The Dollar’s Rally Looked Unstoppable — But the Wave Pattern Told Another Story

In December 2024, our Elliott wave analysis of short-term waves indicated that the dollar’s rally had one more decent push remaining. We showed subscribers the chart below:

A few weeks later, the Dollar Index hit 110. On January 13, 2025, we recognized that a completed pattern was in place stretching back to the buck’s July 2023 low. We warned that the next major move “will be a multi-month decline that draws the index below 99.578.”

The Dollar Index peaked that very day and then turned sharply lower, plunging below 98 by April 21 – a three-year low.

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