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USDX

  • #1
  • First Post: Aug 25, 2011 8:23am Aug 25, 2011 8:23am
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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  • #2
  • Aug 25, 2011 5:50pm Aug 25, 2011 5:50pm
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.
  • #3
  • Aug 26, 2011 2:06am Aug 26, 2011 2:06am
Coming down to test support.

USDX M15
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  • #4
  • Aug 26, 2011 2:34am Aug 26, 2011 2:34am
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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  • #5
  • Aug 26, 2011 2:56am Aug 26, 2011 2:56am
What's more important for EU, USDX or EURX or better choose one of them and trade ?
  • #6
  • Edited 3:46am Aug 26, 2011 2:59am | Edited 3:46am
Quoting Darkst
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
  • #7
  • Aug 26, 2011 3:30am Aug 26, 2011 3:30am
Quoting Darkst
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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  • #8
  • Aug 26, 2011 3:58am Aug 26, 2011 3:58am
Quoting fosking
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.
  • #9
  • Aug 26, 2011 4:02am Aug 26, 2011 4:02am
Quoting fosking
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
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
  • #10
  • Aug 26, 2011 4:08am Aug 26, 2011 4:08am
Quoting fosking
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
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.
  • #11
  • Aug 26, 2011 4:17am Aug 26, 2011 4:17am
Quoting USD-Bear
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
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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  • #12
  • Aug 26, 2011 4:35am Aug 26, 2011 4:35am
Quoting Rom-pom-pom
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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USD/SEK
USDX Daily
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  • #13
  • Aug 26, 2011 4:46am Aug 26, 2011 4:46am
Quoting fosking
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

USD/SEK
USDX Daily
Attachment
of course that everything traded against the dollar will be influenced by the general dollar feel whether bullish or bearish
  • #14
  • Aug 26, 2011 4:52am Aug 26, 2011 4:52am
Quoting fosking
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
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
  • #15
  • Aug 26, 2011 4:57am Aug 26, 2011 4:57am
Quoting Rom-pom-pom
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.
  • #16
  • Aug 26, 2011 5:04am Aug 26, 2011 5:04am
Quoting USD-Bear
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
  • #17
  • Aug 26, 2011 5:08am Aug 26, 2011 5:08am
Quoting fosking
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
Doing what you like is Freedom. Liking what you do is Happiness.
  • #18
  • Aug 26, 2011 5:16am Aug 26, 2011 5:16am
Quoting fosking
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
Don't be a hero. Don't have an ego. Always question yourself
  • #19
  • Aug 26, 2011 5:18am Aug 26, 2011 5:18am
Quoting realjumper
I use Netdania for USDX and whole host of other things
Thanks realjumper, I'll check it out.
  • #20
  • Aug 26, 2011 8:57am Aug 26, 2011 8:57am
Coming down to test support.

USDX M15
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