DXY Update — July 29, 2026US Dollar IndexCAPITALCOM:DXYWeiL9295Daily ERL swept at ~101.30 — potential exhaustion of the current leg up Expecting retracement into daily FVG (~99.60-100.00) before resuming uptrend FVG also coincides with monthly IRL as July closes — strong confluence zone Retracement would form a 4H protected low — healthy structure for continuation up 1HR (LTF) Key short term support sitting at ~100.95-101.00 If this breaks — path opens toward 100.50 then into daily FVG below Rejection from ERL visible — bearish momentum building on LTF FOMC Risk — July 30 Rate hike decision could invalidate retracement thesis entirely Hike = DXY bullish = ERL holds and pushes higher Thesis is flexible — happy to be wrong and reassess post FOMC Bias: Neutral to bearish short term — watching for break of 100.95 as retracement trigger — bullish medium term thesis intact