DXY | Potential to Continue Upward TrendU.S. Dollar Currency IndexTVC:DXYNouzTraderThe H4 structure reveals that the decline from the 99.861 peak was precisely halted at the 98.600–98.850 support floor (lower gray box / Major Demand Zone). DXY A Higher Low (HL) pattern formed following a rejection "wick" in that area, succeeded by a surge of large-bodied green candles that broke through the midpoint of the structural range. At the 99.331 price level, the most recent H4 candle demonstrates solid buying pressure (bullish momentum). The latest upward move successfully cleared the middle gray box (98.900–99.100), which now acts as a Support-Become-Resistance (SBR) zone that has confirmed its role as support. Price is currently advancing toward the local resistance zone in the 99.400–99.500 horizontal line range. ---------------------------------------------------------------------------------------------------------------- ✅ Key Zones: - ⚡Resistance / Supply Zone: 99.400–99.500 range (nearest local resistance area) and the 99.861 green line range (upper limit of the Major Supply Zone / range peak). - ⚡Support / Demand Zone: 98.900–99.100 range (middle gray box / nearest SBR) and the 98.567 green line range (lower gray box / bottom floor of the Major Demand Zone). ---------------------------------------------------------------------------------------------------------------- ✅ Orderflow Analysis - ⚡Buying Absorption at Demand Zone: The prior sharp decline testing the floor in the 98.600–98.700 range was immediately met with institutional buy order accumulation (buying limit absorption). Consecutive impulsive green candlesticks indicate the complete absorption of all sell-side liquidity (ask liquidity). - ⚡Inefficiency / Volume Vacuum Area: The price range between 99.200 and 99.600 represents an area of supply void (volume inefficiency). With buyers successfully maintaining momentum above the 99.100 level, the movement is projected to accelerate rapidly across this efficiency gap, targeting a test of the major supply zone stronghold in the 99.800–99.861 range. ---------------------------------------------------------------------------------------------------------------- ✅ Elliott Wave Analysis Mapping the wave cycle movements on the H4 timeframe: - ⚡Wave Structure: The sharp decline from the 99.861 peak to the 98.600 level is calculated as a corrective Wave A (or micro Wave 2) movement. - ⚡Current Status: The impulsive upward surge from the 98.600 low toward 99.331 is currently identified as the formation of Wave B (or a micro Wave 3 impulsive expansion) within a new recovery cycle. - ⚡Projection: Price action is projected to complete this impulsive push by breaking through the immediate resistance at 99.420, then extending the rally to target the 99.861 peak (marked by the green line) before testing the psychological 100.000+ level.