Forex technical analysis trading US dollar

Posted by on Aug 23, 2012

By David Ruscelli


This post in italian

Hello guys, welcome on my daily technical analysis on foreign exchange markets, CFD and indexes.

Today a short post, because what we need to know is just within the dollar index.

Today probably most of you are in profit because you took benefits of this dollar short momentum for sell it in every possible way.

Well, I think this is the right moment to take the profits and get out the market closing all positions opened. (positions on su eur/usd, xag/usd, xau/usd, gbp/usd etc…) let’s see why:

 

USD INDEX

Analysing foreign exchange market we  gather that US dollar did lose value against eur, gold, silver, yen and he gained with GBP pound, AUD, NZD and CAD.

The sum of these floats is clearly showed on dollar index chart. In this chart is formed a pin bar against momentum, I think this signal could be as a prelude of a flag, a retracement of the US dollar, therefore it’s saying us to close all USD short positions we have around the forex, get the profits in our pocket and thanks a lot, bye bye!

USD INDEX D1

 

 

That’s all for today. Have a good trading!

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