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SECRET forex trading strategy for USDCAD using Crude Oil and U.S. Dollar Index - USDX, DXY, DX
SECRET forex trading strategy for USDCAD using Crude Oil and U.S. Dollar Index - USDX, DXY, DX. The Canadian Dollar and crude oil are strongly correlated. Correlations between the world's most heavily traded commodities and currency pairs are common. For example, the Canadian dollar (CAD) is correlated to oil. The U.S. Dollar Index (USDX, DXY, DX) is an index (or measure) of the value of the United States dollar relative to a basket of foreign currencies, often referred to as a basket of U.S. trade partners' currencies. The Index goes up when the U.S. dollar gains "strength" (value) when compared to other currencies.
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