$AUD Signals Limited Retrace, Then Continued Bear | #Forex $USD
Friends,
Predictive/Forecasting Model indicated a probable limited retracement to:
- TG-Hi = 0.90287 - 24 SEP 2014
If and once reached, lower targets would come next per same Model, namely:
1 - TG-1 = 0.87038 - 24 SEP 2014
and
2 - TG-Lo = 0.85516 - 24 SEP 2014.
At the point, wave count remains probable at points 1 and 2. A reversal at current level would confirm completion of 3rd wave. As indicated above, TG-Hi @ 0.90287 represents a qualitative target generated by the model, but would also fall in line with a potential Wave-4 - Expect a 3-wave internal development to unfold if this retracement were occurred. Finally, from that loftier level, a 5-wave impulse would complete this motive - All eyes should be on the current price action, as it would define either a corrective move or a possible extension of current impulse leg in Wave-3.
OVERALL:
Chart favors bears. An interim correction is signaled my predictive/forecasting model, given the targets defined above. Look for
GOLD as well for correlated moves.
Cheers,
David Alcindor
Predictive Analysis & Forecasting
Denver, Colorado - USA
-----------------------
Twitter: 4xForecaster
-----------------------
PS: This
AUDUSD pair will be added to the daily technical discussions going on in TradingView.com's "Predictive Analysis & Forecasting" chat room, here: tradingview.com/chat/ - Currently being discussed are:
-
AUDNZD
-XAUUSD
-
EURUSD
-NZDUSD
-
GBPJPY
-
CADJPY
-
DAX
David Alcindor
Predictive/Forecasting Model indicated a probable limited retracement to:
- TG-Hi = 0.90287 - 24 SEP 2014
If and once reached, lower targets would come next per same Model, namely:
1 - TG-1 = 0.87038 - 24 SEP 2014
and
2 - TG-Lo = 0.85516 - 24 SEP 2014.
At the point, wave count remains probable at points 1 and 2. A reversal at current level would confirm completion of 3rd wave. As indicated above, TG-Hi @ 0.90287 represents a qualitative target generated by the model, but would also fall in line with a potential Wave-4 - Expect a 3-wave internal development to unfold if this retracement were occurred. Finally, from that loftier level, a 5-wave impulse would complete this motive - All eyes should be on the current price action, as it would define either a corrective move or a possible extension of current impulse leg in Wave-3.
OVERALL:
Chart favors bears. An interim correction is signaled my predictive/forecasting model, given the targets defined above. Look for
GOLD as well for correlated moves. Cheers,
David Alcindor
Predictive Analysis & Forecasting
Denver, Colorado - USA
-----------------------
Twitter: 4xForecaster
-----------------------
PS: This
AUDUSD pair will be added to the daily technical discussions going on in TradingView.com's "Predictive Analysis & Forecasting" chat room, here: tradingview.com/chat/ - Currently being discussed are:-
AUDNZD-
XAUUSD-
EURUSD-
NZDUSD-
GBPJPY-
CADJPY-
DAXDavid Alcindor
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