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 know, Dollar has given us recovery against the 105.21 peak. It found sellers after 3 waves pattern and made the decline toward new lows as expected. Consequently, we expect more short-term weakness in the near term. In the further text, we are going to explain the wave count.
DXY H1 Midday Update 07.15.2024
DXY ended cycle from the 105.217 peak as 5 waves structure leading diagonal. Current view suggests we are getting wave (ii) blue recovery , that can be unfolding as 3 waves bounce. We expect Dollar index to keep finding intraday sellers in 3, 7, and 11 swings.
DXY H1 Asia Update 07.17.2024
DXY made clear 3 waves up from the lows. Current view suggests wave (ii) blue recovery is done at 104.50 high, labeled as abc red. As far as the price holds below that level, we expect more downside in near term. We would like to see break below (i) blue to confirm next leg down is in progress.
DXY H1 London Update 07.17.2024
Dollar index made a further decline as expected. The price made break of previous low , confirming wave (iii) blue is in progress.
Remember, the market is dynamic, and the presented view may have changed in the meantime. For the most recent charts and target levels, please refer to the membership area of the site. The best instruments to trade are those with incomplete bullish or bearish swing sequences. We put them in Sequence Report and best among them are presented in the Live Trading Room
Elliott Wave Forecast Membership
Trade with a clear plan — not guesswork.
At Elliott Wave Forecast, our team of professional analysts monitors 78 instruments across global markets every day, helping members identify high-probability opportunities and manage risk through a structured, rules-based trading process.
Inside your membership, you’ll receive:
✅ Real-Time Trading Recommendations — with clearly defined Entry, Stop Loss, and Take Profit levels for each setup.
✅ Live Trading Room Access — follow professional trade setups as they develop in real time.
✅ 24-Hour Chat Room Support — ask unlimited questions and receive guidance from experienced analysts throughout the trading week.
✅ Expert Multi-Market Analysis — covering Forex, Stocks, Indices, ETFs, Commodities, and Cryptocurrencies.
✅ Exclusive Educational Videos — included at no additional cost, with practical lessons on Elliott Wave theory, trading strategies, risk management, and trade execution.
✅ Learn the Process Behind Every Setup — understand how experienced analysts identify opportunities, define risk, and manage trades as market conditions evolve.
Ready to see how the process works in real market conditions?
Regular 14-Day Trial: $9.99
Limited-Time Price: Only $0.99
👉 Start Your 14-Day Trial for Only $0.99
