Technical analysis for the US Dollar Index
The US Dollar Index is moving in a sideways range on the four-hour and one-hour timeframes, and the prices bounced for the second time from the 99.97 level, which represents an area where liquidity was swept. Currently, prices are trading around the 99.77 level, and it is expected that prices will begin to decline from these levels. The confirmation sell signal is the closing of a one-hour candle below the 99.59 level.
Major economic news:
There is no important news today, so the movement is expected to be relatively calm.
Liquidity levels
Prices are expected to decline and target the 99.59 level, then the 99.02 level, then the 98.60 level.
The bearish scenario is invalidated if a one-hour candle closes above the 100.25 level.