Dollar Index – Weekly Review
The U.S. Dollar (DXY) continues to track our long-term roadmap, and today it recorded a few events we simply cannot ignore — this update is crucial for anyone exposed to dollar-sensitive instruments. We’ll review the latest candlestick signals, highlight the key confirmation levels and failure lines, and test the Elliott Wave structures to map the highest-probability path.
CANDLES
Today the dollar further expanded its 8/20 EMA bullish cross on the weekly frame. Over the last two days, the Greenback backtested the 200 DMA. Now, everything is set for a solid rally and a bullish monthly close.
Classical Pattern – Double Bottom
The dollar is progressing in a slow, healthy manner. It has already tested the potential double-bottom neckline and has a strong chance of completing it within the next two weeks.
ELLIOTT WAVES
No changes to the long term, just a refreshed chart.
Road Map
The Dollar may be developing an upward impulse with the first wave as a diagonal.
SUMMARY
The Dollar closed October with decisive bullish candles and signals across multiple frames. So far in November, DXY has strengthened its mid- and long-term momentum. The current candles and technical signals point to a continued rally.
Short term: bullish
Mid term: bullish
Long term: bullish
Happy Trading!
DXY Annual Review:
https://investingangles.com/2023/12/30/dollar-index-annual-review-dxy-dxy-usd-forex-elliottwave-gold-silver/
