Hi, im still learning not yet started trading live.I am in South Africa. i heared comments like:The USD was bulish yesterday or, the USD fell against major currencies yesterday. Please educate me on how to analyse whether the USD was bulish or bearish on a particular day.
Take a look at a chart of the USDX (us dollar index). thats usually the best indicator. draw some trend lines on it and see what it tells you.
I have included this YTD daily chart of the USDX i threw some horizontal trend lines ( i basically trade purely from horizontal lines) take a look and make some of your own judgements.
Thanks,appreciated. I am currently practising with a MT4 platform, please give me a link to download the USDX graph.
You can find the answer to your question in the “Japanese Candlesticks” section on the School of pipsology.