DXY Likely to Head Higher

The dollar index is likely to head higher in the coming months. Because this is a monthly chart, we could definitely see some movement down on lower timeframes and still reach higher levels on the high timeframe chart.

The Elliott Wave pivot indicator shows several flips of the lower degree marked by blue circles. This suggests to me a corrective move rather than a move that is trending in strong fashion. We should see an impulse of the higher degree, marked in black, once the corrective move completes.