DXY drops as the ADP Non-Farm Employment Change has come in worse than expected. Making a valid breakdown through the weekly S1 could signal a larger downside movement. The bias remains bearish after failing to stabilize above the first warning line (wl1). The DXY Dollar Index price has ended its temporary rebound and now it seems determined to come back down. It’s located at 92.57 level versus 92.78 today’s high. –Are you interested to learn more about day trading brokers? Check our detailed guide- The index has started falling again after reaching a dynamic resistance. Now, it could move down again after taking a hit from the ADP Non-Farm Employment Change. The economic indicator reported only 374K jobs in August versus 640K expected. It has bounced from 326K reported in July, but this could be bad for the US Dollar. The US will release the ISM Manufacturing PMI later today, which is expected to drop from 59.5 to 58.5, signaling a slowdown in expansion. In addition, the Final Manufacturing PMI could remain steady at 61.2 points, the Construction Spending could rise by 0.2%, the ISM Manufacturing Prices may fall from 85.7 to 84.1. At the same time, the Wards Total Vehicle Sales indicator could slip to 14.4M from 14.8M. So, the fundamentals will move the markets today. All these economic figures have a big impact on the DXY. Poor economic figures could force the index to resume its drop. This situation indicates USD’s depreciation. Get FREE Forex Signals Now! DXY Dollar Index price technical analysis: Sell-off to support zones DXY Dollar Index 4-hour price analysis The DXY Dollar Index price has gained a little in the short term after registering only a false breakdown through 92.47 static support, a former low. It has found temporary support on the 150% Fibonacci line. Unfortunately, it failed to reach the 92.80 static resistance level or stabilize above the first warning line (wl1) of the descending pitchfork signaling massive pressure. –Are you interested to learn more about forex signals? Check our detailed guide- The outlook is bearish in the short term after making a valid breakdown below 92.80 level, after escaping from the minor range. 92.47 is seen as static support. Breaking below this level could signal a further drop. Also, the 150% Fibonacci line and the weekly S1 (92.37) are representing downside obstacles. So, only a valid breakdown through these levels could really validate a larger downside movement ahead of the US Non-Farm Payrolls. Looking to trade forex now? Invest at eToro! Trade Forex Now! 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Saqib Iqbal Saqib Iqbal Saqib Iqbal is a market analyst, prop fund trader and mentor, serving the industry with his analysis and educational content since 2011. The author has great exposure to different financial markets and institutions. He's well-known for his day trading reviews and multiple timeframe analysis. View All Post By Saqib Iqbal Forex News Today: Daily Trading News share Read Next DASH Spikes $15.16 (Scoring +6.99%) – Where to Buy DASH? Ali B. 1 year DXY drops as the ADP Non-Farm Employment Change has come in worse than expected. Making a valid breakdown through the weekly S1 could signal a larger downside movement. The bias remains bearish after failing to stabilize above the first warning line (wl1). The DXY Dollar Index price has ended its temporary rebound and now it seems determined to come back down. It’s located at 92.57 level versus 92.78 today’s high. –Are you interested to learn more about day trading brokers? Check our detailed guide- The index has started falling again after reaching a dynamic resistance. Now, it could move down… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.