The Euro Currency Index (EUR_I) represents the arithmetic ratio of four major currencies against the Euro: US Dollar, British Pound, Japanese Yen and Swiss Franc. All ratios are expressed in units of currency per Euro. The index was launched in 2004 by the exchange portal Stooq.com. Underlying are 100 points on 4 January 1971. Before the introduction of the...
good mood and profitable trades ! 💲
In the 1h chart we can see a negative correlation between DXY and EXY.
While DXY broke out of the falling wedge with a nice kick, we saw EXY break out of the rising wedge.
In the Dollar index I see a nice bottom formation with HLs and a HH. In the Euro Index we can see a top formation with LLs and LH !