4xForecaster
Short

Predictive Analysis/Forecast: Bearish | $EUR $USD #ECB #Forex

FX:EURUSD   Euro Fx/U.S. Dollar
686 2 4
Friends,

Looking at the EUR/USD             pair, there are several technical reasons to forge a bearish bias, or to the very least reconsider any bullish contemplation.


PREDICTIVE ANALYSIS/FORECASTING RESULTS:

First, my predictive analysis and forecasting system confirmed a BEARISH market reversal signal on March 25th. At that time, price was hovering around 1.3806. The ensuing forecast defined the following two targets with probability (dates reflect time of posting):

1 - TG-1 = 1.36707 - 29 MAR 2014, high/moderate probability

and

2 - TG-Lo = 1.35008 - 29 MAR 2014, moderate/low probability.



TECHNICAL ANALYSIS:

On the basis of technical analysis alone, an upright head-and-shoulder ("H&S") dominates the field, casting its symmetrical head down to 1.34944, a value that corroborates tightly with my forecasting value, defined above.

Regarding anticipated price action             , significant resistance is expected within a narrow 1.38550/1.38389 range, corresponding to a support-turned-resistance as price fell through and initiated an early market reversal sign this past week. However, 1.38749 remains the structural line that should concern bears, were price ever crossing-and-closing above it.


OVERALL:

Bears dominate the chart, despite a relief rally occurring in a shorter-term chart (M15) from 1.3703 to a recent H&S spike, and a long-term chart (Daily) where bulls give no indication of weakness. This timeframe divergence should keep the bearish-biased trader in doubt, and the counter-trend trader interested in a potential interim decline to the levels defined above.

This trader's directional bias is neutral to bearish , while the system is bearish , yielding a net BEARISH bias.

Cheers,


David Alcindor
Predictive Analysis and Forecasting


If interested to receive my TradingView forecast instantly through Twitter:
Simply follow me: @4xForecaster.
Here is a recent forecast:
X (US Steel) - New Target @ 30.422 | #Steel #NYSE


-------------------------------------
Disclaimer:
- Remember to remain dubious about every and any thing I say. All comments are subjective perceptions based on unshared, proprietary and common knowledge of fundamental analysis , classic technical analysis , basic and advanced pattern trading, as well as personal research in occult market geometries, predictive analysis and quant-based forecasting, some or none of which is being shared in my trading profiles, so do your due diligence and review the disclaimer below.
- Forecasts, analyses and directional opinions generated herein are for educational purposes only and are not trading recommendations. We trust that you will do your own due diligence first, then seek professional advice from a licensed professional, then enter the market at your own perils - David Alcindor - TradingView.com Alias: 4xForecaster
David Alcindor, CMT Affiliate #227974
Alias: 4xForecaster (Twitter, LinkedIn, StockTwits)

Signal Service or Private Course - Contact: MarketPredictiveAnalysis@gmail.com
All updates on https://twitter.com/4xForecaster
Friends,

If you like the analysis/forecast presentation above, be kind to give it a thumb and pass it forward to friends and colleagues. For more TradingView signals, analyses and forecasts, feel free to follow me on Twitter under my alias: @4xForecaster.

Your kind support and friendly referrals are much appreciated, as MODs strive to put out quality analyses and bring in experienced traders.

Cheers,

David Alcindor, MOD
Independent Predictive Analyst/Financial Market Forecaster
Reply
United States
United Kingdom
India
Deutschland
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out