01 APR 2014 - Synopsis: - USDollar index strengthens - USDJPY moves towards defined target - Copper rises in relief rally, limited to 3.149
Friends,
Just about a month ago, my predictive analysis and forecasting system posted a bullish signal indicating a market reversal to the upside, as well as two lofty targets, namely:
On the back of improving US domestic fundamentals combined with a continuation of a easing monetary policy in Japan, the net effect is carrying out its expected rallying in the pair.
Structural hurdles at 103.580 (weak) as well as 103.749 might repel bears back, but this bullish trend remains strong and is expected to overcome these intermediary levels.
Overnight, GOLD was offering early signs of a bearish market reversal, although further evaluation of the metal and a final bearish market reversal confirmation is needed at this point first. If indeed gold continued to soften and finally turned bearish, I would expect further decline in its positively correlated currencies, namely AUD, NZD, CAD and to a certain extent CHF.
Other commodities such as COPPER are also expected to be handicap by this potential gold weakening. For instance, my current Copper chart (not included) has shown some bullish strength, but this may represent a limited relief rally, capped at a structural 3.149 level, which pattern traders might recognized as a 5-0 pattern completion.
Trend remains bullish; target are intact; expecting USD to strengthen on the back of relative improvement in domestic data combined with a "race to the bottom" in other currencies, which is expected to reflexively buoy the US Dollar through sovereign mechanisms that are seeking to devalue the countries own currencies, especially in the face of a falling Yuan, which would leave competing exporters in an otherwise unfavorable relative to China. Scattered fundamental events will likely carry push the USD to new levels up and away.
Cheers,
David Alcindor Predictive Analysis and Forecasting
If interested to receive my TradingView forecast instantly through Twitter: Simply follow me: @4xForecaster. Here is a recent forecast: tradingview.com/v/52ONNlC8/
------------------------------------- Disclaimer: - Remember to remain dubious about every and any thing I say. All comments are subjective perceptions based on unshared, proprietary and common knowledge of fundamental analysis, classic technical analysis, basic and advanced pattern trading, as well as personal research in occult market geometries, predictive analysis and quant-based forecasting, some or none of which is being shared in my trading profiles, so do your due diligence and review the disclaimer below. - 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
Comments
4xForecaster
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02 APR 2014 - Chart Update:
As the USDJPY pair carves out new highs, one should remain open to the possibility of a significant unwinding, by as much as 50% of the recent bullish impulse.
Such price unwinding to the downside would find a significant support near 102.563.
A trader interested in shorting this would effectively enter against a prevalent bullish trend.
(all trades and links will point back to TradingView: No off-site commercial trap, no bull and no fee.
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Mirandole
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Thanks for your analysis.
Best Regards,
Serge :)
4xForecaster
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Here is the attached chart with potential short opp:
Cheers,
David Alcindor
Mirandole
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Wonderful ! Thx again :)
4xForecaster
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ADDENDUM:
Clarification: If USD turned bearish (i.e.: break of 103.428), then look for floor to open up to little structural resistance. Chart above defined 102.563, however, a proprietary pattern ("Janus Pattern") defines 102.550 as next probable level of support, IF and only IF price turned, which based on the confluence of predictive analysis/forecasting and Janus pattern, is quite a probability.
Time shall tell as always.
Cheers,
David Alcindor
Mirandole
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Do you think that yellow line 103.580 could be a nice support ?
Loser123
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thanks man im new here ... im watching now your posts its really good
Mirandole
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Come on ! What is that nickname ! Change it now for Winner123, plzzz ! :)
As the USDJPY pair carves out new highs, one should remain open to the possibility of a significant unwinding, by as much as 50% of the recent bullish impulse.
Such price unwinding to the downside would find a significant support near 102.563.
A trader interested in shorting this would effectively enter against a prevalent bullish trend.
Cheers,
David Alcindor
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Follow my signals on Twitter:
@4xForecaster
(all trades and links will point back to TradingView: No off-site commercial trap, no bull and no fee.
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