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just in addition to analysis done on the DXY possible pattern forming could we see a repeat or bettered results with the eur in the days to come?
GBPUSD lagging behind currently but with brexit ongoing we could be waiting longer for any swing in direction right now
We saw a slight retracement in the DXY recently, and then a big rally and some cooling off. its met levels of resistance around the 95.50 area. can we see another slide down the chart for the dollar again. this could mean good set up for the corresponding pairs especially EURUSD and gold looking to bounce back also.
with the current affairs on the news regard the next step with brexit its crunch time. Big drop off from earlier this month on cable, plunging down to oversold levels via the RSI. On the flip side the dollar has been having recent success with the bull run but that looks to be running out of steam. I think there is key levels to watch out for before going long on ...
the dxy has been bearish for a while now after previous weeks, now reaching oversold levels coupled with the news coming out later could this be a turning point for the index i think so.
I've been watching this and the DXY lately and now the gbp has reached overbought levels via the RSI indicator, i know its not set in stone but its a good indication to start looking for short entry points for the cable. Big important news today could support this further and strengthen the us dollar.
going along with the analysis on the index ill be waiting for a confirmation so i can go long on GBP
After reaching 'oversold' levels via the RSI recently the index has had a big rally back up to a level of some resistance, can the buyers push some more or have they run out of steam? these are levels to watch as im planning entry for long positions in GBPUSD & EURUSD
The US dollar index is retracing from a recent slide down the chart. The London markets have just opened, waiting to see if the New York markets will continue to push it up. Meaning a slight turn in short term trend but still a bullish trend for cable. My 7 EMA has took a turn down towards the 14 EMA but my 50 EMA is still bullish.
I have been following the US index since i discovered it and it has helped me plan and execute my trades in GBP/USD, EUR/USD, USD/CAD. just following the simple patterns over time has become easier with this set up. I am a beginner and any input would be welcome to help me and other beginners analyse that bit better