See what
the dollar index chart looks ahead of FOMC.
So what's wrong with
this dollar index chart?
The dominant feature on the weekly
dollar index chart is the broad trading band between $ 0.93 and $ 1.005.
The Dollar index chart shows a weak head and shoulder reversal pattern.
That's a historical support level, and it's the most significant feature of
the dollar index chart.
We noted the dominant feature on the weekly
Dollar Index chart was the broad between $ 0.93 and $ 1.005.
Instead it has failed so our next task is to use
the Dollar Index chart to set the potential downside targets.
Not exact matches
On a
chart of the
dollar index going back to 1983, Gordon points out every big rally and fall in the currency and then connects the peaks of each rally.
This logarithmic
chart of the S&P / TSX Composite Price
Index (and appropriate precursors) goes back to 1920, adjusted to October 2015
dollars.
The target is verified against the behaviour of the
dollar index on the monthly
chart.
A case in point is the line
chart of the
dollar index with a downtrend line.
The U.S.
Dollar Index plunged through support at 114 as if it didn't exist, and closed last week at 112.94 (click here for a
chart).
For example, one can see the strong relationship between the price of oil (inverted in attached
chart) when plotted against the
dollar index.
One of the most reliable
charts to monitor when trading gold ETFs, spot gold futures, or even physical gold coins, is the US
Dollar Index ETF ($ UUP).
This
chart shows the performance of the US S&P 500
index over the past two years versus the Australian and Canadian equivalents, all expressed in US
dollar terms.
See on the daily bar
chart for the U.S.
dollar index that prices are in a four - week - old uptrend and have just hit a six - week high.
Below is a 20 - year
chart comparing the performance of the US
Dollar Index to the performance of the ratio between US and non-US stocks.