Technical Analysis of the U.S. Dollar Index
After the private-sector employment change came in at 73 K, well below forecasts, the U.S. dollar fell sharply from last week’s 100.30 high. A DFVG has formed, and the 4-hour structure has shifted from bullish to bearish. Today, a sideways move or a small bounce may appear before the decline resumes.
Key Economic News
No major U.S. data are scheduled for today, so price action is expected to remain relatively quiet.
Liquidity Levels
Prices could slide toward 97.95, then 97.10.
Invalidation
The bearish outlook is canceled if the index revisits 100.30.
