Parabolic - supersonic move.
Daily: Extreme on all fronts. The regression trend made sense until yesterday, as it matched almost perfectly the major uptrend line on the lower side and formed a reasonable bull channel for the price candles.
Then suddenly boom, USD jumped all over the roof. ADX is above 58. This trend can not be sustained with this pace.
This is only the third wave of the trend, basically we did not have any pull back, not even the smallest retracement since the wave no. 2. I have been moving up number 3 and 4 for some time now. I think we should finally have it somewhere between 83,90 - 84,50, as multiple long term top levels are lining up here.
4 hrs: DI+ crosses back below the high ADX line. Slow Stoch turns down. Pull back should come now. The question again is how deep it can be? Short term supports are 83,30 / 83,00. Still far away from a possible short counter trend move, but volatility will likely pick up and we will see more nervous trading from now.
The major trend will likely remain bullish, but it will not be so obvious when and how to enter and exit trades. We will have to adjust trading sizes soon according to possibly increasing ATR, and we'll also need a lot more patience.
Daily: Extreme on all fronts. The regression trend made sense until yesterday, as it matched almost perfectly the major uptrend line on the lower side and formed a reasonable bull channel for the price candles.
Then suddenly boom, USD jumped all over the roof. ADX is above 58. This trend can not be sustained with this pace.
This is only the third wave of the trend, basically we did not have any pull back, not even the smallest retracement since the wave no. 2. I have been moving up number 3 and 4 for some time now. I think we should finally have it somewhere between 83,90 - 84,50, as multiple long term top levels are lining up here.
4 hrs: DI+ crosses back below the high ADX line. Slow Stoch turns down. Pull back should come now. The question again is how deep it can be? Short term supports are 83,30 / 83,00. Still far away from a possible short counter trend move, but volatility will likely pick up and we will see more nervous trading from now.
The major trend will likely remain bullish, but it will not be so obvious when and how to enter and exit trades. We will have to adjust trading sizes soon according to possibly increasing ATR, and we'll also need a lot more patience.
