Image Source: Pixabay
 

US Dollar Index - DXY is coming lower again and we have been talking a lot about that in the past articles. On February 6 we shared chart + video analysis in which we have been warning about a complex corrective recovery with strong resistance around 104 area.

USDollar is actually nicely falling since then due to lower US Yields. There can be actually room for much more weakness, but on the intraday basis, we see room at least for one more leg down towards 102.00 level or lower.

We have seen some intraday recovery recently, but looks like a clear corrective movement in wave (4) from Elliott wave perspective, which can now send the DXY lower for wave (5).

More By This Author:

Silver Is Bouncing From The Support; Bullish Breakout Soon?
Bitcoin Dominance Is Still Here
Bitcoin Breaks All-Time Highs In An Impulsive Fashion