#DXY Elliott Wave Analysis
Wave 2 is testing resistance at the 0.618 Fibonacci level (98.687). This is the make-or-break point for the Dollar's next major move.
#DXY 🇺🇸
Wave 2 is testing resistance at the 0.618 Fibonacci level (98.687). This is the make-or-break point for the Dollar's next major move.
The structure tells us what to watch. If resistance holds and Wave 3 begins, we get confirmation of the larger bearish cycle. That means systematic Dollar weakness across the board.
When the DXY falls, it creates a ripple effect. EUR, GBP, AUD, and Gold all catch that tailwind. But we don't trade the Dollar direction blindly.
The DXY gives us the compass. Every pair has its own Elliott Wave structure. We use Dollar weakness as our signal, then trade individual setups with proper wave counts and risk management.
Wave 3 is what we're watching for. Until then, we track the structure and stay disciplined.
Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Elliott Wave analysis involves subjective interpretation. Always do your own research and manage your risk accordingly.
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