Completed Wolfe's 5-Prime | $USD $CAD #Loonie #Forex #BOC #FED

FX:USDCAD   U.S. Dollar / Canadian Dollar
710 2 6

As you might recall, on March 12th, I presented this pair as I warned about the imminent possibility of a price reversal at Wolfe's Point-5 might (review analysis here: https://www.tradingview.com/v/el0TAb2z/).

Instead, price action sought out a loftier level at 5-prime (5'), where it currently consolidates. 5-prime represents one of two potential adverse excursion (second one extends off of the projection of the 2-4 Line departing from Point-1 - not drawn).

At this point, this trader's directional bias has turned neutral, while the predictive analysis signal has turned neutral-to-bullish.

My directional bias would turn neutral to bearish if price broke and closed below the level of Point-3, or $1.11910, and would strengthen if price was to break below and close below the 1-3-5 Line.

Independent from my directional bias, the predictive analysis and forecasting system would regain a bearish stance based on its one set of conditions, but at the moment, there remain neutral to bullish , as already indicated.

I will continue to keep an eye on this Loonie and interject technical comments whenever relevant.


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

PS: If you liked the analysis, feel free to give it a "Thumb Up" and pass of a friendly referral to friends interested in occult market mathematics and hidden geometries. All targets generated are defined by non-price means, and confirmed by either proprietary patterns (Euclid, Janus, Great White, Deep Shark ), or other well known patterns. However, we concentrate mainly on Shark , 5-0 and occasional Bats, to complement our predictive analysis and forecasting - Cheers, David Alcindor.

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David Alcindor
Predictive Analysis &Forecasting

- All signals, analyses and forecasts are for educational purposes. Do your own due diligence. Use TradingChart.com to share your analyses with me or friendly traders on the site.
21 MAR 2014 - Chart Update:

So far, 5-prime position held and delivered its counter-trend bearish impact. No new technical outlook or events have occurred to contradict prior analyses.


David Alcindor
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