4xForecaster
Long

Retracing To 0.88701? | $USD $CHF #FED #SNB #forex

FX:USDCHF   U.S. Dollar / Swiss Franc
311 0 1
Friends,

I just posted a recap of the analysis and forecast as price action is nearing the initial target defined on March 26th, 2014, namely - See original forecast here: and today's recap: .

A closer look at the chart and a review of the recent fundamental data support an interim price retracement scenario, although I expect that it will do nothing to change the overall bullish predictive analysis and forecast target.

In reference to the current chart, I have defined a high-probability support target at 0.88701. The structural merit of this level can also be appreciated in its recent history, as it helped support price throughout the period between February 18th and February 28th, 2014. Pattern traders would probably find solace in an inverted head and shoulder, the right missing anatomy could be defined if this scenario works out as described above and in the greyed arrows in the chart.

Cheers,


David Alcindor
Predictive Analysis and Forecasting


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- Forecasts, analyses and directional opinions generated herein are for educational purposes only and are not trading recommendations. We trust that you will do your own due diligence first, then seek professional advice from a licensed professional, then enter the market at your own perils - David Alcindor - TradingView.com Alias: 4xForecaster
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