Hey Traders, the Dollar Index has declined from a high of 103.82 to a low of 95.47 this year. It is nearing support areas and it should be no surprise if the bulls step in as these are also areas of confluences of several support zones. There is an extreme spike low at 91.91 from 5 March 2016 and also the 94.00 – 94.73 support. Keep this on your watch list if you trade USD, but note that there are a few high impact news events scheduled for US this week. If the bulls step in, it might go back to the 103.00 area.

DXA - DAILY

Source: MARYNA

4 thoughts on “DXA – DOLLAR INDEX – WILL THE BULLS STEP IN? 3 JULY 2017”

  1. Charles Bidner says:

    Thankyou Maryna. Re the news events, do you trade those events (scalp)? If so, does your entry technique follow similar strategies as Wayne MacD?

    1. Maryna says:

      Hi Charles, to a certain extend I will say I use the same, but it’s a widely known strategy (Internet) and not unique to Wayne as such . I also use a straddle strategy sometimes and that is something I know Wayne is not fond off, but it more often than not, works for me, but my strategy will depend on the market at the time. However, I never trade NFP as it’s just a bunch of corrections and I don’t trust the data, but only my opinion. I always trade the CAD news as it’s the same time as NFP and generates a lot more pips most of the time.

      1. Charles Bidner says:

        Thanks for the insight Maryna, I have in the past tried to utilise the same technique Wayne uses however with mixed results. I have modified it to suit my own style and have been enjoying some success of late so will continue to develop my own strategy. Straddling I have always thought was fraught with danger so have not even considered exploring it however I may look at it somewhat because of your comments. I would like to know how you apply your strategy, if you would share some tips but only if you are comfortable to do so, or if you could point me in a direction. Many thanks have a fantastic day.

  2. Maryna says:

    Hi Charles, you can clearly see I have no problem sharing from all the trade ideas I post, so no worries about sharing from me! The problem is that it’s really not effective to try and explain things in writing, so best you SKYPE me so that we can talk about it.

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