Technical Analysis of the U.S. Dollar Index
The U.S. Dollar Index (DXY) is moving sideways on the 4-hour timeframe since the beginning of the current week. Prices have formed a WFVG zone around the 98.90 level. It is worth noting that the U.S. dollar is awaiting inflation data this week, which will play a significant role in determining the price direction in the coming period. At the moment, prices are likely to rebound upward from the WFVG zone, and after showing bullish price behavior, an increase is expected.
Key Economic News
Market movements are expected to remain calm today due to the U.S. bank holiday.
Liquidity Levels
Prices are expected to rise after confirmation toward 99.52, then 99.80.
The bullish scenario will be invalidated if prices drop to 98.50.
Technical Analysis of the US Dollar Index The US dollar index has been moving in a sideways movement on the four-hour frame since the beginning of this week. Prices have formed the WFVG zone around 98.90 levels. It is worth noting that the US dollar is awaiting inflation data this week, which will play a major role in determining the course of prices during the coming period. For now, prices are likely to bounce up from the WFVG zone, and after a positive price behavior, prices are expected to rise. Top Economic News The market is expected to be quiet during the day, due to the US bank holiday. Liquidity levels Prices are expected to rise after conditions are met, targeting 99.52 levels and then 99.80 levels. The bullish scenario is negated if 98.50 levels are visited.
