Dollar Index Still in Bearish MovementU.S. Dollar Currency IndexTVC:DXYNouzTrader✅ Market Structure Shift (MSS) & Liquidity Sweep: The H4 chart shows a very aggressive vertical decline from the local peak (~101,600) to sweep liquidity below 99,585. This sharp decline broke through the previous Higher Low, technically confirming a change in market character (ChoCh) toward a medium-term bearish structure. ✅ Current Price Action: Although selling pressure dominated the previous candles, the last H4 candle to touch the lower area recorded a long lower wick. This indicates buying absorption from the market as the price entered the Major Demand Zone (bottom gray box). ✅ Key Zones: - Resistance / Supply Zone (SBR): Range 100,100 - 100,250 (The middle gray box, which previously acted as support, has now become the main Support-Become-Resistance / SBR area). - Support/Demand Zone: Range 99,200 - 99,500 (Lower gray box/historical Major Demand Zone). --------------------------------------------------------------------------------------------------------- ✅ Elliott Wave Analysis If we map the wave movement on the H4 timeframe on this chart: - Wave Structure: The sharp decline from the 101,600 range to the 99,500 level is calculated as an impulsive movement of Wave 1 or a large-scale corrective Wave A. - Current Status: A minor rebound with a long lower wick from the 99,400s towards 99,793 is identified as the beginning of Wave 2 or Wave B (Corrective Wave). - Projection: In theory, after experiencing a very long decline and triggering oversold conditions (oversold on the lower indicator), the market requires an upward correction phase (relief rally/pullback) to retest the breakout area before continuing with the next impulsive impulse (Wave 3/Wave C down).