As per predictive/forecasting model, price hit target dead-on. This occurred right about market close, which may be what this market needed to offer a surprise "releif rally" to the next model's target, defined last September 10th as:
TG-Hi = 0.84838 - 10 SEP 2014
(see recent analysis via TradingView's "Related Ideas" linked below).
More refined analysis and forecasting as market re-opens.
Have a wonderful week-end.
Predictive Analysis & Forecasting
Denver, Colorado - USA
Alias: 4xForecaster (Twitter, LinkedIn, StockTwits)
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$NZDUSD weaved around first target; RSI looks taut for a retrace ... To targets?
@tradingview | $NZD $USD #Forex
Daily notes, technical commentaries, lessons and pearls will be provided in the "Predictive Analysis & Forecasting" chat room. Feel free to follow these added details there (Link: https://www.tradingview.com/chat/#5eHLst6YxeVqGlaO). Only significant technical events will be posted in this present discussion thread, so as to avoid too much unnecessary technical information for the trader and chartist interested only in major technical events.
From Predictive Analysis & Forecasting Chat Room - Link: https://www.tradingview.com/chat/#5eHLst6YxeVqGlaO
"Price remains taut per RSI in mid-20's.
Significant 50% symmetry has been achieved in recent price consolidation around the TG-1 level.
A H4 magnification (not shown here) also suggests a geometric completion of a potential WW/ vs. EW's Ending Triangle.
Overall: Current geometries favor rally. Look into your own familiar indicators for a possible relief rally from here.
David Alcindor "