Toniroi

Analysis on AUDUSD and DXY

FX:AUDUSD   Australian Dollar / U.S. Dollar
I don't trade with indicators but I use the DXY as my Indicator , There was a swing high on DXY in March which was taken but the swing low on the AUDUSD was not taking indicating a crack in correlation and also indicating that foreign currencies are not willing to go lower but in this case am using the AUDUSD to represent Foreign currencies . the GBP AND EUR took out their lows but looking at the COT , Institutions are reducing their shorts on the EUR and GBP but increasing their Long positions. We like to trade in the direction of the institutions since they are right most of the times.

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