DOLLAR INDEX (DXY) – Elliott Wave & Wedge Pattern Analysis | U.S. Dollar Currency IndexTVC:DXYGreenfireforexThe US Dollar Index (2H timeframe) is currently developing a corrective wedge structure (A–B–C–D–E) following a completed 5-wave bearish impulse. The current price action suggests a potential bullish correction from the E-point. 🔹 Technical Structure Breakdown: The previous bearish leg completed a Wave (5), marking the end of an impulse cycle. Price is now consolidating within a rising wedge pattern, forming the A–B–C–D–E structure. The E-point is acting as a near-term support, aligning with the ascending wedge base. Retracement targets: 50.0% → short-term correction level 78.6% → ideal reversal zone before continuation 📊 Key Levels to Watch: Support Zone: 97.600 – 97.500 Resistance Zone: 97.900 – 98.100 Fib Targets: 50% and 78.6% retracement of the recent swing ⚡ Analyst View: The E-point bounce could lead to a short-term bullish corrective move toward the 50–78.6% Fibonacci levels before resuming the next bearish leg as part of a broader downtrend. Traders should monitor reaction at the wedge top for possible rejection and reversal confirmation. 🧠 Pattern: Rising Wedge inside corrective phase 🕓 Timeframe: 2H 💰 Instrument: US Dollar Index (DXY) 🎯 Bias: Short-term bullish correction → medium-term bearish continuation