DXY 19th FEB

19 feb 2023

First DXY breakdown we have posted, overall we wanted to show you the correlation between the other USD pairs that we posted today and overall how you can use this as a correlated trading pair.

For anyone that doesn't know, the dollar index directly correlates to any pairs with the US dollar... If you look at this chart matched with any of the US dollar charts and their correlated pairs, you will see a reverse correlation. This allows us to anticipate certain trades for indexes and currency pairs.

using direct correlations can bring much more accuracy to your trades that correlate with this index.

Right here you can see we created a clear bullish movement to the upside. We have also put in a range which is also bullish. We have clear areas of demand that we are sitting above currently I'm expecting the price to continue bullish from these areas of demand. If the price does not hold and we break lower, until we take out the major low highlighted with the green dot we are still bullish overall.

Remember guys, if you like this idea, hit that boost button. Drop us a comment down below. Let us know what you think.

As always guys trade safe, stick to your trading plan.

I hope you all have an amazing trading week.