You may have noticed USD not showing much direction, it's because of this little guy here, the US dollar index
. Until this breaks out of the nice little wedge
that's been holding it prisoner for months and months, we're likely to see USD pairs struggle. So we need to watch other currencies that have big strength or weakness. This doesn't mean USD pairs won't move, it just means the USD component will not be doing much of the push either direction. I love audusd
and others, but not for the USD side of it.
So this is more of a reference chart, there's no trade here for me it's just what I'm watching so I'll be ready for the big USD movement when the wedge