$NZD Nears Bullish Shark Completion; Sees 5-0 Completion #forex
Traders,
There is little question that the fundamentals have pulled the carpet from underneath this export-dependent economy, and that a slumping Asian theater demand will do nothing supportive for this currency.
However, on a technical basis, there is a possibility of a Bullish Shark reversal at the 0.81335 level. This pattern is often flanked with its acolyte, namely the 5-0 pattern, whose namesake points to a 50% retracement of the Shark conclusive swing.
Overlay of predictive/forecasting model has produced the following probable targets - listed in expected chronological visits:
1 - TG-1 = 0.81335 - 10 SEP 2014
2 - TG-Hi = 0.84838 - 10 SEP 2014
and
3 - TG-2 = 0.7866 - 10 SEP 2014
As indicated earlier this evening in the Forex Intel Room (link: www.tradingview.com/chat/ ):
"ANZ hit target on its $NZDUSD Short circa 0.82 (Medium-Term) at a profit of +400 pips"
This major bank's relief of its bearish pressure on the $NZD supposes that a lightening up of institutional weight combined with above proposed technical reasoning, may indeed provide the mechanical lift to see it rise to the defined targets above.
I will continue to use this chart to post $NZD-related charting and technical commentaries, including occasional Forex Intelligence on major banks' FX positioning from linked room above.
Cheers,
David Alcindor
Predictive Analysis & forecasting
Denver, Colorado - USA
------------------
Twitter: @4xForecaster
------------------
There is little question that the fundamentals have pulled the carpet from underneath this export-dependent economy, and that a slumping Asian theater demand will do nothing supportive for this currency.
However, on a technical basis, there is a possibility of a Bullish Shark reversal at the 0.81335 level. This pattern is often flanked with its acolyte, namely the 5-0 pattern, whose namesake points to a 50% retracement of the Shark conclusive swing.
Overlay of predictive/forecasting model has produced the following probable targets - listed in expected chronological visits:
1 - TG-1 = 0.81335 - 10 SEP 2014
2 - TG-Hi = 0.84838 - 10 SEP 2014
and
3 - TG-2 = 0.7866 - 10 SEP 2014
As indicated earlier this evening in the Forex Intel Room (link: www.tradingview.com/chat/ ):
"ANZ hit target on its $NZDUSD Short circa 0.82 (Medium-Term) at a profit of +400 pips"
This major bank's relief of its bearish pressure on the $NZD supposes that a lightening up of institutional weight combined with above proposed technical reasoning, may indeed provide the mechanical lift to see it rise to the defined targets above.
I will continue to use this chart to post $NZD-related charting and technical commentaries, including occasional Forex Intelligence on major banks' FX positioning from linked room above.
Cheers,
David Alcindor
Predictive Analysis & forecasting
Denver, Colorado - USA
------------------
Twitter: @4xForecaster
------------------
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