According to CME FedWatch Tool, there is a 92% probability of a 25 bps rate cut this month, with cumulative easing of 125 bps priced over the next 12 months.

Today at 16:00 (GMT+2), attention will turn to the JOLTS job openings report, expected to show a decline from 7.437M to 7.400M. While unlikely to have a major market impact, it sets the stage for more critical labor data due Thursday at 14:00 (GMT+2). Forecasts call for average hourly earnings growth slowing to 3.7% y/y (0.3% m/m), nonfarm payrolls at +75k (vs. +73k prior), and unemployment ticking up to 4.3%.

At 20:00 (GMT+2), the Fed’s Beige Book will also be published, offering insights into regional economic conditions and business activity.

Support and Resistance

  • Resistance: 98.69, 99.00, 99.50, 100.00

  • Support: 98.28, 97.98, 97.72, 97.42

On the daily chart, Bollinger Bands remain flat, with the lower band narrowing slightly, restricting near-term bullish momentum. MACD is climbing above the signal line, attempting to stay in positive territory. Stochastic is pointing higher, reinforcing short-term upside potential.

USDX

Trading Scenarios

Primary (Intraday | SELL STOP)

  • Entry: 97.95

  • Take Profit: 97.42

  • Stop Loss: 98.28

  • Horizon: 2–3 days

Alternative (BUY STOP)

  • Entry: 98.70

  • Take Profit: 99.50

  • Stop Loss: 98.28

Key Levels: 97.42, 97.72, 97.98, 98.28, 98.69, 99.00, 99.50, 100.00