Technical Analysis of the U.S. Dollar Index
The U.S. Dollar Index fell sharply after rejecting the DFVG area around 98.10, following the release of U.S. inflation data. Prices are trending lower on the 1-hour and 4-hour timeframes. Currently, the index is trading around 97.43, after turning lower from the 1H FVG near 97.69. A further decline is expected today.
Key Economic News
There are no major releases today, but a speech by President Trump may influence the dollar’s intraday moves.
Liquidity Levels
Prices are expected to drop toward 97.05, then 97.06, and 96.65.
Scenario Invalidated
The bearish scenario is invalidated if prices reach 97.90.
