EURUSD

Alright. The GBP index symbol is BXY. The weakness of this index also contributes to why the GBPUSD is also seeing a downside. If Dxy was strong, and BXY is also strong, The sell-off will be slower. and if the BXY was stronger than Dxy, it will cause GBPUSD to buy. Even if I'm late on news Updates, Looking at my technicals on this basket, will guide my expectations whether my decision at a time should be Long Term, Mid-term or Short-Term.

The index symbol for Euro is EXY. If you check EURUSD chart, it is a replica of this index chart. same thing with GBPUSD and BXY. The EXY is a good indicator to determine the durability of strength or weakness of EUR pairs.

The index Symbol of Australian Dollar (AUD) is AXY. AUDUSD, also carries exact replica of the index chart. One of the reasons for the strong buys on EURAUD is because of the weakness of AUD as shown on the AXY index chart. Yes the EXY shows EUR has also been weak, But AUD has been weaker. Economic news and factors' effects on the Currency, often reflects on the index chart a lot. I'm quite sure there has been Fundamentals on AXY that has been driving it downwards this month.

Also, for Canadian Dollar (CAD) it's index symbol is CXY. As illustrated on the chart,you can see that the CXY trend has been bearish long term. Since January 2012. that explains why Currency pairs with CAD as quote, has been on a sustained bullish trend, for years, especially AUDCAD.

There is the Swiss Franc (CHF) index symbol as well. it is represented as SXY. Incase you've ever noticed, the CHF pairs has been on a perpetual downtrend since 2022 until recently, the Index chart clearly represents the effects of Economic decisions in Switzerland that has been affecting the CHF pairs over time. That includes interest rates, World Bank decisions, the fed reserve etc.

The New Zealand Dollars (NZD) has its index symbol represented as ZXY. it's not left out on the bearish trend. for currency pairs that has NZD as base, they have a sustained downtrend. This index charts can guide someone on which pairs to anticipate more sells than buys, and vice versa.

For this week, there is only two Currency Index that has shown bullish strength. DXY is the first one

Wow

I never about this. I'd take a look at it ASAP

Thank you boss

The Japanese Yen Index, represented with the symbol JPYX, is the second currency index that has shown Bullish strength this week. After a very long sustained Bearish trend, that has Kept the JPY pairs on bullish trend since last year till now, is gradually showing potentials to end the downtrend and resume the Bullish trend. Expect strong sells on JPY pairs, if the index price breaks above the 675-680 resistance region. With the exception of USDJPY. because of Dollar strength.

I'll add them to my watchlist. It will be so useful

your'e welcome

What pairs will you be looking at today?

Yes. It is very useful. For Example the EURAUD buys i took, i've taken profit, not just because price reached a minor resistance @16459 , but also because AXY as reached a Major Support.

My 4hr Bullish Channel on EURAUD has not been invalidated yet,and that was a good reason to continue holding the buys at till it reaches 16530, break and retest it, and continue buying, until the channel is invalidated.

I'll stay on Nasdaq today.

I'll also keep an eye on GBPAUD and its brothers GN, EA and EN.

How about you?

I'm watching EURUSD today mostly

Other pairs can follow like Gbpusd, AUDUSD, EURAUD and even xauusd

This is what I have on EURUSD

I'm bullish on EURUSD

This looks clean

Nas100 it is