday decline.

DXY four-hour chart

DXY is holding on above its 200 SMA and a key support at 98.00, suggesting that the bull trend is still into play. However, bulls have a lot of work to do as they have to regain several levels of resistances at 98.42, 98.55 and 98.68.

On the other hand, if DXY loses the 98.00 handle on a daily closing basis, the market might selloff towards 97.60 and 97.20 swing lows. Next week will likely be crucial.

Additional key levels

Dollar Index Spot

Overview
Today last price	98.21
Today Daily Change	-0.16
Today Daily Change %	-0.16
Today daily open	98.37

Trends
Daily SMA20	98.37
Daily SMA50	97.9
Daily SMA100	97.6
Daily SMA200	97.13

Levels
Previous Daily High	99.11
Previous Daily Low	98.19
Previous Weekly High	99.38
Previous Weekly Low	98.08
Previous Monthly High	99.02
Previous Monthly Low	97.21
Daily Fibonacci 38.2%	98.54
Daily Fibonacci 61.8%	98.76
Daily Pivot Point S1	98
Daily Pivot Point S2	97.64
Daily Pivot Point S3	97.08
Daily Pivot Point R1	98.92
Daily Pivot Point R2	99.48
Daily Pivot Point R3	99.84

Author

Flavio Tosti

Independent Analyst

EUR/USD off highs, back to around 1.1900

EUR/USD keeps its strong bid bias in place despite recedeing to the 1.1900 zone following earlier peaks north of 1.1900 the figure on Monday. The US Dollar remains under pressure, as traders stay on the sidelines ahead of Wednesday’s key January jobs report, leaving the pair room to extend its upward trend for now.

GBP/USD hits three-day peaks, targets 1.3700

GBP/USD is clocking decent gains at the start of the week, advancing to three-day highs near 1.3670 and building on Friday’s solid performance. The better tone in the British Pound comes on the back of the intense sekk-off in the Greenback and despite re-emerging signs of a fresh government crisis in the UK.

Gold picks up pace, retargets $5,100

Gold gathers fresh steam, challenging daily highs en route to the $5,100 mark per troy ounce in the latter part of Monday’s session. The precious metal finds support from fresh signs of continued buying by the PBoC, while expectations that the Fed could lean more dovish also collaborate with the uptick.

Crypto Today: Bitcoin steadies around $70,000, Ethereum and XRP remain under pressure

Bitcoin hovers around $70,000, up near 15% from last week's low of $60,000 despite low retail demand. Ethereum delicately holds $2,000 support as weak technicals weigh amid declining futures Open Interest. XRP seeks support above $1.40 after facing rejection at $1.54 during the previous week's sharp rebound.

Japanese PM Takaichi nabs unprecedented victory – US data eyed this week

I do not think I would be exaggerating to say that Japanese Prime Minister Sanae Takaichi’s snap general election gamble paid off over the weekend – and then some. This secured the Liberal Democratic Party (LDP) an unprecedented mandate just three months into her tenure.

Ripple exposed to volatility amid low retail interest, modest fund inflows

Ripple (XRP) is extending its intraday decline to around $1.40 at the time of writing on Monday amid growing pressure from the retail market and risk-off sentiment that continues to keep investors on the sidelines.