Nearing A Potential Reversal | $EUR $USD #ECB #FED #Forex $GLD

24 AUG 2014 - Update:

From Twitter:
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EURUSD - Model signals a potential reversal in the 1.21988 to 1.32097 range:



via TradingView | EUR USD #Forex
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Traders,

Aside from the model's signaling a potential reversal in the 1.21988 to 1.32097 range, one has to also look at the WEEKLY chart (see WEEKLY chart below) to appreciate that current price is resting at the 38.2% significant Fibonacci level.


EURUSD - WEEKLY:



In addition, that same WEEKLY timeframe would also reveal that on the Elliott Wave basis, a corrective A-B-C pattern is nearing its geometric patterning right at a point where a perfect symmetry would also be reached - see DAILY chart below.


EURUSD - DAILY:




OVERALL:

Predictive/forecasting model, simple Fibonacci data and Elliott Wave corrective geometry are all lining up to suggest a potential reversal in the 1.21988 to 1.32097 range.


Cheers,


David Alcindor
Predictive Analysis & Forecasting
Denver, Colorado - USA


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Twitter: 4xForecaster
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