US Dollar Index - DX

[acetrader]

The DX for example, when it was at the trend line, i was alert for a potential trend change on the other pairs. Some of the other pairs had no support/resistance that was obvious, the DX can provide an idea where trends may stall, or resume.
Cheers,
CanOz

Just the opposite for me. It may sounds crazy or stupid but it is true. I trade EUR/USD and some AUD/USD, but never refer to the US Dollar Index except for the first few months of my forex trading.

Simpler is better. Since the the index is derived from those pairs I will watch closely what I'm trading and find my hints there. I have same opinion towards indicators. the less the better. no macd, no rsi, no bb just price bar and S/R lines. I'm not sure if my way is the best way of trading but I'm sure it is profitable and something I can understand.

 

[CanOz]

Heres a 1 Hr chart of the DXH9, is that a H&S pattern i see?

Cheers,


CanOz

 

[CanOz]

The DX is into quite a rebound. Risk is being averted again.

To me, a bear market rallies on Monday and falls on Friday....is this another bear market rally faltering now? Speaking in terms of the equity markets and their impact on currencies.

CanOz

 

[Whiskers]

Quite a few H&S's on the DX Can.

I got a little one on the 5 min... should hold it up just about long enough for my AUDUSD to reach it's target.

 

[BentRod]

DXY looks like it is coiling on the 4H.

I have an upside bias but don't like how it is sitting underneath the highs, would look better for a break if sitting on top IMO.

Seems like another interesting week ahead whichever way it breaks.

 

[Whiskers]

I'm leaning towards the south Bent Rod.

Haven't long tuned in to my charts... it's zig zaging down a bit the last hour or so, but I wouldn't be surprised if it whipsawed up a bit sometime soon before plunging south.

 

[CanOz]

Wouldn't you just love to witness a total breakdown of the DX? Huuumph, i don't think so...looking for a bounce but still long the EUR.

Cheers,


CanOz

 

[CanOz]

If this isn't a mass exit of the dollar then what is?

 

[sinner]

Wouldn't you just love to witness a total breakdown of the DX? Huuumph, i don't think so...looking for a bounce but still long the EUR.

So in the end you got your wish :

88 was strong resistance and a breakdown from this point does not signify good things for the USD as it was the chance for it to break the longer term trend by making a higher high. Instead it made a (just) lower high.

My target is still 82 then 90, but those are some big moves to call while there is yet to be a higher high and we can only wait and see!

200EMA has turned up finally and the MACD which I mentioned in my last long term look on this thread looks very close to generating a buy signal, however if it does not cross the trigger this would be very very bearish.

 

[Stormin_Norman]

bank failures in america should help push it down a bit.

and the bond bubble busting.

and the fed printing money.

and the zodiac signs.

 

[BentRod]

Couldn't help but notice those gap fills with that price action Last Friday.

USDX looks like it filled to the pip on my charts.

 

[>Apocalypto<]

Dollar Index 4hour.......

I am seeing a small counter trend patter developing...

we have a bottom section creeping trend turn into the range we have now. This range has had two tests of the low completed. Forming a double bottom / higher low.

I see based of this a rally to, short target first yellow bow with a further target the second yellow box, that is little extended. I favor the mid area of these boxes with a resumption of the down trend.

If it breaks down off the current point then the idea is not valid any more.

cheers

 

[Lucky_Country]

How low can the USD actually sink to ?

The strenght in the dollar has perplexed me surely it cant last and commodities will run on the downward spiral !

 

[Stormin_Norman]

How low can the USD actually sink to ?

The strenght in the dollar has perplexed me surely it cant last and commodities will run on the downward spiral !

i think itll tail off as bond prices fall and the treasury starts selling to the fed (ie printing money).

watch gold if that happens.

btw, disappointing against spurs.

 

[>Apocalypto<]

Dollar Index 4hour.......

I am seeing a small counter trend patter developing...

we have a bottom section creeping trend turn into the range we have now. This range has had two tests of the low completed. Forming a double bottom / higher low.

I see based of this a rally to, short target first yellow bow with a further target the second yellow box, that is little extended. I favor the mid area of these boxes with a resumption of the down trend.

If it breaks down off the current point then the idea is not valid any more.

cheers

I got that really wrong!

 

[Stormin_Norman]

well printing money does throw a spanner in the works of how things are meant to work.

 

[sinner]

Hi guys,

Back with another long term USDX chart.

I already posted this but either a mod deleted it without telling me or my computer told me it posted without posting!

There is a negative divergence on the weekly USDX. The bounce off 200MA is bullish, admittedly.

This index managed to make a higher high (green line broken) on the weekly close but neither the RSI or 12,26,9 MACD managed to confirm this high.

Please see the below chart, comments appreciated.

 

[CanOz]

Looks good to me Sinner, love bearish divergence. Roll over you Bit**!

Good for mining stocks too!

Cheers,



CanOz

 

[sinner]

Well, she certainly rolled over!

Here is the next long term chart. Using this chart as an indicator for EU,GBP,AUD pairs and trading higher TF has been good, lots of whipsawing on the shorter.

Mostly ranging this week as you can see from the final candle.

Let's get this fiasco over and done with.

 

[explod]

Well, she certainly rolled over!

Here is the next long term chart. Using this chart as an indicator for EU,GBP,AUD pairs and trading higher TF has been good, lots of whipsawing on the shorter.

Mostly ranging this week as you can see from the final candle.

Let's get this fiasco over and done with.

Looking very bearish now, double head and shoulders down to 72 a maybe a fair possibilty ??