USDX—weekly

It's been a while since I've discussed the USDX. Despite all the gloom and doom around the USD, there hasn't been a lot to say. The index is still tracking upward with three (almost four) touches on the uptrend line since the lows in 2008. The negative divergence appears to be working itself out. 76.87 formed on the low of a hanging man candle should be support.

Here's the chart:











© Dianne Fecteau, 2011. No part of this material may be reproduced in any form, or referred to in any other publication, without the express written permission of the author.

My purpose in writing this blog is to show you how one trader, me, makes trading decisions and survives while trading Forex. One of the biggest problems I had when I first started trading was trying to apply the “rules” to actual trades. Another was the psychology—limiting losses and letting profits run. If you study my blog, you’ll see how I deal with both those issues. So my writings are not trade recommendations but rather educational in purpose. You have to decide on your own approach to trading. Remember that trading is risky.