U.S. Dollar IndexShort
DXY - And why is it important?
DXY shows us the overall strength of the US Dollar. So as this is pushing up you should see the US pairs pushing with the dollar. Likewise when DXY is pushing down you should go against the dollar.
So if I'm looking at GBPUSD and DXY is pushing up i wouldn't be looking at placing any buys. Like wise if i see something on the chart i will look at DXY for any confluence. Currently i'm looking at a GBPUSD trade and going off what i see with this current DXY chart i am looking to place a buy on the pair and see a short run up.
Look out for my GU setup!
So if I'm looking at GBPUSD and DXY is pushing up i wouldn't be looking at placing any buys. Like wise if i see something on the chart i will look at DXY for any confluence. Currently i'm looking at a GBPUSD trade and going off what i see with this current DXY chart i am looking to place a buy on the pair and see a short run up.
Look out for my GU setup!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.