US dollar Index

I always have a look at this index when trading against the dollar. This give you the overall picture of the US Dollar against all other currency.
Short term it looks like the dollar has broken a short term trend line which could mean its going to test the neck line on a head and shoulders pattern which is pretty big.
So if your betting on the dollar to be the stronger pair then be careful .





dyor

Dollar's gonna tumble for sure ......

Another good reason to buy gold which is an anti-dollar play, and looks set to keep rising IMO.

I wonder if decent Non-Farm Payroll numbers would help ease the pressure on the Dollar Index...

I've always found this catch-22 situation somewhat odd. In theory, Good job numbers imply strengthening US Economy, thus a stronger dollar. Bad numbers indicate a market sell-off (and subsequently running to the USD for dollar); but, then there's the Fed!

(Sigh)

GFT Markets reckon its downhill from here!

(Chart courtesy of GFT Markets)

Hi libero
Your chart is not of the US Dollar index???
Out of curiosity whos that chart of as its a nice head and shoulders. I would look to short that chart if possible

Libero wrote: I wonder if decent Non-Farm Payroll numbers would help ease the pressure on the Dollar Index...

I've always found this catch-22 situation somewhat odd. In theory, Good job numbers imply strengthening US Economy, thus a stronger dollar. Bad numbers indicate a market sell-off (and subsequently running to the USD for dollar); but, then there's the Fed!

(Sigh)

GFT Markets reckon its downhill from here!

(Chart courtesy of GFT Markets)

Hi Remo,

it was a snap-shot from GFT, will find the source...

I've done a quick check (using a crude chart tool), and on the weekly, it looks like the $index - what do you reckon?