US Dollar Index Technical Analysis: DXY ends the week at five-day lows, near 98.00 handle


  • DXY this week started to correct the early November advance.
  • The next key supports are seen at the 97.80 and 97.50 levels. 
 
 

DXY weekly chart

 
 
DXY (US Dollar Index) retreated slightly this week as the Index is trading above its main weekly simple moving averages in a bull channel.
 

DXY daily chart

 
DXY (US Dollar Index) is trading in a bull trend above the 200-day simple moving average (DMA). This Friday the buck dropped to its lowest in five-days near the 100 DMA located at 98.02. 
 

DXY 4-hour chart

 
DXY is correcting down below its 50 and 200 SMAs, suggesting a bearish bias in the medium term. The market is trying to break below the 98.00 handle. Next week if there is bearish follow-through, the market might continue to decline towards the 97.80 support level. If that support fails to hold prices, then 97.50 can be on the cards.
  
 

Additional key levels

Dollar Index Spot

Overview
Today last price 97.98
Today Daily Change -0.18
Today Daily Change % -0.18
Today daily open 98.16
 
Trends
Daily SMA20 97.77
Daily SMA50 98.29
Daily SMA100 98
Daily SMA200 97.56
 
Levels
Previous Daily High 98.42
Previous Daily Low 98.11
Previous Weekly High 98.4
Previous Weekly Low 97.17
Previous Monthly High 99.67
Previous Monthly Low 97.15
Daily Fibonacci 38.2% 98.23
Daily Fibonacci 61.8% 98.3
Daily Pivot Point S1 98.04
Daily Pivot Point S2 97.92
Daily Pivot Point S3 97.73
Daily Pivot Point R1 98.35
Daily Pivot Point R2 98.54
Daily Pivot Point R3 98.66

 

 

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.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD looks heavy after Friday's bearish outside day

EUR/USD risks reporting losses on Monday, having charted a bearish outside day candlestick pattern on Friday. The dollar will likely remain bid with markets no longer expecting the Fed to cut rates before the November 2020 Presidential Elections.

EUR/USD News

GBP/USD recovers Friday’s losses to 1.3150 as Tories top UK election polls

GBP/USD keeps the recovery mode intact near 1.3150 while heading into the London open on Monday. The spot seems to cheer the Tory lead in all the polls for this week’s UK election. 

GBP/USD News

Forex Today: US dollar buoyed by NFP, trade jitters ahead of a Big week

Forex today experienced a sense of caution in Asia this Monday, as Sunday’s dismal Chinese trade data combined with looming US Dec. 15 tariffs overshadowed the latest trade optimism. 

Read more

Gold: Sidelined after biggest daily decline in four weeks

Gold is lacking a clear directional bias in Asia, having registered its biggest single-day decline in four weeks on Friday. China's data may embolden President Trump to take more aggressive measures. 

Gold News

USD/JPY treads water around 108.60 ahead of a Big week

USD/JPY keeps its range around 108.60, as the yen bulls look to take advantage of upbeat Japanese Q3 data. Further, negative Treasury yields and S&P 500 futures weigh down on the spot. All eyes on FOMC and Trump's Dec. 15 tariffs. 

USD/JPY News

Forex MAJORS

Cryptocurrencies

Signatures