Update: First Target Hit ... | $EUR $USD $Euro $USDX #Forex

FX:EURUSD   Euro / U.S. Dollar
236 2 5

Just a quite word here on this major, to mention first how our predictive and forecasting strategic system was able to define a reversal (market at the time was expectedly bearish due to geopolitical development), and direction to the upside, as well as a series of targets, the first of which just got hit a moment ago.

At this point, there is nothing to indicate problematic hindrance ahead as price makes its way to the second target.

Note also that price also continues to follow the development of a potential bearish Wolfe Waves pattern, drawn in the bottom right WEEKLY frame. A 1-4 Line not drawn here (but coming up soon as price reaches targets and signals an early market reversal signal) will become the next item of interest.


David Alcindor
TradingView.com Moderator, Alias: 4xForecaster
Predictive Analysis & Market Forecasting

Get signals, analyses and forecasts on Twitter
Alias: @4xForecaster

Disclaimer: 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
08 MAR 2014 - Tech-Note:
- Commitment of Traders & Resulting Net Speculative Positions



According to the following CFTC's COT data for the week of March 03rd, the directional biases have moved as follows:

$EUR = +
$JPY = +
$GBP = +
$CHF = +
$CAD = -
$AUD = -
$NZD = +

Implied $USD = -

Hence, based on the CFTC's data, the net speculative positions held in EURUSD by non-commercial players is net BULLISH,. Considering that all-major strengths are leaving the US Dollar on the bearish side, then expect further rallying in the Euro, which supports our recent predictive analysis and forescating.


David Alcindor, MOD
There's always the possibility of drawing a graph after a move has happened. The recent political events in the Ukraine have taken any normal sense out of the market...
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