DislikedHello,
is anyone here using the Dollar Index for additional insight into EUR/USD movements? I see it almost as a inverted EUR/USD chart, but many news sources are referring to it. You can check it out on http://stockcharts.com/h-sc/ui?s=$USD&p=D&yr=1&mn=0&dy=0&id=p32238137118
Based on this chart, it was expected at the $77 level for the USD to hit some resistance, while on on the EUR/USD chart it is not so clear - except for the weekly trendline and based on my previous post (channels).
So, what do you think - is it useful to study the Dollar Index chart?
Based on the current chart, the USD could fall to the $75,5 mark and then the EUR would hit a temp resistance level.
Anyway, just some thoughts.Ignored
Yes, the dollar index is useful, the problem is that live updated charts are not free I dont think, so unless you pay for the charts your information is lagging...(correct me if Im wrong) take care, Raz
Never say never.