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Elliott Wave: Is the Dollar's Bear Run Nearing Exhaustion? Watch These Signs For Stabilization - ForexAnalytix - Blog
The dollar index has recently seen a sharp decline, losing more than 10% from the January 2025 highs, which is a significant move in a relatively short period. Looking at the current price action, it's important to consider sentiment; when it reaches an extreme, a shift is often near. The chart below shows the current drop is coming from the same black resistance line that triggered a reversal at the end of 2024. Back then, sentiment was heavily bearish—especially on EURUSD—and a reversal followed. It now appears sentiment may again be reaching a similar extreme.