In this technical article we’re going to take a quick look at the Elliott Wave charts of Dollar Index (DXY) published in members area of the website. As our members are aware, the DXY is currently showing impulsive bullish sequences in the cycle from the September low. As a result, we are leaning towards the long side at this stage.
Recently, the Dollar Index has completed a 3-wave pullback, with buyers stepping in precisely at the equal legs zone. In this article, we will dive deeper into the Elliott Wave forecast and explain the reasoning behind our outlook.
DXY H1 London Update 01.15.2025
The current view suggests that the Dollar is forming a ((iv)) black pullback as Elliott Wave Zig-Zag Pattern. The structure of the correction remains incomplete, indicating more short-term weakness. We expect to see another leg down towards the equal legs zone between 108.900 and 108.373 (the potential buyers’ zone).
Once the extreme zone is reached, we anticipate that potential buyers will step in, which could lead to a further rally towards new highs, or at least a three-wave bounce.
DXY H1 London Update 01.17.2025
The US Dollar extended lower towards the buying area as expected. Price reached the extreme zone at 108.900 – 108.373. DXY found buyers and rallied from the Equal Legs zone, completing the pullback at 108.62.
The 108.62 low is key for the view. While above this level, we expect further strength towards new highs. A break below it would prolong the correction.
 published in members area of the website. As our members are aware, the DXY is currently showing impulsive bullish sequences in the cycle from the September low. As a result, we are leaning towards the long side at this stage.){kind=link}