Loii
Short

perfect bear channel

TVC:DXY   US Dollar Currency Index
275 12 9
perfect bear channel
I think no celling right now... So probably continue to upwards... If the fed keep the rates they didn't unchanged 0.5% dollar shooting up then might broke at 95.xx...
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Loii Sakakikunmakio
usd/dxy will only shoot up if fed raise rates not if they leave it unchanged. not sure how you justify a bull if rate is left unchanged?
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Loii Loii
there is no way there will be any rate hike with such low nfp. u have to wait till july for the next nfp to see where rates might be going.
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Check previous decision rate... After release price action immediately shooting up...
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Loii Sakakikunmakio
on april 28th dxy dropped after rate announcement and bottomed on may the 3rd. not sure what chart you're looking at bro.
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Loii Loii
not much correlation if rate is on hold, its usually just market sentiment and technicals. however if there is a rate raise or drop then there will be definitive moves on dxy.
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Coz previous many bad data after fomc 28 April... So didn't supported to uptrend
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Loii Sakakikunmakio
dude nfp and other data has no correlation, i seen nfp give positive and negative effects on dxy. if u trade long enough u should know this! i been trading for 10 years. good nfp does not necessary move dxy up. its purely based on market sentiment.
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Raising rates isn't the only thing that drives DXY up. Risk off theme is also very powerful and that has been driving it up over the last few days.
snapshot
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CFDTradingo PRO CFDTradingo
http://money.cnn.com/data/fear-and-greed/ !!
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Loii CFDTradingo
that looks like a bearish channel for and and we already bounced of the top.
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Y DXY KEEP RISING SIRS??? LOL
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