How do you see the dollar index?

Edited :-

how lazy of me to ask that question, haha. well I found here on fxstreet :

"The USD Index measures the performance of the US Dollar against a basket of currencies: EUR, JPY, GBP, CAD, CHF and SEK"


If that statement is so, correct me if I'm wrong, but wouldn't it meant that the current USD index is only reflected after the USD and its various pairs have done its movement? Then this wouldn't be the explanation for that 3pm rise would it?

This post has been edited by dillmac: Mar 24 2012, 12:18 AM

ForexPros - USD Index

Its the only live chart I know, but ive experienced sometimes it lags. Some brokers have the dollar index at their MT4 platform too.

---

Added on March 24, 2012, 12:21 amHah? I dont understand ur question. Hahaha

This post has been edited by aimank_88: Mar 24 2012, 12:21 AM

What I meant is,

since you said that the rise in Eur/Dollar at 3pm was caused by a drop in dollar index, but according to the statement by http://www.fxstreet.com/rates-charts/usdollar-index/ , they said that the Dollar Index is "The USD Index measures the performance of the US Dollar against a basket of currencies: EUR, JPY, GBP, CAD, CHF and SEK".


What that statement explain is that you can only get the Dollar Index after calculating of the performances of various USD pairs(Eur/Usd, Usd/Jpy).


Your theory is that the rise of Eur/Usd at 3pm was caused by the dollar index, but the statement from fxstreet said otherwise(that the USD Index is formed from the collective calculations of various USD pairs).


To make it more simple,

according to you - USD Index show first, then currency pair of Eur/Usd follows the index.

according to fxstreet - Eur/Usd, Gbp/Usd, etc.. performs first, then you get the Dollar Index.




If I follow fxstreet, then there is something else that was pushing the Eur/Usd pairs up. There was no economic news negative for the US or news positive for Eurozone. Then, what was it?

This post has been edited by dillmac: Mar 24 2012, 12:43 AM

Yea its true, the Dollar index measures the dollar performance against a basket of currencies. AND also vice versa. Ur question was just now what made Euro go up, I just checked the dollar index, it fell at the same 3pm candlestick our time, so assumably because of that.

Theres a lot of factors affecting the market: dollar index, buyer sentiments, news, announcements, bla3. So one can never know what exactly happened u see. Like sometime earlier this week when I was trading gold, I witnessed gold went up at the same time the dollar index shot up. Thats not logical since gold was paired against dollar. They should be like magnets of different polarity, if one goes up the other goes the other way. Then most probably it went up because of buying power from traders, technical traders perhaps?

Furthermore, most technical traders just analyse from the chart, not much on fundamentals as to why it went up or down.

Hehe

This post has been edited by aimank_88: Mar 24 2012, 12:54 AM

Well, I guess you're right that many factors affect the graph. I still feel that that 3pm rise was market manipulation, haha, you know how these banks know about traders' stop loss.

If you're trading gold, I'm not sure if it's alright for you to refer to the dollar index? Maybe it's best for you to compare gold prices with Aud/Usd. Like Poks said before in V9 that since Australia is one of the major exporter of gold, hence, it's currency value will accompany the gold price and vice versa.

This post has been edited by dillmac: Mar 24 2012, 01:29 AM

Yea from time to time, but dunno, maybe used to checking dollar index?

Now wanna try on oil market tho, just wanna confirm, is oil market somewhat similar to CAD? Can anybody cnfirm?

Elliot Wave Analysis On Gold Daily Chart.

corrective wave is complete.wave 1 completed.wave 2 shown good divergence,almost 61.8% of wave 1. probably end of wave 2 and start to moving up to complete wave 3.
i enter long at 1,632.95.good luck.trade at your own risk.

This post has been edited by boyvai: Mar 25 2012, 07:37 AM


Attached thumbnail(s)

did i?
this old man can't remember that much nowadays ....
there we have it for gold... i'm in buying view...
here some stupid candle counting i always do.. but it works...
just pay attention on the small candle... i love this when price in range...

**btw .. if you look at usdjpy 1D, it's a good sell setup...


Attached thumbnail(s)

mr,poks
hopefully market will move up.


Attached thumbnail(s)

I own an Oanda trading account, and I want to fund the account for the first time.
The Funding Source I choose in Oanda is Bank Transfer, and then Wire Transfer.
I like to do Telegraphic Transfer via Maybank2U, is it TT and Wire Transfer the same thing?

But in the TT page, many fields to be filled in, like IC or passport of Recipient, address, contact and so on, so how?

Thanks in advance...

if u lazy, u just go to ur nearest maybank counter for TT lo..just tell them what amount of money u want transfer and fill up form then settle already. at least if u dont know something, can ask them.

Fly gold fly!

gold and silver push!!!

bernanke talk have some great effect today. XP

Yea go go. Hope it reaches 1700 for gold.

Yea after some time at last it went as expected. LOL

Eur/Jpy looks like forming a double top on daily chart. A possible drop for EuD after gaining close to 200 pips yesterday?

i'm still waiting for EJ drop , as i'm holding more than -200 pips ..hahahhaaha

and there goes the drop!

poks, u must b doing great!!!... huat ah!!....

wil it be too slow to go in right now? ......missed yesterday trade whole day....

not bad mr rime...
now looking for rebound @1682.25 (master candle high)
or 50% of yesterday candle...
well ... seems like opportunity is near