USDOLLAR testing a bullish trend line at start of week

FX:USDOLLAR   Dow Jones FXCM Dollar Index
The chart speaks for itself. The Dow Jones-FXCM US Dollar Index             might try bouncing here at the start of the week ahead of US retail sales data on Wednesday. Without this trend line , prices are really in the middle of a range, meaning that anything can happen here depending on this weeks economic data.
Love your posts. What is the difference between DXY and USDOLLAR?
+1 Reply
AdrianRaymondFX huntingsniper
Thanks! The USDOLLAR (or "Dow Jones-FXCM US Dollar Index") is composed of a basket of currencies, each having equal weighting: EUR, JPY, GBP, AUD.
The DXY is composed of the following:

EUR: 57.6%
JPY: 13.6%
GBP: 11.9%
CAD: 9.1%
SEK: 4.2%
CHF: 3.6%

As you can see, the DXY gives an overwhelming weight to European currencies.
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