4xForecaster

Turning bullish? | $USDX $USD #FED $Gold #FED #USDX #forex

FX:USDOLLAR   Dollar Index
130 0 1
Friends,

The USDollar             index may stand to benefit from global currency devaluations, as each sovereign monetary policy may attempt to defend their economies in a way that could prop the USD up.

However, the US Dollar index             itself has remained mute in my system in terms of expressing any directional intention. Instead, only through Gold             and positively correlated major currencies , is there a sign of deterioration among dollar antipods. For this reason, the expectation in US Dollar             valuation to the upside is anecdotal at best.

In any case, preliminary targets have been defined, namely:

1 - TG-1 = 10733 - 01 APR 2014, low/moderate probability

and

2 - TG-Hi = 10955 - 01 APR 2014, low probability.


Looking at momental lines (ML), which are lines derived from geometrical projections, rather than mere parallel of top-to-top or bottom-to-bottom extension, price has held along its lowest achieved ML. A rallying from this level would add further credence to a probable bullish reversal, up to a first target as defined in the chart manifested by a declining ML upper border. A breach, followed by a resistance-turned-support of that line could help project price to our first target @ 10733.

However, all this remains a moot point until the system signals an early bullish market reversal, followed by a bullish market reversal confirmation. Until this occurs, I will keep an eye on this chart.

Cheers,


David Alcindor
Predictive Analysis and Forecasting


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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
David Alcindor, CMT Affiliate #227974
Alias: 4xForecaster (Twitter, LinkedIn, StockTwits)

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