About DXY
The US Dollar Index (DXY) is a geometrically weighted index that measures the value of the US dollar against a selected basket of currencies from major trading partners. This index was designed in 1973 by the Federal Reserve with a base value of 100 and is now calculated and published by ICE. Changes in DXY reflect the relative strength of the dollar in global markets and serve as a key metric for evaluating monetary policies, currency risks, and the direction of international trade. An increase signals dollar strengthening (typically exerting downward pressure on commodities and emerging markets), while a decrease indicates dollar weakening (supporting risk assets).
DXY Forecast by NEoWave
Image 1:
In the cash data 2M, we see that a bullish correction has started from 2008, and a pattern with price, time, and structural similarity has formed. As a result, it is most likely that a Diametric is currently forming. At present, given that the time for wave-(F) has not yet completed, it seems that the price and time correction in DXY will continue, but it will not be fast or violent.
Image 2:
In the cash data 1W, we can see wave-(F) in more detail. It seems that currently, wave-(c) has completed, and the price is stabilizing. Therefore, I expect a round of bullish correction. In the image, I considered wave-(f) as a Diametric, but the probability of a triangle structure forming in wave-(f) is higher because waves (b) and (d) both have triangular structures.
For now, we wait to see what path wave-(d) of (F) will take.
Good luck
NEoWave Chart
Disclaimer
All wave counts, analyses, and forecasts presented on this website are produced by NEoWave Chart and operate independently of NEoWave, Inc and www.NEoWave.com.
Our content is strictly based on the NEoWave methodology developed by Glenn Neely, adhering to his innovative techniques and principles.
