Dollar Index (DXY) Forming Elliott Wave Zig Zag Pattern

Good day fellow merchants. On this technical article we’re going to take a look at the Elliott Wave charts of Greenback Index DXY revealed in members space of the web site. As our members know, DXY is forming a correction towards the 103.56 peak. Within the following textual content, we’ll clarify the Elliott Wave evaluation and description the goal areas.

DXY Elliott Wave 1 Hour Chart 04.28.2025

The present view means that the US Greenback Index is correcting the cycle from the 103.56 peak.We depend 5 waves within the rally from the low, indicating that we have now accomplished solely the primary leg of a possible correction, labeled as wave ((a)) in black.

The market is at present forming wave ((b)), which may attain the 99.18–98.75 space.On this zone, we count on consumers to look for a possible last push increased in wave ((c)), as proposed on the chart.

DXY Elliott Wave 1 Hour Chart 04.28.2025

Greenback discovered consumers at 99.18–98.75 space as anticipated. It made first rate rally that broke the earlier peak ((a)) , confirming that the following leg up is in progress – ((c)). Greenback can see 100.97-102.26 space earlier than sellers seem once more.