Check list: Daily - Down trend broke, Price moved above Kijun Sen and retested back. MACD bullish, Stoch points up. However what is missing for a real trend to develop: ADX dropping, with DMI likely to show some zig-zag in the close future, Chikou Span (blue line) is hitting the price wall, Future Kumo is flat, and of course price still trades below Kumo. We might see a weak bullish cross on Tenkan/Kijun soon.
Let's go down to 4 Hrs timeframe: Bearish trend broke, Kumo breakout took place and Px retested the Kumo. This breakout strategy is getting validated now as price keeps going higher. DMI is bullsih and here ADX is picking up too (momentum increasing). We see a good price support at 79,83 - 79,92 range. Also very interesting how the appr. 80,55 level shows its importance. It is an old horizontal line on my 4 Hrs timeframe, which acted well as support/resistence before, and now it is perfectly in-line with the Daily Kumo (actually with its Senkou A component).
Long story short: looks USD is ahead of real major bullish move. I will accumulate USD on any retests close to the 4 Hrs Kijun or Kumo. Once ever it breaks above 80,55 the long term rally will take place. The only thing I can not tell you, wether it will move sideaway first between 80,00 - 80,55 or breaks up within a week.
To measure your risk reward, I'd recommend to place initial stops to 79,75-79,80 levels.
p.s.: I feel it is time to Thank You all who follow me. Increasing number of followers is a real pleasure, since it shows you like my concept. Please feel free to comment my ideas any time, give a thumb up if you like them, and most importantly if something is not clear, or you have any questions, please do not hesitate to ask me here or at kumowizard@gmail.com!
Let's go down to 4 Hrs timeframe: Bearish trend broke, Kumo breakout took place and Px retested the Kumo. This breakout strategy is getting validated now as price keeps going higher. DMI is bullsih and here ADX is picking up too (momentum increasing). We see a good price support at 79,83 - 79,92 range. Also very interesting how the appr. 80,55 level shows its importance. It is an old horizontal line on my 4 Hrs timeframe, which acted well as support/resistence before, and now it is perfectly in-line with the Daily Kumo (actually with its Senkou A component).
Long story short: looks USD is ahead of real major bullish move. I will accumulate USD on any retests close to the 4 Hrs Kijun or Kumo. Once ever it breaks above 80,55 the long term rally will take place. The only thing I can not tell you, wether it will move sideaway first between 80,00 - 80,55 or breaks up within a week.
To measure your risk reward, I'd recommend to place initial stops to 79,75-79,80 levels.
p.s.: I feel it is time to Thank You all who follow me. Increasing number of followers is a real pleasure, since it shows you like my concept. Please feel free to comment my ideas any time, give a thumb up if you like them, and most importantly if something is not clear, or you have any questions, please do not hesitate to ask me here or at kumowizard@gmail.com!