Last Wednesday, June 04th, i posted two bearish targets for this chart, nmaley:
1 - TG-1 = 1.43744 - 04 JUN 14
and
2 - TG-Lo = 1.40384 - 04 JUN 14.
For a detailed technical commentary of the predictive analysis and forecasting, see the original chart/text here: tradingview.com/v/Zwvl2pXG/ .
As of today, the outlook remains bearish and the lower target remains intact and in force. As defined in that former analysis, the "Lo/Hi" targets represent lesser probability events, but IF and ONCE price does reach these levels, it will have a tendency to represent a reversal.
While the target remains valid, I expect some consolidation to occur. For this reason, I will turn the Directional indicator to "Neutral".
TG-Lo has gained added probability of getting hit at this point - A move above 1.46011 would lessen the chance of a target hit at any lower level, though, so I would use that value as a sine quo non condition.
From Twitter:
-----------------------------
EURAUD Update: TG-1 hit since June 04th forecast; TG-Lo remains pending
-
via @TradingView | EUR AUD #forex
-----------------------------
Traders,
TG-Lo has gained added probability of getting hit at this point - A move above 1.46011 would lessen the chance of a target hit at any lower level, though, so I would use that value as a sine quo non condition.
Cheers,
David Alcindor