US Dollar is moving as anticipated in 2025 [Video]

Gregor Horvat Wavetraders

US Dollar Index – DXY is moving as anticipated from technical and Elliott wave perspective since the start of 2025 and we have been talking a lot in the past months.

On January 03, we warned about a strong resistance for wave (C) of an (A)(B)(C) correction in wave B that can cause a reversal down for wave C in 2025.

DXY Daily Chart From January 03 2025

Later on February 25, we got that reversal from projected resistance after a completed wedge pattern within wave (C) of B, so we pointed out that much more weakness is coming for a higher degree wave C.

DXY Daily Chart From Feburary 25 2025

On March 06, it extended strongly lower, similar to back in 2017, when Trump also took office like this year, so wave C was in full progress and barely in the middle of an impulsive decline towards 2023 lows.

DXY Daily Chart From March 06 2025

As you can see now, in April, DXY is already back to 2023 lows and below 100 area for wave C as expected, but due to an unfinished lower degree five-wave bearish impulse, there can be room down to around 94 area, so after subwave 4 pullback, we may see moore weakness for subwave 5 of C.

DXY Daily Chart From April 14 2025

Get Full Access To Our Premium Elliott Wave Analysis For 14 Days. Click here.

Author

Gregor Horvat

Wavetraders

Experience Grega is based in Slovenia and has been in the Forex market since 2003.

EUR/USD extends its optimism past 1.1900

EUR/USD retains a firm underlying bid, surpassing the 1.1900 mark as the NA session draws to a close on Monday. The pair’s persistent uptrend comes as the US Dollar remains on the defensive, with traders staying cautious ahead of upcoming US NFP prints and CPI data.

GBP/USD hits three-day peaks, targets 1.3700

GBP/USD is clocking decent gains at the start of the week, advancing to three-day highs near 1.3670 and building on Friday’s solid performance. The better tone in the British Pound comes on the back of the intense sekk-off in the Greenback and despite re-emerging signs of a fresh government crisis in the UK.

Gold picks up pace, retargets $5,100

Gold gathers fresh steam, challenging daily highs en route to the $5,100 mark per troy ounce in the latter part of Monday’s session. The precious metal finds support from fresh signs of continued buying by the PBoC, while expectations that the Fed could lean more dovish also collaborate with the uptick.

XRP struggles around $1.40 despite institutional inflows

Ripple (XRP) is extending its intraday decline to around $1.40 at the time of writing on Monday amid growing pressure from the retail market and risk-off sentiment that continues to keep investors on the sidelines.

Japanese PM Takaichi nabs unprecedented victory – US data eyed this week

I do not think I would be exaggerating to say that Japanese Prime Minister Sanae Takaichi’s snap general election gamble paid off over the weekend – and then some. This secured the Liberal Democratic Party (LDP) an unprecedented mandate just three months into her tenure.