US Dollar Index Technical Analysis: Elliot wave pattern sends DXY down with 96.00 as target

Flavio Tosti Independent Analyst

DXY daily chart

The US Dollar Index (DXY) is pulling back down after the market formed a 5-wave Elliot pattern.

DXY 4-hour chart

DXY broke below the 50 and 100-period simple moving averages.
Bears should keep the market below 96.75 and 97.00 figure to keep the bearish momentum going.

DXY 30-minute chart

A break below 96.40 should open the doors to the 96.00 figure

Additional key levels at a glance:

Dollar Index Spot

Overview:
    Last Price: 96.44
    Daily change: -65 pips
    Daily change: -0.669%
    Daily Open: 97.09
Trends:
    Daily SMA20: 96.6
    Daily SMA50: 95.68
    Daily SMA100: 95.36
    Daily SMA200: 93.5
Levels:
    Daily High: 97.39
    Daily Low: 96.76
    Weekly High: 97.01
    Weekly Low: 95.68
    Monthly High: 97.2
    Monthly Low: 94.79
    Daily Fibonacci 38.2%: 97.15
    Daily Fibonacci 61.8%: 97
    Daily Pivot Point S1: 96.77
    Daily Pivot Point S2: 96.45
    Daily Pivot Point S3: 96.14
    Daily Pivot Point R1: 97.4
    Daily Pivot Point R2: 97.71
    Daily Pivot Point R3: 98.03

Author

Flavio Tosti

Independent Analyst

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