Technical Analysis of the US Dollar Index

The US Dollar Index is moving in a sideways range on the four-hour timeframe. Prices successfully swept the liquidity below the 97.83 level, then moved higher and formed an IFVG zone on the four-hour timeframe. After observing positive price action from the current zones, prices are expected to rise.

Key Economic News

The US Dollar is awaiting today’s monthly Retail Sales data, a speech by Donald Trump, and Kevin Warsh, the nominee for Chair of the Federal Reserve, who will appear before a US Senate committee for a confirmation hearing.

Liquidity Levels

Prices are expected to rise toward 98.63, followed by the next liquidity level at 99.17.

The bullish scenario will be invalidated if prices revisit 97.72.

Technical Analysis of the US Dollar Index The US Dollar Index is trading sideways on the 4-hour chart. Prices managed to draw liquidity from below the 97.83 level, then rose higher, subsequently forming an IFVG zone on the 4-hour chart. Following positive price action from current levels, prices are expected to rise. Key Economic News Today, the US Dollar awaits monthly retail sales data, a speech by Donald Trump, and a Senate hearing for Federal Reserve nominee Kevin Warsh ahead of his formal confirmation. Liquidity Levels   We expect prices to rise, targeting the 98.63 level, followed by the next liquidity level at 99.17. The bullish scenario will be invalidated if prices reach the 97.72 level.