superherobyday
Private, 1st Class
- Messages
- 34
Lately I've been attempting to incorporate Currency Indexes into my trading. It seems the overall value of any given currency would be good to know. However, being that the indexes are derived from the Currency Pairs, I'm beginning to think that an index is nothing more than another indicator.
I know indexes can still give a good general idea of the strength of a currency, but is there any other reason to look at them? For instance, is there any sense in utilizing indexes to increase the accuracy of Support and Resistance levels? Or to judge when a currency is overbought or oversold? Will these factors on an index have any effect on any given currency pair?
Cheers
I know indexes can still give a good general idea of the strength of a currency, but is there any other reason to look at them? For instance, is there any sense in utilizing indexes to increase the accuracy of Support and Resistance levels? Or to judge when a currency is overbought or oversold? Will these factors on an index have any effect on any given currency pair?
Cheers
