Technical Analysis of the US Dollar Index
The US Dollar Index continues to move in a downward trend on the four-hour timeframe, as mentioned in the weekly currency analysis video. Prices have formed an FVG zone on the four-hour timeframe around the 99.25 level, which represents an important selling area for the US dollar. Prices are currently trading around the 98.96 level, and further decline is expected throughout the day.
Key Economic News:
The US dollar is awaiting today’s ISM Manufacturing PMI data, which is expected to impact the dollar’s movements.
Liquidity Levels:
Prices are expected to decline and target the 98.85 level, followed by the 98.60 level.
The bearish scenario is invalidated if prices revisit the 99.48 level.
