Long or Short Right?
If news is good for DXY (like Trump revealing tax reduction plans) USD will rise and continue bull inside overall channel. This would agree with USDCHF weekly chart indicating a retracement in a bullish direction much further than what is shown here.
Otherwise, usdchf will correlate with DXY may be forming a right shoulder and is also in a bear flag position. Its bear flag position is what my priority watch is including.
Because of USD's bear flag, I am more inclined to assume DXY will be headed down come Monday Asia session bringing usdchf with it.
I will wait for price action to confirm true direction. It's a good excuse to avoid trading until Monday NY session.
Trading less is more money!
If news is good for DXY (like Trump revealing tax reduction plans) USD will rise and continue bull inside overall channel. This would agree with USDCHF weekly chart indicating a retracement in a bullish direction much further than what is shown here.
Otherwise, usdchf will correlate with DXY may be forming a right shoulder and is also in a bear flag position. Its bear flag position is what my priority watch is including.
Because of USD's bear flag, I am more inclined to assume DXY will be headed down come Monday Asia session bringing usdchf with it.
I will wait for price action to confirm true direction. It's a good excuse to avoid trading until Monday NY session.
Trading less is more money!
