Technical Analysis for the U.S. Dollar Index (DXY)
The U.S. Dollar Index is still moving in a bearish trend on the four-hour timeframe. Prices fell from the 99.20 level and successfully formed an IFVG on the four-hour timeframe around the 98.98 level. Currently, prices are trading around the 98.75 level, and the bearish direction is expected to continue during the day.
Key Economic News:
The U.S. dollar is awaiting the ADP Non-Farm Employment Change data today, which is expected to affect the movement of the dollar.
Liquidity Levels:
Prices are expected to decline and target the 98.60 level, and may reach the 98.25 level.
The bearish scenario is invalidated if the 99.20 level is visited.
