The Dollar Index in the crosshairs

[fxstrategist]

The Dollar index accelerates its volatility during today’s session after the mid-term elections in the US. On the daily chart of the index we can see that the actual daily candle is in the shape of a doji with long shadows. That Japanese candlestick formation is an indication of high volatility, but too much indecision, due to the fact that the price has closed at the same opening level. The Dollar index could find a resistance at the 96.00 level and a support at the 55 day EMA, which is currently at the 95.31 level. Below the 55 day EMA, the 95.00 level could also act as support. But the most relevant support area is at the 94.00 level where the 200 day EMA is crossing by.

 

[NVP]

heres my G8 index meter (FXCORRELATOR) ....set off of 24th July base like above

I use this to trade from 1 min scalping to daily positions....trading it since early 2000s

the green usd is bull/rangy....current down swing from late Oct highs .....i see another 50 pips of slippage before im gonna look for rebuys .....until then im selling USD into the downswing

yellow yen and Blue Euro are the bear sells as well

Brown Cad is due a bounce north .....and red GBP is bull comer ........

cheers
N

 

[hatemypips]

Have you try a clean forex chart? It's more easy to see the price movement.

Hint: You don't need to watch charts if you trade with robots. Future is after robots there won't be a tiny space for traders who trade manually.

 

[NVP]

Hint: You don't need to watch charts if you trade with robots. Future is after robots there won't be a tiny space for traders who trade manually.

more hints ....there will always be traders ......Robots are predictable ....thats the problem

 

[NVP]

Have you try a clean forex chart? It's more easy to see the price movement.

ok show me a clean forex chart that plots the movement of all the G8 currencies at once

 

[hatemypips]

ok show me a clean forex chart that plots the movement of all the G8 currencies at once

Sure, simply take DXY trade-weighted index

 

[NVP]

Sure, simply take DXY trade-weighted index

umm.....how am i seeing 8 seperate currencies ?....surely that just shows a relatively skewed version of the usd index.....?

that sounds just 1 currency?

N