$USD v $SGD: S/T Bearish; L/T Bullish; 50% Support At #fibonacci
1552
Friends,
In the most immediate terms, USDSGD is expected to meet significant headwinds at 1.46884, although the Predictive/Forecasting Model, perceives a possibility of a more proximate bearish entrenchment at the 1.43398 mark.
In the longer-term (L/T) prospect, the Predictive/Forecasting Model defined the following qualitative targets:
1 - (L/T) TG-Hi = 1.53511 - 04 SEP 2015
and
2 - (L/T) TG-Hix = 1.57801 - 04 SEP 2015
PROSPECT:
In the most immediate term, I would pay particular attention to the aforementioned 1.43398 and 1.46884 marks - These targets are defined as Qualt-Target and Quant-Target, respectively, such that:
1 - (S/T) TG-Hi = 1.43398 - 04 SEP 2015
and
2 - TG-1 = 1.46884 - 04 SEP 2015
SEEKING SUPPORT: WAVES, FIBONACCI & STRUCTURES:
If price BACA > 1.43398, then give it a chance to express an internal Elliott Wave 5th wave extension up to 1.46884, a level at which bears are expected to significantly push price back.
If price reaches that level, a Fibonacci retracement to its 50% level should be considered, based on concurrent structural levels in the 1.31653 vicinity, which would represent 1st wave completion (not shown) in terms of Elliott Wave development.
GEO DEVELOPMENT:
In terms of occult geometry, there is room here to consider the possibility of a Geo expression, with its 5-point plots defined as follows:
1 - 1-2 Leg remains a reciprocal ab = cd symmetry. For those familiar with the Geo, Point-2 described in this particular Geo is adjusted as a departure point. True Point-2 remains a the base of the Geo. A similar adjustment is made for Point-4 wherein the departure from termination of Elliott Wave's point-2 serves as an adjustment to this Geo's Point-4, whereas the true Point-4 would rest where the current Elliott Wave's 4th wave correction is defined - More on these adjustment in subsequent lessons.
2 - 2-3 Leg remains a complex Elliott Wave DZZ or TZZ. In reference to the adjustments just mentioned, you will see that the true Point-2 ("T2") and Point-3 would be connected by a zz-imp-zz internal construction, or simply a DZZ.
3 -3-4 Leg is typically a simple Elliott Wave ZZ, as in this particular case.This is also the point of repose of TWO discreet, but important technical events:
a -- The Geo's Point-1 falls in line with Geo's Point-4
b -- Point-1 of the Geo represents a higher-degree EW Wave-1 termination level in line with a lesser EW wave-4 termination level. Expect this level to be re-visited as we move forward, which is what the "Model" defines as a strong structural level of support.
Note that as price crosses above the 1-3 Line, Point-5 receives validation, but an ectopic point-5 as 5' is more probable.
An alternate pathway would otherwise offer the following possibility:
In this particular case, the Geo would take into consideration a reaction to the most proximal TG-Hi = 1.43398 target, the expected support at 50.0% Fibonacci = 1.31653, and a reactive rally to complete Point-5 of the Geo at the longer-term TG-1 = 1.46884.
OVERALL:
Limited upside potential in the most proximate timeframes. A foreground Predictive/Forecasting Model is net bullish in the longer frames, but warns of a significant pullback at finer granular frames. Heed the Geo's plots as a probable mechanism of transition between these S/t and L/T frames.
Best,
David Alcindor Predictive Analysis & Forecasting Durango, Colorado - USA