USDOLLAR 1.6% decrease...

FX:USDOLLAR   Dow Jones FXCM Dollar Index
The exchange rate moves in a declining double wave structure. Currently, it is in the correction phase with the axis of the exchange rate ATR axis. On this axis, the rising correction movement is moving. Although apparently now acts against the theory, I assume that the correction movement at this level can be completed and the second decreasing wave structure is built. The target price can be 1200 usd.


The USDollar index and DXY are very complicated because they reference US dollar strength against 6 other currencies. The heaviest part of the geometric weighted mean being 58% against the EURO. I think it's complexity explains why it isn't well correlated with the Dow Jones Industrial Average. But it is still a useful indicator of US Dollar strength. It is however, a very wild thing. I found that it often surprises me how it moves on the Daily time frame. A lot of the time technical indicators say it'll move south with greater probability - and then it does just the opposite.

The US Dollar is still the 'new liquid gold', so it times of crisis it tends to strengthen.
meszaros Captain_Walker
@Captain_Walker, Thank you for your comment. I agree with you. I would like to add that I do not want to figure out the future, but rather to predict more likely movements. Although there is often little difference between the two approaches.
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