I could not find a thread committed to Dollar Index?
My question relates to flag patterns.
DX has reached the top of a structure on weekly and also just broken the 1.27 retracement level of the previous bearish leg as below on weekly.
On daily it seems to be making a ascending flag
On 4H one can see a ascending flag pattern or still developing
In school I learned that ascending flag patterns indicate the likelihood that a bearish move is on the way. My analysis shows that more bullish momentum can be expected, perhaps testing the top of structure again. I guess my best option would be to wait and see what happens before perhaps going long on EURUSD.
What do you think?