As with the recent $AUDCHF trade released (see it in linked "related ideas"), this Swissy is showing some impetus.
Predictive/forecasting Model eyes the following TWO nominal targets:
1 - TG-Hi = 0.94292 - 21 JAN 2015
2 - TG-Hix = 0.99346 - 21 JAN 2015
The construct which characterized the recent swing is likely to reiterate an equal, but opposite anatomy following a simple consolidation at the recent nadir, thus suggesting either the precocious rise of a large consolidation towards these loftier targets.
For now, Model favors a rallying.
A failure to rally should prompt our attention to higher timeframes, and look for declines to lower lows. However, for the time being, I would set eyes on 0.91299 as the next probable level of R/S corresponding to former 4th wave termination level.
In contrast, a break of 0.88351 should guard us against any further in-roads, and instead prompt us to consider 0.84977 as the signal commitment. In which case, I would abandon this chart entirely.
Thank you for your continued readership and kind support,
Predictive Analysis & Forecasting
Denver, Colorado - USA
$USDCHF reaches into gap; Opens up to bearish targets; Bearish outlook:
@tradingview $USD $CHF #SNB #franc #forex
"Line in the sand" so to speak is as comment defined it: "Excursion > 1.01381 would change the Model's directional bias" - This simply means that for this timeframe, bears would lose their directional control if and once price breaks and closes above that mark.
In effect, this should prompt a re-analysis from a 4-times higher timeframe, implying that higher players have control of the underlying pair.
$USDCHF hit all targets; High prob. reversal at 0.99814; New prob. bearish targets:
@tradingview $CHF #franc #SNB
$USDCHF carves higher-highs as forecast; Extreme bullish target remains intact:
@tradingview $CHF #SNB #forex $USD