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Euro Dollar Pair - You Need To Watch Both

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Euro Dollar Pair - You Need To Watch Both

How to follow the USD basket of currencies of which the Euro comprises the most weight? As a proxy for the direction of the Euro, if the dollar basket over in the futures market starts to climb, sooner or later (and, sometimes later indeed!) ... the Euro will inverse with high correlation. DXM8 ... that is the symbol over in the futures market for the June 2018 US Dollar contract. Cash settlement there, unless you have the blocks of underlying currencies that make up the basket ready to tender on the 3rd Friday of each month. Use the US Dollar Index to anchor your EUR/USD trades, both long and short depending inversely on where the market for a US Dollar contract moves in the futures pit.

Tue, 06/05/2018 - 9:17pm