Hello fam,
Wondering why I said so, well check this out.
I use the dollar index to get my direction/strength of the dollar. Then use it to determine how I trade the major currencies. Even though the dollar's bullish phase is ending, I still did my analysis on this pair and saw the same thing.
Now it is a known fact that the dollar index and eurusd are inversely correlated but I'm not sure I will even place my buy limit order on this pair because it is at a place of high demand - it might not complete the bearish move before it reverse.
Anyways, that's all I can say. What's your take?
Wondering why I said so, well check this out.
I use the dollar index to get my direction/strength of the dollar. Then use it to determine how I trade the major currencies. Even though the dollar's bullish phase is ending, I still did my analysis on this pair and saw the same thing.
Now it is a known fact that the dollar index and eurusd are inversely correlated but I'm not sure I will even place my buy limit order on this pair because it is at a place of high demand - it might not complete the bearish move before it reverse.
Anyways, that's all I can say. What's your take?
