Looking for USDCHF + EURUSD Correlation Breakdown Trade
USDCHF has essentially been trading exactly off Euro news for a bit now and I think it wants to keep this trend going, regardless of strength/weakness of Swiss data coming out this week.
This presents an opportunity.
Look for Swiss data to move USDCHF out of correlation, play the retrace game back to where it "should" be given the price of EURUSD.
This is a pretty dicey trade, be careful and keep an eye on the price action in the ladders and get out if things seem to be breaking down for real. This correlation will exist until it doesn't so don't get caught in the shift.
This presents an opportunity.
Look for Swiss data to move USDCHF out of correlation, play the retrace game back to where it "should" be given the price of EURUSD.
This is a pretty dicey trade, be careful and keep an eye on the price action in the ladders and get out if things seem to be breaking down for real. This correlation will exist until it doesn't so don't get caught in the shift.
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