USDX

Home / Archive by category "USDX"
Tricky non farm data

Tricky non farm data

Todays Non Farm Data would see newbies getting wiped out from the market. Non experience traders would have bought the US Dollar upon seeing a positive 287K increase in NFP compared to the expected 175K. Which is why one see an increase in price action. At the same time, there was a revision as usual…

Continue Reading
Why the clueless lose money in trading

Why the clueless lose money in trading

Just 2 weeks ago the FED Chairlady said “Probably in the coming months such a move would be appropriate.” The move she was referring to was the rate hike. Now as we all know, there are 2 things which the FED is monitoring closely with regards to the possibility of a rate hike Continual improvements in…

Continue Reading
USDX testing support for 6th time

USDX testing support for 6th time

Since my last update on the USDX, price tested 94.61 resistance and came down again. Currently price is slowing moving back to the 93.78 support area. I would be looking at 93.78 support closely to see if buyers are coming in or not. The current support level is the 1 year low area for the…

Continue Reading
USDX at crucial support

USDX at crucial support

The USDX is trading at a crucial support which I gave on April 4th. No buy signal as yet from this level. If price closes strongly below 93.79, then the USDX could tumble to 91.13.  Since the FED sees that the weakening demand abroad and a relatively strong dollar are causing the trade deficit to…

Continue Reading
US Dollar Weakening?

US Dollar Weakening?

Were you awake last nite at 2am to watch the FED interest rate announcement? It is better you don’t. Have quality sleep which is the best as from where I come from, trading the US market needs me to be awake till 5am. I managed my trades by protecting all my open trades and slept…

Continue Reading