Description
⋅ Here we look at how the Euro makes up 60% of the U.S Dollar index and how historically the moves in EUR/USD drives the performance of the DXY.
EUR/USD is just under the key resistance level $1.20 as the DXY is sitting at a key support level 92.00.
A firm brak above £1.20 in EUR/USD will be the catalyst for the DXY to break below 92.00.
This offers us two trades in one as soon as EUR/USD breaks above the key technical resistance level.
We look at entry price strategies and one-month ATR stop loss.