The DXY is currently undergoing the retest phase of the break out from the neckline. From here I am expecting price to decline further to the 96.00 level signalling weakness in the Dollar.
possible dxy retest which will definitely affect the signals I sent previously (eurusd, usdjpy and nzdusd)
if you took the trades; close them and wait to see how the dxy plays out
!!! - Priority
DXY deep fib retracement. We could see the dollar gain strength as it's pulling back, However as soon as we see a reversal pattern form between 97-98 we could see the dollar start weakening.
daily closure left clues for a possible wick fill that could occur, 4hr PA suggesting AB=CD (c-leg @96.21) needs to get completed with a possible D-leg @97.10, but an imminent pullback to recently broken resistance zone of 96.5 had to first come to pass to fulfill the markets predominant wavy motion. this pullback has hinted out another ab=cd move on a lower tf...
The DXY being weighted as follows:
EUR - 57.6%
JPY - 13.6 %
GBP - 11.9%
CAD - 9.1%
SEK - 4.2%
CHF - 3.6%
As you may imagine, there's a lot more interest in using the DXY for a correlation / confluence tool when trading the EURUSD . The EURO equates to over half of the overall weight of the index, meaning there's a majority interest in the EUR vs USD.
We...
Continuing with another episode of Multi-Timeframe Analysis Series 1, I'd like to break down the DXY.
The DXY being weighted as follows:
EUR - 57.6%
JPY - 13.6 %
GBP - 11.9%
CAD - 9.1%
SEK - 4.2%
CHF - 3.6%
As you may imagine, there's a lot more interest in using the DXY for a correlation / confluence tool when trading the EURUSD. The EURO equates to over half...
The U.S. Dollar Index tracks the strength of the dollar against a basket of major currencies. (DXY) originally was developed by the U.S. Federal Reserve in 1973 to provide an external bilateral trade-weighted average value of the U.S. dollar against global currencies. U.S. Dollar Index goes up when the U.S. dollar gains "strength" (value), compared to other currencies. The following six currencies are used to calculate the index:
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DXY
