Something to keep in mind when trading currency is how other instruments are tied to currencies, such Oil and the DOW, and how these all interact. In this case you can see how a drop in the EUR/USD saw an INVERSE play on the Dollar Index Futures. Where the US Dollar index dropped and found support on the 20-SMA, conversely you see the 20-SMA acting as resistance on the EUR/USD.
Understanding these relationships can help you to predict or anticipate possible movements.
Cheers!
Understanding these relationships can help you to predict or anticipate possible movements.
Cheers!
