SteveNixon

Dollar Index looks short this week

Short
TVC:DXY   U.S. Dollar Index
22
I don't trade the index but I do use it as an indicator of what may happen in the Dollar pairs.
These pairs USDJPY, USDCHF USDCAD will tend to move in the same direction as the index.
While these pairs AUDUSD, EURUSD, GBPUSD, NZDUSD will tend to move in the opposite direction as the index

This is especially useful if a particular pair looks indeterminate.

This week the dollar index looks like it is about to continue short once the current correction ends.

Hope this helps
Steve

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