4xForecaster

Hi-Prop Reversal @ 93.661 | $NZD $JPY #RBNZ #BOJ #elliottwave

Short
FX:NZDJPY   New Zealand Dollar / Japanese Yen
Friends,

As you may recall, a recent predictive analysis/forecasting was released for this same $NZDJPY pair, pertaining to a higher timeframe (4-hour - See link below).

Fundamental analysis remains intact here regarding the $NZD.


PREDICTIVE/FORECASTING MODEL:

Looking at the internal activity of the aforementioned 4-Hour chart, I applied the predictive/forecasting model to define a high-probable level of reversal.

That level is currently defined as:

- TG-Hi = 93.661 - 23 DEC 2014.

If and once this level controls price, one shuold shift back to the higher timeframe (4-hour chart0, which remains the controlling frame for this pair at the moment,


FIBONACCI RELEVANCE:

A Fibonacci matrix is overlaid here, but lends no clear alignment with any forecast level of support. Instead, the structural level defined at 91.611 should offer a temporary support IF and once price adopts a bearish tack.


ELLIOTT WAVE RELEVANCE:

The dominant price action remains that of a complex internal zig-zags, one at a higher-degree (in purple) defined by a pending w-x-y-xx-(z) and a lesser-degree 1-2-3-4-(5) impulse, both of which hold a high-probability of corroborating with the predictive/forecasting model's target at 93.611.

This apical level would possibly complete a over-throw at Point-e, satisfying a bearish Ending Diagonal requirement.


OVERALL:

The original chart of interest rests at the 4-hour level. However, this 1-hour timefarme offers a chance to calibrate a reversal level in support of the predictive/forecasting analysis effected in the H4 level, which sees a dominant bearish control in price.


INVALIDATION:

The analysis should be considered invalid IF and once price commits to a level higher than Point-W = 93.968.


David Alcindor
Predictive Analysis & Forecasting
Denver, Colorado - USA


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