If you are looking for a way to tell the strength or weakness in the dollar against other currencies, one of your go-to areas should be the DXY CHART.
Impeccable Right? It has by far become easier trading the dollar base and quotes by simply anticipating what the DXY would do next.
Over a period, the DXY has been dripping down giving away the weakness in the dollar and we must have seen by now, how the XXXUSD pairs have been bullish
whereas the USDXXX pairs have been majorly bearish.
Now I am thinking it is time for a change. I see what the DXY i doing and it will interest me to tell you that in the coming weeks, we may see trends falling back in place.
UNLESS OFCOURSE WE HAVE A BREAK DOWN, THEN WE HAVE A DIFFENT STORY TO TELL.
NB;This is not a financial advice or signal to trade. This is solely educative. Use the information above at your own risk.
Impeccable Right? It has by far become easier trading the dollar base and quotes by simply anticipating what the DXY would do next.
Over a period, the DXY has been dripping down giving away the weakness in the dollar and we must have seen by now, how the XXXUSD pairs have been bullish
whereas the USDXXX pairs have been majorly bearish.
Now I am thinking it is time for a change. I see what the DXY i doing and it will interest me to tell you that in the coming weeks, we may see trends falling back in place.
UNLESS OFCOURSE WE HAVE A BREAK DOWN, THEN WE HAVE A DIFFENT STORY TO TELL.
NB;This is not a financial advice or signal to trade. This is solely educative. Use the information above at your own risk.