DXY: Dollar Preparing For A Major Breakout!U.S. Dollar Currency IndexTVC:DXYHKCM_GlobalSince the strong advance that began in May 2021, the US Dollar Index has been trading within a broad sideways-to-downward correction. From a classical technical perspective, this structure can also be interpreted as a large long-term bull flag, with its lower boundary having been respected repeatedly. From an Elliott Wave perspective, our current count suggests that the corrective Wave in red may already have found its bottom. We could therefore already be advancing in the following Wave , potentially taking the DXY significantly higher and finally triggering a sustained breakout from this multi-year consolidation. From the current area around 100 points, our first major upside target sits near 115 points, representing roughly 15% upside. An extension toward the 138.2% Fibonacci level could even open the door for a move of approximately 22%. This is a scenario we expect to develop over the coming months rather than within a few days or weeks. A sustained strengthening of the US Dollar would also add further pressure to precious metals such as gold and silver.