USDX trade ideas
Dollar history case studyIts amazing experience to look at Dollar on monthly chart( its first time i looked Monthly chart on Dollar).
All time high of 162
Resistance level 102, 120
Support level :100 ( great physiological No). but i think it will dive below that and hunt for stoploss.
next support level will be 92
lower DXYas we can see the bearish divergence there and bearish engulfing pattern and doji in the overbought condition there this is giving a bearish outlook there
Divergence In Dollar IndexSince Nov 30 dollar index has moved up where as it's 25 day ROC went down. Looking at the chart it seems serious divergence & $ can correct from here against basket of other currencies.
I prefer going long on Euro particular from here.
Divergence in dollar Index.ROC(25 days) shows that up move in the dollar is about to come to an end (at least for next few days) so shorting dollar against Japanese Yen & Euro looks good trade here.
us dollar currency index us dollar currency index have bullish walf wave setup so yellow line take long red line as sl and green line as trg ....
