Dollar Index (DXY) Progressing Toward Final Stages of Wave 5 The Dollar Index (DXY) continues to unfold from the September 2022 peak as a five‑wave cycle, with the structure now approaching the conclusion of wave ((5)). Wave ((4)) of this impulse move ended at 100.395 on November 21, 2025, after which the Dollar resumed its decline. The Index currently displays only a clear three‑swing sequence down from the November 21 high, which strongly suggests that the downside remains incomplete. From wave ((4)), wave 1 terminated at 97.75, while wave 2 retraced higher to 99.53, as reflected in the one‑hour chart. The Index then resumed lower in wave 3. Within wave 3, wave ((i)) ended at 98.24, followed by a rally in wave ((ii)) that peaked at 98.86. The decline continued with wave ((iii)) reac