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US Dollar Index Chart Analysis

Tuesday, November 1, 2016 19:25
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Screen Shot 2016-11-02 at 06.09.16

Hello traders and good to be back with you as we take a look at something different today and that is the dollar index chart. I have to say this chart really shows the volatility of the market as only three days ago the dollar index was at 98.67. So this chart is the 60 minute chart and we can see the sell off and the current price is at 97.74. So my question is why ?. I would have to say this is all about the Fed not going to do anything this year and mostly the U.S. election that is only six days away. If wall street is expecting Hillary to win the markets should be up and the dollar weak. That is not happening we have down markets and down dollar index. This shows me the U.S. really does not know who is going to win this election as it is said that Hillary is the most likely to win. I am not sure anyone has a good finger on this Trump is still strong and a lot of people are not decided yet and they will make up there mind on election day in the booth when they vote. How do we trade ..very careful and with very tight money management in place.

Thank you traders and we will talk soon….William


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