Hello fellow traders. In this technical article we’re going to take a quick look at the Elliott Wave charts of Dollar Index, published in members area of the website. As our members know, USDX has ended the cycle from the December’s 2023 low. The index has recently given us bounce in a 3-wave pattern, when sellers appeared right at the equal legs zone. Let’s break down our Elliott Wave forecast further in this article.
USDX H1 Asia Update 05.08.2024
The current view suggests that Dollar Index is doing a ((iv)) recovery, which is correcting the cycle from the 106.48 peak. Proposed recovery can be unfolding as a Elliott Wave Zig Zag Pattern .The price is reaching important technical area at 105.46-105.86. We expect potential sellers to appear in this area, which could lead to a further decline towards new lows or a three-wave pull back at least.
Reminder : You can learn more about Elliott Wave Patterns at our Free Elliott Wave Educational Web Page.
USDX H1 Asia Update 05.14.2024
USDX has found sellers as expected and made a nice bounce from the Equal Legs zone. We consider the wave ((iv)) correction completed at the 105.759 high. CWe would like to see break of previous ((iii)) black low as confirmation wave ((v)) is in progress. We advise against buying Dollar in during any suggested bounce and favor the short side.
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
You can learn more about Elliott Wave Patterns at our Free Elliott Wave Educational Web Page
Over the years, we’ve developed a proven trading strategy that combines this approach. It helps to define precise Entry, Stop Loss, and Take Profit levels, allowing you to enter trades with confidence. Even better, this strategy helps make your positions risk-free shortly after entering, providing added protection for your trading account.
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
