Update: Nears Target | $USD $JPY $Gold $Copper #BOJ #forex $USDX
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:
1 - TG-1 = 104.095, moderate probability
and
2 - TG-Hi = 105.475, low probability.
(see original USDJPY chart: tradingview.com/v/ctOy3BSx/)
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.
(see: AUDUSD chart: tradingview.com/v/CxMkl3fg/)
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.
(See: Copper chart: tradingview.com/v/NcukjkeE/)
OVERALL:
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
- 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:
1 - TG-1 = 104.095, moderate probability
and
2 - TG-Hi = 105.475, low probability.
(see original USDJPY chart: tradingview.com/v/ctOy3BSx/)
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. (see: AUDUSD chart: tradingview.com/v/CxMkl3fg/)
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.(See: Copper chart: tradingview.com/v/NcukjkeE/)
OVERALL:
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
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.