Some thoughts regarding the Majors and this current multi month strong rally (aka multi month USD weakness)
Is the rally ending? Now? Much later? I have no answer.
Seen with Daily TF, most of the Majors are showing what I called "fuzzy tops".
To me, such tops looks more like corrections and pauses. (see below examples of current price of Majors)
Personally, I would prefer having a "text-book"typical blow out sharp top at the end of a rally, to signal exhaustion of trend and welcome Bears.
See below random examples
NZDUSD and GBPUSD are both just below critical resistance for at least 5 days, and now showing weakness and may fall.
Who knows, maybe just a slight fall or correction, so that the trend will sharply up again to form a new high and sharp blow out top?
All the above are risk and possibilities to consider, and it is so difficult to make decisions.
Is the rally ending? Now? Much later? I have no answer.
Seen with Daily TF, most of the Majors are showing what I called "fuzzy tops".
To me, such tops looks more like corrections and pauses. (see below examples of current price of Majors)
Attached Image
Personally, I would prefer having a "text-book"typical blow out sharp top at the end of a rally, to signal exhaustion of trend and welcome Bears.
See below random examples
Attached Image
NZDUSD and GBPUSD are both just below critical resistance for at least 5 days, and now showing weakness and may fall.
Who knows, maybe just a slight fall or correction, so that the trend will sharply up again to form a new high and sharp blow out top?
All the above are risk and possibilities to consider, and it is so difficult to make decisions.