Bullish Reversal Signal; 2 New Targets | #EURUSD $USDollar

FX:EURUSD   Euro / U.S. Dollar
353 1 2

Some surprising fundamentals helped lift the EURUSD             above its 1.3700 ceiling with the help of disappointing fundamental US data - See edifying fundamental reviews offered by Kathy Lien here: http://www.bkassetmanagement.com/author/kathy/

From a technical standpoint, a bullish market reversal signal posted on our proprietary strategy and predictive analysis, bringing our eyes to loftier targets: A primary target as TG-1 = 1.38632 and a target-high, TG-High = 1.38997.

Not included here is a market reversal signal - albeit lacking confirmation - in the USDollar             Index, with technical targets in the low 10400 pending a bullish momental support failure born in September 14th, 2012 as a physical sine quo non condition.

Bullish targets at TG-1 = 1.38632 and TG-High = 1.38997 emerged following a bullish market reversal confirmation in the EURUSD             chart, correlating well with fundamental development, both favoring the EURO             and handicapping the US Dollar             . Combined with an unconfirmed bearish market reversal in the USDollar             Index, the net picture favors a rallying of the EURUSD             pair.


David Alcindor | 4xQuad
Predictive Analysis & Forecasting
Denver, Colorado, USA


PS: Here is a weekly SPX             chart worth considering:

- Other recent analysis and charting:
AAPL             - https://www.tradingview.com/e/OqhN6oTc/
AMD             - https://www.tradingview.com/e/ySdvtzok/
EBAY             - https://www.tradingview.com/e/XWUVhvT0/
FB             - https://www.tradingview.com/e/tfPPZa0e/
GOOG             - https://www.tradingview.com/e/J5A3VRWX/
MSFT             - https://www.tradingview.com/e/SLHE0cgv/
TWTR             - https://www.tradingview.com/e/Rnr5FZ93/


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Disclaimer: All of our analyses are for educational purpose only. The forecasts, analyses and opinions generated herein are not trading recommendations. We trust that you would do your own due diligence first, then seek professional advice from a licensed professional and enter the market at your own perils - David Alcindor - a.k.a.: 4xForecaster | 4xQuad, LLC.

As far as fundamental analysis goes, I would refer the technical trader to succinct, bullet-format synopsis rendered on a regular basis by Kathy Lien in her "FX Insights" segment of her http://www.bkassetmanagement.com webpage. Another frequent read worth linking to is Mr. Ashraf Laidi, author of "Currency Trading And Intermarket Analysis, How to Profit From The Shifting Currents In Global Markets", 2009 - Both of these FX traders and authors are what I would consider authoritative personalities in the media world of finance.

On a technical ground, I won't recapitulate the analysis offered in the original chart, except to add a bit of details and explanation to the lines and numbers in the chart.


The pattern trader might probably decipher a nascent Bearish Shark aiming for the target levels just defined. As you may already know, a Shark is a quasi-pattern, in the sense that all patterns are defined by a X-A-B-C-D harmonic quintet, whereas the Shark derives its original "X" point from "Zero", hence defining its anatomical points as Zero-X-A-B-C (0-X-A-B-C).

The remarkable aspect of Sharks is that they are in fact acting as "gatekeepers" to a consistent and reliable ensuing pattern called the 5-0 Pattern. Both of these patterns have been discovered by Mr. Scott M. Carney who has done significant work and written his discoveries on http://www.HarmonicTrader.com. Mr. Carney is THE authority on harmonic patterns, as he remains the main reference in terms of classic patterns and appropriate harmonic definitions of geometric pattern (except for "The Great White", "The Janus" and "The Euclid", as well as nodular and nodal concepts, which are our own proprietary discoveries).

In order to remain free of any copyright violation and maintain the credit to its author, please review the appropriate measurements of these patterns by consulting Mr. Carney's own site, under "Patterns".

The targets defined in our charts have been defined by first approximating the Shark's patterns, and finally by refining the targets using our own proprietary patterns and strategies. This allows use to provide a layered target definition using more than just a few plausible techniques.

A more basic target can be anticipated by the mere application of a AB=CD symmetrical pattern projection, roughly corresponding to TG-1 = 1.38362.


You will notice that the chart has a narrow support range, whose median represents the 38.2-Fib level. A rallying from this level is expected following an unwinding towards that range. Whether price decides to remain at these levels or veer to lower depth will help us estimate the bullish intention of the subsequent move. For now, our outlook remains bullish with a shallow bearish interim supported at that defined narrow band between 1.36282 and 1.36196. If you take a broad look of that level, you will notice that it has impacted price throughout the span, going as far back as December 26th, 2004 where it played as a major structure-high definition, a detail we discovered only after that line was defined in our predictive analysis - We like corroborating discoveries such as these. In fact, "1.35871" represents our own long position entry.

Significant resistance should be expected at 1.37383, representing the last price rejection that send price to a structure low at 1.34760.

On a "last, but not least" technical detail here, we hope that the trader who lives by Support/Resistance lines took care to look at the big picture - hint: weekly chart: https://www.tradingview.com/e/owquS4xX/ - A quick visual consultation of this weekly chart will reveal that the targets just defined fall outside the outer border of the bearish channel, putting these targets into doubt, if only the analyses depended on support and resistance.

OVERALL: Fundamental, technical and predictive analyses are favoring a bullish upturn. The entry level defined above occurred slightly above a structure-low. We decided to use that structure low as our stop-loss. However, stop-losses will expose various traders to more or less risks of losses, so we recommend that you use your own discretion based on your known risk tolerance and wealth exposure to define stop-losses in your own charts.


David Alcindor | 4xQuad
Predictive Analysis & Forecasting
Denver, Colorado, USA


Feel free to follow us via Twitter: @4xForecaster


Have a fantastic weekend!

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