USD Trading Tactics.

Now let’s put all these things we just learned and come up with some trade tactics for the USD.

Looking at differences in U.S. economic developments and economic data from other major economies is a good way to start off trading the USD.

For example, a jump in the US retail sales and ugly results on UK’s employment situation report would give you a reason to sell the GBP/USD.

The U.S. dollar index or USDX, which tracks the performance of the USD versus a fixed basket of currencies, is also a great barometer of the strength of the USD.

By regularly looking at the U.S. dollar index, you can find some clues on where the USD is headed.

A USDX that is trending upwards could provide you the additional confirmation you need to take a short position on the EUR/USD.

Talks of a Fed funds rate hike, which signals the possibility of higher returns on US assets, encourage traders to buy up the USD.

Well, don’t get left behind!

Taking note of the Fed’s monetary policy outlook, which is usually part of Fed officials’ speeches, could yield some clues about the direction of the USD.

Hawkish remarks could serve as signals to go long on the USD/JPY while dovish comments could serve as reasons to short the USD/JPY.

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