May 28, 2013
- in Uncategorized by schooloftrade
Dollar-Index-correlation tells us to SELL short on Euro Futures
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| Dollar Index 5-Minute |
The Dollar-Index
5-minute chart tells us we have tested both the double-top buy-zone and the trigger-zone
support as price moved lower on Monday and overnight last-night. This morning we can see the Dollar-Index moving
higher up to the 83.900 area where we then have to look for more clues. In the short term we will sell retracements on
the Euro, Gold, Mini-Russell, and Crude Oil Futures with the Dollar-Index moving
higher. Just remember, when that Dollar-Index
hits resistance we can assume the market’s we’re trading (negative correlation)
will hit support.
5-minute chart tells us we have tested both the double-top buy-zone and the trigger-zone
support as price moved lower on Monday and overnight last-night. This morning we can see the Dollar-Index moving
higher up to the 83.900 area where we then have to look for more clues. In the short term we will sell retracements on
the Euro, Gold, Mini-Russell, and Crude Oil Futures with the Dollar-Index moving
higher. Just remember, when that Dollar-Index
hits resistance we can assume the market’s we’re trading (negative correlation)
will hit support.
