SXY is still keeping its feet in ascending channel
Three white soldiers show much stronger ascending momentum as compared to 3 bearish candles - today price at one point found support at .618 level
Closure below .618 will see price testing .786 level - that will be last stop b4 break below ascending channel, after that we will head towards completion of ABCD pattern
After tomorrows bullish candle closure we can consider longing CHF against some weakening currency , in case of break below we can short CHF against USD until .786 level is tested, and then further to ABCD target if .786 is breached too
Seasonals show that in first 2 months of Q4 SXY has tendency to retrace
Three white soldiers show much stronger ascending momentum as compared to 3 bearish candles - today price at one point found support at .618 level
Closure below .618 will see price testing .786 level - that will be last stop b4 break below ascending channel, after that we will head towards completion of ABCD pattern
After tomorrows bullish candle closure we can consider longing CHF against some weakening currency , in case of break below we can short CHF against USD until .786 level is tested, and then further to ABCD target if .786 is breached too
Seasonals show that in first 2 months of Q4 SXY has tendency to retrace