Technical Analysis of the U.S. Dollar Index
The U.S. Dollar Index is moving within an upward trend on the 4-hour timeframe. Prices formed an FVG zone around 98.97, which represents an important buying level for the dollar. Prices have rebounded from that area, and are currently trading around 99.51 as discussed in the currency analysis video. The upward momentum of the dollar is expected to continue.
Economic News:
The U.S. dollar is awaiting the release of the ISM Manufacturing PMI today, which is expected to impact the dollar’s movement and, consequently, other currencies.
Liquidity Levels:
Prices are expected to rise and target the 99.80 level.
The bullish scenario will be invalidated if a 4-hour candle closes below 98.97.
