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fosking Aug 25, 2011 9:23am | Post# 1

USDX
 
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A lot of traders are referencing the USDX, so thought it should deserve its own thread.

I'm looking for a breakout below the 73,50 level for a continuation of the overall downward trend with resistance around 74,35.

USDX H1
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forexfilms Aug 25, 2011 6:50pm | Post# 2

This is a good possibility but the only thing that could drive this is Bernanke announcing QE3. Anything less will most likely allow USD continuation higher. The only thing really holding USD index back is the high concentration of Euros in the index. Euro fundamentals are horrible.

fosking Aug 26, 2011 3:06am | Post# 3

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Coming down to test support.

USDX M15
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aediaz1 Aug 26, 2011 3:34am | Post# 4

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Good initiative for a thread!

I'm looking at the same scenario. Might be a trend continuation-diamond on the USDX
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Darkst Aug 26, 2011 3:56am | Post# 5

What's more important for EU, USDX or EURX or better choose one of them and trade ?

PipPipPip Aug 26, 2011 3:59am | Post# 6

What's more important for EU, USDX or EURX or better choose one of them and trade ?
both have significance to EURUSD. Futures shows more detailed activity on indicators such as volume compared to spot

fosking Aug 26, 2011 4:30am | Post# 7

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What's more important for EU, USDX or EURX or better choose one of them and trade ?
Hey Darkst!
Here is EUR/USD and the USDX below.
As you can see the correlation is clear and obviously inverse.

EUR/USD
USDX M15
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Darkst Aug 26, 2011 4:58am | Post# 8

As you can see the correlation is clear and obviously inverse.
Thanks for the explanation, i have to USDX enter to my trading, maybe it will be helpful.

USD-Bear Aug 26, 2011 5:02am | Post# 9

1 Attachment(s)
Hey Darkst!
Here is EUR/USD and the USDX below.
As you can see the correlation is clear and obviously inverse.

EUR/USD
USDX M15
Attachment 772070
Hi fosking,
nice idea this thread, somehow I get a clearer picture studying USDX just looking @ horizontal levels on USDX chart.
This is an example which btw fooled me last night
What's your source for USDX, I heard some remarks that the level of forexpro are different from other providers?
FXCM currently has a USDOLLAR in its symbols still have to look for differences which there are....

H1:
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Rom-pom-pom Aug 26, 2011 5:08am | Post# 10

Hey Darkst!
Here is EUR/USD and the USDX below.
As you can see the correlation is clear and obviously inverse.

EUR/USD
USDX M15
Attachment 772070
Of course there's correlation. USDX is a basket of currencies and the eurusd has more than half of the total weight. Here's a quick link http://en.wikipedia.org/wiki/U.S._Dollar_Index for the explaination. The USDX moves with the movement in these currencies as this is an index on them.

fosking Aug 26, 2011 5:17am | Post# 11

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Hi fosking,
nice idea this thread, somehow I get a clearer picture studying USDX just looking @ horizontal levels on USDX chart.
This is an example which btw fooled me last night
What's your source for USDX, I heard some remarks that the level of forexpro are different from other providers?
FXCM currently has a USDOLLAR in its symbols still have to look for differences which there are....

H1:
Attachment 772088
I've tried using USDOLLAR from FXCM but when I compare it next to the USDX, I find TA more accurate on USDX.

FXCM USDOLLAR/USDX H4
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Name: usdollar1.png
Size: 179 KB

fosking Aug 26, 2011 5:35am | Post# 12

2 Attachment(s)
Of course there's correlation. USDX is a basket of currencies and the eurusd has more than half of the total weight. Here's a quick link http://en.wikipedia.org/wiki/U.S._Dollar_Index for the explaination. The USDX moves with the movement in these currencies as this is an index on them.
USDX has many more correlations than just EUR/USD.
Below is AUD/USD (AUD not part of USDX)
and USD/SEK (4.2%). To name just two.
The USD gives a good feel for general market sentiment and is a very powerful tool to use.

AUD/USD
USDX Daily
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Name: aud1.png
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USD/SEK
USDX Daily
Click to Enlarge

Name: sek1.png
Size: 148 KB

Rom-pom-pom Aug 26, 2011 5:46am | Post# 13

USDX has many more correlations than just EUR/USD.
Below is AUD/USD (AUD not part of USDX)
and USD/SEK (4.2%). To name just two.
The USD gives a good feel for general market sentiment and is a very powerful tool to use.

AUD/USD
USDX Daily
Attachment 772104

USD/SEK
USDX Daily
Attachment 772105
of course that everything traded against the dollar will be influenced by the general dollar feel whether bullish or bearish

USD-Bear Aug 26, 2011 5:52am | Post# 14

I've tried using USDOLLAR from FXCM but when I compare it next to the USDX, I find TA more accurate on USDX.

FXCM USDOLLAR/USDX H4
Attachment 772093
yes same impression I've got missing some signals from USDOLLAR which were there within USDX graph.
What's your USDX source, is it freely available?

fosking Aug 26, 2011 5:57am | Post# 15

of course that everything traded against the dollar will be influenced by the general dollar feel whether bullish or bearish
Thank you, that's the point of this thread.
If you can analyze the USD (USDX helps as it's against a basket of currencies although not equally weighted, or you could use the new USDOLLAR from FXCM and Dow Jones which is equally weighted against the EUR/GBP/JPY/AUD) it gives a clear sentiment for the USD. Which as you say, affects all USD pairs.

fosking Aug 26, 2011 6:04am | Post# 16

yes same impression I've got missing some signals from USDOLLAR which were there within USDX graph.
What's your USDX source, is it freely available?
I use a site called fxcodebase which has loads of indicators for FXCM.
Here is the USDX (last post in the thread).
http://fxcodebase.com/code/viewtopic...it=usdx#p12985

realjumper Aug 26, 2011 6:08am | Post# 17

I use a site called fxcodebase which has loads of indicators for FXCM.
Here is the USDX (last post in the thread).
http://fxcodebase.com/code/viewtopic...it=usdx#p12985
I use Netdania for USDX and whole host of other things

USD-Bear Aug 26, 2011 6:16am | Post# 18

I use a site called fxcodebase which has loads of indicators for FXCM.
Here is the USDX (last post in the thread).
http://fxcodebase.com/code/viewtopic...it=usdx#p12985
looks great, thanks a lot

fosking Aug 26, 2011 6:18am | Post# 19

I use Netdania for USDX and whole host of other things
Thanks realjumper, I'll check it out.

fosking Aug 26, 2011 9:57am | Post# 20

1 Attachment(s)
Coming down to test support.

USDX M15
Click to Enlarge

Name: usdx3.png
Size: 96 KB


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