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  • Post #1
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  • First Post: Aug 25, 2011 9:23am Aug 25, 2011 9:23am
  •  fosking
  • Joined Nov 2009 | Status: ŻŻŻŻŻŻŻŻŻŻ | 1,339 Posts
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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  • Post #2
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  • Aug 25, 2011 6:50pm Aug 25, 2011 6:50pm
  •  forexfilms
  • | Joined May 2011 | Status: Member | 6 Posts
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.
 
 
  • Post #3
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  • Aug 26, 2011 3:06am Aug 26, 2011 3:06am
  •  fosking
  • Joined Nov 2009 | Status: ŻŻŻŻŻŻŻŻŻŻ | 1,339 Posts
Coming down to test support.

USDX M15
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Name: USDX1.png
Size: 89 KB
 
 
  • Post #4
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  • Aug 26, 2011 3:34am Aug 26, 2011 3:34am
  •  aediaz1
  • Joined Aug 2007 | Status: Member | 3,135 Posts
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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Measure twice, cut once
 
 
  • Post #5
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  • Aug 26, 2011 3:56am Aug 26, 2011 3:56am
  •  Darkst
  • | Joined Jul 2010 | Status: Member | 9 Posts
What's more important for EU, USDX or EURX or better choose one of them and trade ?
 
 
  • Post #6
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  • Edited 4:46am Aug 26, 2011 3:59am | Edited 4:46am
  •  PipPipPip
  • | Joined Jan 2009 | Status: Member | 1,259 Posts
Quoting Darkst
Disliked
What's more important for EU, USDX or EURX or better choose one of them and trade ?
Ignored
both have significance to EURUSD. Futures shows more detailed activity on indicators such as volume compared to spot
 
 
  • Post #7
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  • Aug 26, 2011 4:30am Aug 26, 2011 4:30am
  •  fosking
  • Joined Nov 2009 | Status: ŻŻŻŻŻŻŻŻŻŻ | 1,339 Posts
Quoting Darkst
Disliked
What's more important for EU, USDX or EURX or better choose one of them and trade ?
Ignored
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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Name: usdx2.png
Size: 104 KB
 
 
  • Post #8
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  • Aug 26, 2011 4:58am Aug 26, 2011 4:58am
  •  Darkst
  • | Joined Jul 2010 | Status: Member | 9 Posts
Quoting fosking
Disliked
As you can see the correlation is clear and obviously inverse.
Ignored
Thanks for the explanation, i have to USDX enter to my trading, maybe it will be helpful.
 
 
  • Post #9
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  • Aug 26, 2011 5:02am Aug 26, 2011 5:02am
  •  USD-Bear
  • Joined May 2009 | Status: User of Geppy patience pills | 7,645 Posts
Quoting fosking
Disliked
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
Ignored
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:
Attached Image
Don't be a hero. Don't have an ego. Always question yourself
 
 
  • Post #10
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  • Aug 26, 2011 5:08am Aug 26, 2011 5:08am
  •  Rom-pom-pom
  • | Joined Jul 2011 | Status: Trader | 78 Posts
Quoting fosking
Disliked
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
Ignored
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.
 
 
  • Post #11
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  • Aug 26, 2011 5:17am Aug 26, 2011 5:17am
  •  fosking
  • Joined Nov 2009 | Status: ŻŻŻŻŻŻŻŻŻŻ | 1,339 Posts
Quoting USD-Bear
Disliked
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
Ignored
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
 
 
  • Post #12
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  • Aug 26, 2011 5:35am Aug 26, 2011 5:35am
  •  fosking
  • Joined Nov 2009 | Status: ŻŻŻŻŻŻŻŻŻŻ | 1,339 Posts
Quoting Rom-pom-pom
Disliked
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.
Ignored
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
Size: 152 KB


USD/SEK
USDX Daily
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Name: sek1.png
Size: 148 KB
 
 
  • Post #13
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  • Aug 26, 2011 5:46am Aug 26, 2011 5:46am
  •  Rom-pom-pom
  • | Joined Jul 2011 | Status: Trader | 78 Posts
Quoting fosking
Disliked
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
Ignored
of course that everything traded against the dollar will be influenced by the general dollar feel whether bullish or bearish
 
 
  • Post #14
  • Quote
  • Aug 26, 2011 5:52am Aug 26, 2011 5:52am
  •  USD-Bear
  • Joined May 2009 | Status: User of Geppy patience pills | 7,645 Posts
Quoting fosking
Disliked
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
Ignored
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?
Don't be a hero. Don't have an ego. Always question yourself
 
 
  • Post #15
  • Quote
  • Aug 26, 2011 5:57am Aug 26, 2011 5:57am
  •  fosking
  • Joined Nov 2009 | Status: ŻŻŻŻŻŻŻŻŻŻ | 1,339 Posts
Quoting Rom-pom-pom
Disliked
of course that everything traded against the dollar will be influenced by the general dollar feel whether bullish or bearish
Ignored
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.
 
 
  • Post #16
  • Quote
  • Aug 26, 2011 6:04am Aug 26, 2011 6:04am
  •  fosking
  • Joined Nov 2009 | Status: ŻŻŻŻŻŻŻŻŻŻ | 1,339 Posts
Quoting USD-Bear
Disliked
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?
Ignored
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
 
 
  • Post #17
  • Quote
  • Aug 26, 2011 6:08am Aug 26, 2011 6:08am
  •  realjumper
  • Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
Quoting fosking
Disliked
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
Ignored
I use Netdania for USDX and whole host of other things
Doing what you like is Freedom. Liking what you do is Happiness.
 
 
  • Post #18
  • Quote
  • Aug 26, 2011 6:16am Aug 26, 2011 6:16am
  •  USD-Bear
  • Joined May 2009 | Status: User of Geppy patience pills | 7,645 Posts
Quoting fosking
Disliked
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
Ignored
looks great, thanks a lot
Don't be a hero. Don't have an ego. Always question yourself
 
 
  • Post #19
  • Quote
  • Aug 26, 2011 6:18am Aug 26, 2011 6:18am
  •  fosking
  • Joined Nov 2009 | Status: ŻŻŻŻŻŻŻŻŻŻ | 1,339 Posts
Quoting realjumper
Disliked
I use Netdania for USDX and whole host of other things
Ignored
Thanks realjumper, I'll check it out.
 
 
  • Post #20
  • Quote
  • Aug 26, 2011 9:57am Aug 26, 2011 9:57am
  •  fosking
  • Joined Nov 2009 | Status: ŻŻŻŻŻŻŻŻŻŻ | 1,339 Posts
Coming down to test support.

USDX M15
Attached Image (click to enlarge)
Click to Enlarge

Name: usdx3.png
Size: 96 KB
 
 
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