As with the recent AUDCHF trade released (see it in linked "related ideas"), this Swissy is showing some bullish impetus.
Predictive/forecasting Model eyes the following TWO nominal targets:
1 - TG-Hi = 0.94292 - 21 JAN 2015
and
2 - TG-Hix = 0.99346 - 21 JAN 2015
The Elliott Wave construct which characterized the recent bearish 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 bearish 4th wave termination level.
In contrast, a break of 0.88351 should guard us against any further bullish in-roads, and instead prompt us to consider 0.84977 as the bearish signal commitment. In which case, I would abandon this chart entirely.
Thank you for your continued readership and kind support,
David Alcindor Predictive Analysis & Forecasting Denver, Colorado - USA
Excursion > 1.01381 would change the Model's directional bias
David
ElPatron.Y
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Are you saying we get an reverse movement now?
4xForecaster
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Hello @racks - Not sure what comment your question is referring to.
"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.
David
4xForecaster
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02 MAR 2015 - Update:
From Twitter/LinkedIn:
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USDCHF carves higher-highs as forecast; Extreme bullish target remains intact:
From Twitter/LinkedIn:
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USDCHF reaches into gap; Opens up to bearish targets; Bearish outlook:
@TradingView USD CHF #SNB #franc #forex
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David Alcindor