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| Dollar Index four-hour chart, source:FXStreet.com |
cf. [USDX] Non-Farm and Hourly Earnings 2019 0504
Currency pairs and dollar index move by economy events, that is, Forex itself is less effective than external factors.
Watching the economy news is more important than technical analysis in these days. Federal Reserve System chair's speaking, U.S.-Sino Trade conflict are very powerful materials to Forex.
The positive expectation of the trade war makes the investors predict the positive United States economy and dollar index, dollar's value compare to major six currencies, rises. Sometimes it guides them to expectation of global economy's growth and leads greenback down.
It is not just to look at economic indicators and news, but also to look carefully at investment sentiment. This is because they show opposite behaviors for the same result.
The United States raised tariffs on Chinese goods to 25 percent on Friday. The trade war doesn't help global economy growth and has raised dollar index, but now investors guess it isn't good factor for U.S. economy and makes dollar index down.
The uncertainty of U.S.-Sino trade war's end lowers dollar index recording 97.31, now.
In technical view, USDX seems to change its trend to downward in four-hour chart. It made the peak of 98.33 when the advanced GDP was released 3.2 percent in annual rate, and it lowered the second peak in four-hour chart.
As dollar rises, investors who think dollar has risen enough increase, too.
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