Technical Analysis of the US Dollar Index

The US Dollar Index is moving in a bearish trend on the four-hour timeframe. The index declined after liquidity was taken around the 99.30 level. Prices also succeeded in forming a Fair Value Gap (FVG) on the four-hour timeframe, which represents an important selling zone.
Yesterday, Tuesday, the US dollar moved in a sideways range, then prices began to rise in a corrective move toward the area previously identified. A bearish price reaction is required from this zone to initiate selling positions. It is expected that prices will continue to decline during today’s session.

Key Economic News:
There are no major economic releases affecting the US dollar today, except for a speech by Donald Trump, which may impact US dollar movements.

Liquidity Levels:
Prices are expected to decline and target the 98.15 level, followed by the 97.75 level.
The bearish scenario will be invalidated if prices close with an hourly candle above the 99.30 level.