DXY or USD Index is a indicator of performance of USD against a basket of other foreign exchange currencies.
We have applied Dow theory to the index chart as can be seen above and it indicates that currently levels are key on the future direction of the DXY.
Currently the DXY is in downtrend and if a key level of 104.678 is broken then we can have a upward trend at our hands.
DXY is a beautiful amalgamation of technical and fundamental analysis.
This index cast the future of all the currencies, commodities and stocks paired against USD.
One's analysis of the predicting the future of any instrument paired against USD is incomplete without analyzing the DXY first.
We have applied Dow theory to the index chart as can be seen above and it indicates that currently levels are key on the future direction of the DXY.
Currently the DXY is in downtrend and if a key level of 104.678 is broken then we can have a upward trend at our hands.
DXY is a beautiful amalgamation of technical and fundamental analysis.
This index cast the future of all the currencies, commodities and stocks paired against USD.
One's analysis of the predicting the future of any instrument paired against USD is incomplete without analyzing the DXY first.