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What is US dollar index (DXY)? Dollar Index History DXY began in March 1973, shortly after the Bretton Woods system collapsed. Initially, the value of the US Dollar Index was set at 100,000. Since then, the index has peaked at 164.7200 in February 1985 and hit a low of 70,698 on March 16, 2008, and is currently trading at 103.715. The arrangement of the "basket" took place only once, at the beginning of 1999, when the euro included several currencies. The arrangement of the "basket" does not yet include countries with high trade volumes, such as China, Mexico, South Korea and Brazil. On the other hand, although Sweden and Switzerland do not have large trade volumes, they continue to be included in the index. What is the Dollar Index? The US Dollar Index (USDX, DXY) is an indicator of the value of the US Dollar against foreign currencies. It is also referred to as a money basket by US trading partners. The index is designed, maintained, and published by ICE Futures and. It is also registered with the name "U.S Dollar Index". How Is The Dollar Index Calculated? The dollar index is calculated by the weighted geometric average of the Euro, Japanese Yen, British Pound, Canadian Dollar, Swedish Krona and Swiss Franc. ✅Euro (EUR)= 57.6% by weight ✅Japanese Yen (JPY) = 13.6 weight ✅British Pound (GBP) = 11.9% by weight ✅Canadian Dollar (CAD) = 9.1% by weight ✅Swedish Krona (SEK) = 4.2% by weight ✅Swiss Franc (CHF) = 3.6% by weight Its formula is: DXY = 50.14348112 × EURUSD -0.576 × USDJPY 0.136 × GBPUSD -0.119 × USDCAD 0.091 × USDSEK 0.042 × USDCHF 0.036 Why Dollar Index Increases? 👉🏻Every move that will strengthen the dollar in the United States, decrease in unemployment, positive employment data, high growth figures 👉🏻The depreciation of the local currencies of the six main countries included in the DXY Why Is The Dollar Index Declining? 👉🏻Data that will cause the dollar to depreciate in the United States, growth figures below expectations, unemployment rates higher than expected 👉🏻Strengthening of the economies of the six main countries in DXY, appreciation of their local currencies DXY is updated as long as the USD market is open. DXY can be traded as a futures contract on the ICE exchange. It is also available in exchange-traded funds (ETFs), options, and mutual funds.
ICEUS:DX1!
by Forexcues
US economy recover - SP500US economy recover - SP500 Timeframe: H4 Forecast:Through the sensitive military news from Ukraina and Russia, US economy is on the way to recovery and according to technical analysis, the important keylevel has broken to make another uptrend. Trading Plan: Buy mid term to re-test 1 or both important levels. - Target 1: 4670$ - Target 2: 4900$ ------------------------------------------------------------------------- Trade with care and always put stoploss.
OANDA:SPX500USDLong
by tradafx
How To Draw Bat Harmonic Pattern In this simple lesson, we will learn together how to draw a bat pattern About the School of Harmonic Analysis The harmonic analysis school is about certain patterns that occur on the chart that give an indication of a reversal in the trend, using Fibonacci ratios, and it is considered one of the most important schools in technical analysis that many analysts rely on in the world. The school consists of more than one model, but in brief, we will learn the most important and most frequent models on the chart. Today with the first pattern, which is the bat pattern.. Please follow the instructions on the chart and for any questions, please put a comment
OANDA:XAUUSDEducation
by Fx_Vanguard
WHY YOU SHOULD PAPERTRADE FOREX DEMO ACCOUNT BEFORE REAL $$$$$Hey Traders so today I wanted to take a step back and show beginners how to papertrade the Forex Market. Although some believe papertrading is not the same as real trading. I believe if you take the papertrading account seriously you will gain many benefits. You will get experience, learn discipline, gain confidence, and test your results to see if you are truly ready to open real account. Enjoy! Happy Trades, Clifford
Education
by TradeTheIndex
3
EURAUD Pullback Sell SignalEURAUD rallied to the topside very fast breaking out of the consolidation range. With every large rally there is always a pull back to its origin. Expecting price to pull back to the 4hr up trend line then the support (past resistance). Strong sell RSI with bear candlesticks giving us a good indication of a strong reversal. Good sell entry @ 1.6724 area down to 1.6650 & 1.6600 area. Good luck and let me know if there are any questions. Charles V CVFX Management Trading made Simple
by cvfxwealth
Change your mindset - Dont Trade Forex.... Invest in Currencies I had been looking to do a market breakdown this weekend but to be honest, all the opportunities in the market have already been shared in my previous ideas posted. So instead I am going to share a topic I have spoken to a lot of my followers about recently. The mindset of trading, or should I say investing... because that is really how you need to see it if you want to be able to trade consistently with confidence and conviction in your ideas. Lots of people, especially newcomers to trading and FOREX simply see a chart and make a decision if the line is going up or down. A guess, a gamble. Even though I know we ave all done this at some stage, its not a strategy that will mean you are still successful in 5, 10. 20 years. If you want to make money in this industry you need to have the mindset that you will still be doing this in 5, 10, 20 years. Once you start doing that it gives you a calmness to think though each trade like an investment. So, before we get into this - I will explain the difference between a trade and an investment. - A trade is something you are typically taking a position on leverage and for the short term, a few minutes / hours / days. Typically you are only looking at one only that chart and have a clearly defined exit if the trade goes into loss. - An investment is something you decide to take a position in based on the underlying facts/fundamentals of what you are buying, the price is secondary. You consider more than just that one chart you are placing the position on and are willing to hold it indefinitely whether its in drawdown or not because you know the underlying fundamentals are right for you investment to come good in time. So once you see the difference, which mindset and process is likely to play out successfully in 5, 10, 20 years time? Which mindset is likely to give you less stress while in positions? Which mindset will give you confidence and conviction in your positions? All of this confidence and conviction in your positions is based in knowledge - In this industry, knowledge truly is power! So when I say dont trade forex .... invest in currencies its because the mindset of trading forex is based in looking for quick wins, get rich quick stories and rented Lamborghinis. Whereas investing in currencies is based on the mindset to still be doing the same thing in many years time. Its the difference between aiming to be rich or to be wealthy. The process of trading forex is looking at EURUSD and wanting to go short because of a chart pattern or something you have seen in the chart. The process of investing in currencies is to be looking at the Dollar and seeing strength across a number of different charts involving the dollar such as DXY, USDJPY, GBPUSD. And then also having a separate opinion of weakness in the Euro by doing the same thing and considering the Euro across a number of different charts. - Once you have identified both strength in the Dollar and weakness in the Euro you are able to confidently invest in shorting EURUSD. At this point you have conviction in your position. Please let me know your thoughts in the comments and for more posts like this follow me.
Education
by JoelWarby
12
WHAT TOPICS WOULD YOU LIKE ME TO COVER?Hi Guys - all my followers and non followers.. I am getting back to releasing weekly episode/episodes of the ' Art of trading Psychology' in the aim of helping traders get in the 'zone' when trading. Mastering trading psychology is by far one of the hardest aspects in trading yet it is also the one that will drive you to you success as a trader if mastered. I would truly love to cater this podcast to you guys and in order to do so, i need to understand what it is you're struggling with and what you would like to cover i.e - finding taking profit hard? - being consistent - scared to take a trade or uneasy when you're in a trade? - Losing too much? Anything you think of, drop it in the comments below or message me!!
Education
by Malika_Analysis