Elliott Wave Analysis

Elliott Wave Live: Can Gold Breakout?Aug 26, 2025

Last week ended in risk-on mode after Powell delivered some dovish remarks, which increased the odds of a potential rate cut in September. This is pushing US yields lower while the dollar is also turning down across the board. Stocks are trying to recover, although the German DAX hasn’t broken out yet, but if the dollar continues to weaken, then sooner or later we can expect European equities to stabilize as well.

From the Elliott Wave perspective, we expect more downside this week on DXY. Key levels to watch is at 97.50 as a resistance and near-term supports near 96.65. IMO bears are expected to stay in control for July low, and if that happens risk-on can resume

For more analysis, check our webinar below where I also looked at bitcoin, ethereum, gold, dax on lot more.

Grega

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GBPUSD: Elliott Wave and H&S Pattern Is Pointing Higher

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