Technical Analysis of the US Dollar Index
The US Dollar Index is moving in an upward direction on the 1-hour timeframe, following a bullish rebound from the DFVG zone. The price also formed an FVG on the 1-hour timeframe around the 99.16 level, from which the price has already reacted. Currently, the index is trading around the 99.35 level, and the dollar is expected to continue rising throughout the day.
Key Economic News:
The US dollar is awaiting the Federal Reserve meeting minutes today, which are expected to have a medium-strength impact on price movements.
Liquidity Levels
Prices are expected to rise and target the 99.35 level, followed by the 99.50 level.
The bullish scenario will be invalidated if a 1-hour candle closes below the 98.90 level.
