The DXY Dollar Index price has found temporary support and is now struggling to gain. Unfortunately, the pressure is still high, so we’ll have to wait for the US data to bring us a clear direction. The current week could be decisive for the US Dollar. Some poor US economic figures could force the DXY to resume its correction, while better than expected data may help the index return higher. Technically, it moves sideways in the medium to the long term, on the Daily chart. The ADP Non-Farm Employment Change was reported at 330K versus 695K expected compared to 692K in June. This is bad for the US Dollar. The ISM Services PMI could jump to 60.5 from 60.1 points, while the Final Services is expected to remain steady at 59.8 points. –Are you interested to learn more about automated forex trading? Check our detailed guide- Tomorrow, the Unemployment Claims could bring more action on the DXY. Furthermore, the NFP, Average Hourly Earnings, and the Unemployment Rate indicators will be released on Friday. Finally, after worse than expected ADP Non-Farm Employment Change, the Non-Farm Employment Change could come below the 870K estimate, ruining the USD. DXY price technical analysis: More down on cards DXY daily price chart The Dollar Index has found demand on the 38.2% retracement level, but the pressure is still high as the price failed to come back towards the 23.6% level. Coming back below the 92.00 psychological level and making a new lower low may signal a deeper decline. Get FREE Forex Signals Now! If the index resumes its drop after today’s data, the 91.51 lower low is seen as a potential downside target. DXY 4-hour price chart As you can see on the H4 chart, the DXY has registered only false breakouts above the descending pitchfork’s median line (ml). Now is trading in the red, and it could move towards the 38.2% retracement level again. –Are you interested to learn more about forex signals? Check our detailed guide- A valid breakdown through this downside obstacle may signal further decline with potential downside targets at 91.51 and down to the descending pitchfork’s lower median line (LML). It could resume its drop as long as it stays under the median line (ML). The further decline signals USD’s depreciation versus its rivals. 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. Olimpiu Tuns Olimpiu Tuns Olimpiu Tuns graduated with a Master in Business Administration and is a seasoned Market Analyst / Trader / Trainer with 10 years of experience in the financial markets having expertise in Forex, Commodities, Index, Cryptocurrencies, and Stocks. He worked as a Market Analyst for three major brokerage companies, as a prop trader, and as a contributor/content creator for news portals and educational platforms. View All Post By Olimpiu Tuns Forex News Today: Daily Trading News share Read Next Dogecoin Price Prediction: Ready to Buy at $0.1950? Ali B. 1 year The DXY Dollar Index price has found temporary support and is now struggling to gain. Unfortunately, the pressure is still high, so we'll have to wait for the US data to bring us a clear direction. The current week could be decisive for the US Dollar. Some poor US economic figures could force the DXY to resume its correction, while better than expected data may help the index return higher. Technically, it moves sideways in the medium to the long term, on the Daily chart. The ADP Non-Farm Employment Change was reported at 330K versus 695K expected compared to 692K… 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.