Technical Analysis of the U.S. Dollar Index
The U.S. Dollar Index is currently trending upward on the 4-hour and 1-hour charts. Prices have successfully broken through the 98.85 level, which represents a weekly order block. A daily candle close above this area is likely to support continued upward movement, as long as no bearish reversal patterns emerge from the zone.
Key Economic News
The U.S. Dollar Index surged and is now trading around the 99.55 level after the release of employment data from ADP, which showed a noticeable increase in jobs—officially 104,000 new positions, not 107,000 as initially cited. Investors are now focused on Jerome Powell’s speech following the rate decision. These strong figures leave little room for a rate cut, as suggested by Trump, making Powell’s tone particularly impactful on the markets.
Liquidity Levels
Prices are expected to continue rising toward 100.55, followed by 102.01.
Scenario Invalidated:
The bullish outlook is negated if prices revisit the 97.45 level.
