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The USDx and Trading the EurUsd

It will come as no great surprise to anyone who has traded the Fx majors to know that keeping an eye on the Usdx (US Dollar Index) pays dividends. This is particularly true when it comes to trading the EurUsd which will again be no surprise as the Euro is the main component of the Usdx (comprising 57.6% of the index). As such there is a strong inverse relationship between the two instruments. Below is a quick video example of how I use the two instruments to frame scalp (and potential swing ) trades.

NB: To see the charts better click on the full screen to play video.

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