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Archive for January, 2009

Daily Forex Analysis – January 19, 2009

Monday, January 19th, 2009

EURUSD Analysis.
EURUSD breaks above 1.3336 resistance, suggesting that a short term cycle bottom has been formed at 1.3026 level on 4-hour chart, and the fall from 1.3797 has completed. Consolidation in a range between 1.3026 and 1.3390 is expected in a couple of days. Initial support is located at 1.3210 followed by 1.3026, only fall below 1.3026 will signal resumption of the medium downtrend from 1.4719.

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How to Use Elliott Wave Analysis to Boost Your Forex Trading

Friday, January 16th, 2009

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Daily Forex Analysis – January 16, 2009

Friday, January 16th, 2009

EURUSD Analysis.
EURUSD’s downtrend from 1.3797 extends further to as low as 1.3026 level. Deeper decline is still possible in a couple of days, and short term target would be at 1.2900 zone. Key resistance is now located at 1.3336, a break above this level will indicate that the fall from 1.3797 has completed and a short term cycle bottom has been formed on 4-hour chart, and then consolidation in a range between 1.3026 and 1.3500 could be seen.

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Can the Government Stop Another Great Depression?

Friday, January 16th, 2009

The following article is excerpted from a recent issue Elliott Wave International’s Financial Forecast.

Elliott Wave International (EWI) is offering the full 10-page issue, entitled “The Most Important Investment Report You’ll Read in 2009,” free for a limited time. In addition to the following market commentary, it includes independent forecasts of stocks, bonds, metals, the U.S. dollar and economic trends.

Visit EWI to download the full report, free.

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Daily Forex Analysis – January 15, 2009

Thursday, January 15th, 2009

GBPUSD Analysis.
Being supported by the previous low at 1.4350, GBPUSD forms a sideways consolidation in a range between 1.4469 and 1.4706. Further fall is still possible after consolidation. A break down below 1.4469 will indicate that the consolidation has completed already and deeper decline could be seen to 1.4100 level. Key resistance is at 1.4706, above this level will suggest that the fall from 1.5372 has terminated, and a short term cycle bottom has been formed at 1.4469 level, and then the following uptrend will take price back to retest 1.5372 previous high resistance.

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Daily Forex Analysis – January 14, 2009

Wednesday, January 14th, 2009

USDCAD Analysis.
USDCAD rebounds further to as high as1.2339 level. Moving higher to retest 1.2394 previous high resistance is still in favor. A break above this level will signal further rally towards 1.2700 zone. Initial support is now at 1.2190 followed by 1.2150, only fall below 1.2150 level will signal consolidation of the short term uptrend.

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Daily Forex Analysis – January 13, 2009

Tuesday, January 13th, 2009

USDCAD Analysis.
USDCAD breaks above 1.2070 resistance, further rally could be seen to retest 1.2394 previous high resistance. If this level gives way, the next target would be at 1.2700 zone. Near term support is at 1.2035, as long as this level holds, we’d expect the short term uptrend to continue.

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Daily Forex Analysis – January 12, 2009

Monday, January 12th, 2009

GBPUSD Analysis.
GBPUSD consolidates in a narrow range between 1.4983 and 1.5372. As long as 1.4983 level holds, we’d expect uptrend to resume, and further rally could be expected to retest 1.5722 previous high resistance. However, a break above 1.5372 level is needed to confirm the resumption of the short term bullish movement. On the other side, below 1.4983 will indicate that lengthier consolidation of the short term uptrend from 1.4350 is underway.

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Daily Forex Analysis – January 9, 2009

Friday, January 9th, 2009

USDCHF Analysis.
USDCHF formed a short term cycle top at 1.1277 level on 4-hour chart. Deeper decline is still possible to retest 1.0366 previous low support. Initial resistance is located at 1.1082 followed by 1.1277, only rise above 1.1277 level will signal further rally towards 1.1500 zone.

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Daily Forex Analysis – January 8, 2009

Thursday, January 8th, 2009

EURUSD Analysis.
EURUSD breaks above 1.3658 key resistance, suggesting that a short term cycle bottom has been formed at 1.3313 on 4-hour chart. However, the rise from 1.3313 is treated as consolidation of downtrend, one more fall is still possible to1.3100 zone after consolidation, and a break down below 1.3313 will confirm the resumption of downtrend.

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