In this chart I show you the time at mode signal active on chart. Currently, there's a 6 month timeframe downtrend that demands price to hit 0.91505 by May-July 2019, or sooner, and a 2 month signal that is very close to confirming.
Confirmation for this signal can come if we hit 1,07422 during October, or if November-December closes with a high that is lower than 1.10971.
There's a kicker here though, the RgMov indicator -which plots a visual representation of investor sentiment, obtained using a proprietary calculation developed by my mentor, Tim West- is showing a deeper decline than the one observed on the previous bottom, which could be a bullish signal, if we get further confirmation, or simply an increase in bearish sentiment.
If we don't see 0.95047 hit during the next 2 months, this would constitute a bullish signal on close, and I could envision this happening if the Fed disappoints the bears by not hiking interest rates on the December FOMC meeting.
For now, I'm flat EURUSD, but I have long positions in USDSEK, USDJPY, USDCHF and USDNOK.
I'll be monitoring the progress in the dollar to either hold my trades anticipating the lofty long term targets seen here, or, look to flip long if we get reasons to do so.
The best thing is that we will get a big long term signal within 2 months. Stay tuned for updates.
Good luck,
Ivan Labrie.