EURUSD Analysis.
EURUSD’s downward movement from 1.3283 extends to as low as 1.2722. Further decline could be seen after a minor consolidation, and next target would be at 1.2650 area. Resistance is at 1.2800, followed by the downward trend line on 4-hour chart, only a clear break above the trend line resistance could signal completion of the downtrend.
Daily Forex Analysis – May 16, 2012
May 16th, 2012Daily Forex Analysis – May 15, 2012
May 15th, 2012USDJPY Analysis.
After touching the upper line of the price channel on 4-hour chart, USDJPY pulls back from 80.18. The fall could possibly be resumption of the downtrend from 84.17 (Mar 15 high), further decline towards 78.00 would likely be seen over the next several days. Resistance remains at the upper line of the channel, only a clear break above the channel resistance could signal completion of the downtrend.
Daily Forex Analysis – May 14, 2012
May 14th, 2012USDJPY Analysis.
USDJPY is facing the resistance of the upper line of the price channel on 4-hour chart, a clear break above the channel resistance will signal completion of the downtrend from 84.17 (Mar 15 high), then further rise to 83.00 area could be seen. On the downside, the downtrend could be expected to resume after touching the channel resistance, and as long as the channel resistance holds, one more fall to 78.00 area to complete the downward movement is still possible.
Daily Forex Analysis – May 11, 2012
May 11th, 2012GBPUSD Analysis.
GBPUSD breaks above the downward trend line on 4-hour chart, suggesting that a cycle bottom is being formed on 4-hour chart. Further rise is still possible later today, and the target would be at 1.6230 area. However, the rise is likely correction of the downtrend from 1.6301, another fall is still possible and next target would be at 1.6000 area. Key resistance is at 1.6301, only break above this level could trigger another rise towards 1.6500.
Daily Forex Analysis – May 10, 2012
May 10th, 2012USDJPY Analysis.
USDJPY breaks below 79.63 previous low and reaches as low as 79.43, suggesting that a downtrend from 84.17 has resumed. Further decline could be expected in a couple of days, and next target would be at 79.00 area. Key resistance remains at the upper line of the price channel on 4-hour chart, only a clear break above the channel resistance could signal completion of the downtrend.
Daily Forex Analysis – May 9, 2012
May 9th, 2012USDJPY Analysis.
USDJPY moves sideways in a narrow range between 79.63 and 80.61. Resistance remains at the upper line of the price channel on 4-hour chart. As long as the channel resistance holds, downtrend could be expected to resume, and another fall towards 79.00 is possible after consolidation. On the other side, a clear break above the upper border of the channel will indicate that the downward movement from 84.17 has completed at 79.63 already, then the following upward movement could bring price to 83.00 zone.
Daily Forex Analysis – May 8, 2012
May 8th, 2012USDJPY Analysis.
USDJPY stays within a downward price channel on 4-hour chart, and remains in downtrend from 84.17, the bounces from 79.63 could be treated as consolidation of the downtrend. Another fall could be expected after consolidation, and next target would be at 79.00 area. Resistance is at the upper border of the price channel on 4-hour chart, only a clear break above the channel resistance could signal completion of the downtrend.
Daily Forex Analysis – May 7, 2012
May 7th, 2012AUDUSD Analysis.
AUDUSD breaks below 1.0225 previous low support and reaches as low as 1.0110, suggesting that the downtrend from 1.0855 (Feb 29 high) has resumed. Further decline could be expected after a minor consolidation, and next target would be at 1.0000 area. Resistance is at 1.0200, as long as this level holds, the downtrend from 1.0474 will continue.
The Manic-Depressive Stock Market: What to Make of It
May 4th, 2012By Elliott Wave International
The stock market: one week it acts like Dr. Jekyll, the next week it’s Mr. Hyde.
That shift can even occur in the course of a single session.
These dramatic fluctuations appear to be impulsive; and we know that impulse does not flow from cold reason. Even so, the Efficient Market Hypothesis would have us believe that investors are constantly applying reason and logic to reach some objective market pricing, via the latest news or measure of stock market valuation.
Daily Forex Analysis – May 4, 2012
May 4th, 2012USDJPY Analysis.
USDJPY remains in downtrend from 84.17, the price action from 79.63 is treated as consolidation of the downtrend. Resistance is at the upper line of the price channel on 4-hour chart, as long as the channel resistance holds, downtrend could be expected to resume, and another fall to 79.00 is still possible. On the other side, a clear break above the channel resistance will indicate that the downward movement from 84.17 has completed at 79.63 already, then the following upward movement could bring price back to 83.00 zone.
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