DXY Elliott Wave Analysis: Wave (iv) b-Leg Nears 102.37 — Wave c Targets 101.28 Before Wave (v)
The Dollar Index is correcting after completing wave (iii) near 102.945. The EWPlans chart maps an a-b-c wave (iv) before the advance resumes. Here is the breakdown.
Elliott Wave Analysis: Where Is DXY Right Now?
Background:
From the major (c)/2 low near 98.60, DXY advanced through wave (i), a wave (ii) correction, and a powerful wave (iii) with ①-②-③-④-⑤ structure, topping near 102.945.
Wave (iv) — a-b-c:
a: a ①-②-③-④-⑤ decline to ≈101.45, near the 0.382 Fibonacci (101.284)
b — now active: rallying toward the 0.618 Fibonacci at 102.372; current price 102.240
c — next: mapped toward 101.284
Afterward, the chart shows wave (v) resuming higher.
Expected Scenario and Potential Moves
DXY pushes toward 102.372, then turns lower toward 101.284, completing (iv) before (v).
Key levels:
102.945: wave (iii) high
102.372: 0.618 Fib — b target
102.240: current price
101.612 / 101.026: supports
101.284: 0.382 Fib — c target
98.599: Invalid Level
Strategic Perspective for Traders
102.372 is the key zone for b completion; a sustained close above 102.945 would challenge this correction.
101.284–101.026 is the zone to watch for (iv) completion.
Fed policy and risk sentiment are the main macro drivers, with implications for EUR/USD, GBP/USD, gold and silver.
Conclusion — Follow DXY’s Wave Structure With EWPlans
DXY’s wave (iv) is mid-correction, with a b-leg toward 102.37 and a c-leg toward 101.28 mapped ahead of wave (v).
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