Under this scenario the USD appears to be in a major cycle which is in the final stage, taking the form of commencing from 1987 (as Tradingview do not have necessary historical data, for details please see Screencast chart link - http://www.screencast.com/t/GMjsjj3nkkH ) which is shown in monthly chart (see below) to give full picture of this potential ( of 3-3-3-3-3 construction). It seems highly likely that wave 4 has just completed and wave 5 of has commence and if it develops as anticipated could give some 3000 - 4000 pips and risking less than 500 pips. In fact that is based on weekly chart, but if drop down to daily or H4 entry could be taken with lot smaller stop loss.
I understand this view would go against the general sentiments in favour of USD and lots talked about raising interest which would be USD positive. There are so many cross currents at work to really consider for anyone to see clear picture based on that fundamental. Therefore my view here is based entirely on and my interpretation of Elliottewave Principle.
So in summary:
1. Final stage of major cycle in the form of of 3-3-3-3-3 construction
2. Major top (wave 4) appears to have formed, with 2 attempted failures to break above previous highs (resistance)
3. Entry almost immediate (maximum stop under 400 pips), but on lower timeframe upon a pullback to Ideally to 1.0 - 1.01 zone with stop loss at 1.0275, ie approx 230 Pip (see H4 chart below)
4. Potential downside target offering 3000 - 4000 pips with some intermediate targets areas along the way.
5. To add confidence in coming to above conclusion see additional charts of other USD pairs giving the same overall view.
6. Invalidation would be price taking out the recent high at 1.0250.
7. If you trade on smaller time frame and wish to follow the trend then various methods could be used to manage the trade and look of re-entering short positions only and/or adding position on significant retracements.
Conclusion: If the above anticipated in USD unfolds then this could offer similar opportunities across several USD pairs in various degree. At the same time I anticipate significant cycle in stock and putting this things together suggest possible outflow of money from USA's soil under repatriation of funds or unwinding carry trade with YEN being the strongest of all major currencies.
Warning: This is my interpretation of price action using TA approach that I consider helps me most5 but could be completely wrong. Therefore as always, do your own analysis for your trade requirement and ignore my views.
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