Here is yet another completion of a Wolfe Wave geometry as price carves an incremental higher-high. It appears that the Wolfe Wave is weaved by most of the USD pairs, suggesting that the USD is dominating the recent price action.
As with the recent USD pairs posted, in this case we are also expecting a probable bullish reaction in the US Dollar. Whether this occurs at the current price locum or at a 5-prime position, the vicinity of Point-4 is likely to reveal bullish forces keeping price above 1-4 Line, and likely above Point-2 of the geometry. A breach below these levels would require a revision of this and other USD-related analyses.
Look at the recent EURUSD analyses I have shared for a long-term bullish outlook in the EUR, as remains the case in this Forex leader.
OVERALL, the nascent geometry offers high-probability ranges within which price is likely to react with some degree of consistency. In this case, a Wolfe Wave has matured to the point of readying a counter-trend, back towards the 1-4 Line. Any adverse excursion above current levels will be dealt with using rules of the Geo, but expect the level of Point-4 to be re-visited in the most immediate term.
Best,
David Alcindor Predictive Analysis & Forecasting Durango, Colorado - USA
Expect a time-consumptive ab = cd connecting points 3 and 4:
David Alcindor
IvanLabrie
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Excellent David, thanks a lot.
I actually went short and was aiming for 1.1017 for a buy.
A nice confidence boost from your setup. ;)
Have a good weekend!
4xForecaster
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03 SEP 2015 - Twitter/LinkedIn Update:
EURUSD remains close to forecast path; bulls favored:
While an interim decline is expected per this Wolfe Wave geometry completing at Point-5, expect the declined to be measured in the order of a significant Fibonacci number. Here, 0.618 appears to fall in line with a significant R/S levels:
David Alcindor
4xForecaster
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27 AUG 2015 - UPDATE:
From Twitter/LinkedIn:
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EURUSD declines from forecast range; Floor near 1.1016 firms up vs 2-4 Line; Targets intact:
Expect a time-consumptive ab = cd connecting points 3 and 4:
David Alcindor