Potential Reversal To 101.493 | $JPY $USD $Nikkei #BOJ #forex
SYNOPSIS:
Potential Reversal
- Condition: 115.551 failure
- Opens to:
1 - TG-Lo =104.750 - 05 JAN 2015
and
2 - TG-x =101.493 - 05 JAN 2015
Structural Relevance applies to latter ("TG-x =101.493 - 05 JAN 2015")
(Note that separate analysis on the UDX and USDollar index were denounced as potential bearish reversal contenders per predictive model - See third link attached below for these analyses.)
STANDARD GEOMETRY:
A projection of parallels define a plausible bearish channel, whose upper projection caps the most recent bullish impulse. The overall system defines a bearish channel with multiple validation points at specific R/S levels and gaps, adding credence to these lines.
Still, a set of condition remains to be met, as defined below.
ELLIOTT WAVES:
Recent rally appears to have reached a plausible 5th wave extension with internal dynamics of a completed impulse. A rallying to higher highs would cancel this proposition, but a break below 115.551 would add credence to further downside.
PREDICTIVE ANALYSIS & FORECASTING:
Predictive model has defined the targets just mentioned above. As indicated, the first nominal target calls for a low-probability attainment and high-probability reversal at 104.750. However, a worst-case scenario played out in the model comes defined as TG-x = 101.493. This latter low-probability target/very-high-probability reversal falls in line with a significant historical R/S level, as highlighted in the chart.
OVERALL:
Standard technical pattern, predictive model and two-degree wave count point to a potential resistance at recent structural high of 121.838.
If recent support at 115.551 fails, the floor would open possibly to the predictive model's forecasts of TG-Lo = 104.750 and TG-x = 101.493.
These bearish outlook corroborate well with recent bearish forecast against the USD. For the time being, the directional bias remains set at "Neutral" based on mitigating reasons defined above.
Stay tuned,
David Alcindor
Predictive Analysis & Forecasting
Denver, Colorado - USA
-----
Twitter: @4xForecaster
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Potential Reversal
- Condition: 115.551 failure
- Opens to:
1 - TG-Lo =104.750 - 05 JAN 2015
and
2 - TG-x =101.493 - 05 JAN 2015
Structural Relevance applies to latter ("TG-x =101.493 - 05 JAN 2015")
(Note that separate analysis on the UDX and USDollar index were denounced as potential bearish reversal contenders per predictive model - See third link attached below for these analyses.)
STANDARD GEOMETRY:
A projection of parallels define a plausible bearish channel, whose upper projection caps the most recent bullish impulse. The overall system defines a bearish channel with multiple validation points at specific R/S levels and gaps, adding credence to these lines.
Still, a set of condition remains to be met, as defined below.
ELLIOTT WAVES:
Recent rally appears to have reached a plausible 5th wave extension with internal dynamics of a completed impulse. A rallying to higher highs would cancel this proposition, but a break below 115.551 would add credence to further downside.
PREDICTIVE ANALYSIS & FORECASTING:
Predictive model has defined the targets just mentioned above. As indicated, the first nominal target calls for a low-probability attainment and high-probability reversal at 104.750. However, a worst-case scenario played out in the model comes defined as TG-x = 101.493. This latter low-probability target/very-high-probability reversal falls in line with a significant historical R/S level, as highlighted in the chart.
OVERALL:
Standard technical pattern, predictive model and two-degree wave count point to a potential resistance at recent structural high of 121.838.
If recent support at 115.551 fails, the floor would open possibly to the predictive model's forecasts of TG-Lo = 104.750 and TG-x = 101.493.
These bearish outlook corroborate well with recent bearish forecast against the USD. For the time being, the directional bias remains set at "Neutral" based on mitigating reasons defined above.
Stay tuned,
David Alcindor
Predictive Analysis & Forecasting
Denver, Colorado - USA
-----
Twitter: @4xForecaster
-----
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