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Archive for September, 2009

Dive into EWI’s FreeWeek Now!

Friday, September 18th, 2009

Our friends at Elliott Wave International have just announced the beginning of their wildly popular FreeWeek event, where they throw open the doors to some of their most popular paid services to non-subscribers for one week only.

For the first time ever, EWI is providing complete access to The Asian-Pacific Short Term Update and The European Short Term Update, but only until Sept. 23.

Markets move fast, so having an independent forecasting and near-term opportunity-spotting service on your side is more important now than ever. FreeWeek lets you see for yourself, and each day for one full week will show you clearly labeled price charts with updated analysis of all the major equity markets in the European and Asian-Pacific regions.

If you’re not taking part in EWI’s Asian-Pacific and European Short Term Update FreeWeek right now, you’re already missing the valuable opportunities your peers are getting for free, and FreeWeek only lasts from now until noon Wednesday, September 23.

Dive into EWI’s FreeWeek Now!

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Daily Forex Analysis – September 18, 2009

Friday, September 18th, 2009

USDJPY Analysis.
USDJPY trades in a range between 90.12 and 91.62. As long as 91.62 resistance holds, the price action from 91.20 is treated as consolidation of downtrend from 97.78, and deeper decline to 89.00-89.50 area is possible. However, a break above 91.62 will indicate that a short term cycle bottom has been formed at 90.12 and the downtrend from 97.78 has completed, then the following uptrend will take price back to 94.00 zone.

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Daily Forex Analysis – September 17, 2009

Thursday, September 17th, 2009

USDJPY Analysis.
After touching 90.20 previous low, USDJPY rebounded sharply from 90.12, suggesting that a short term cycle bottom is being formed. Key resistance is now located at 91.62, a break above this level will confirm the cycle bottom and indicate that the downtrend from 97.78 has completed at 90.12 level already, then the following uptrend will take price back to 94.00 zone. Near term support is at 90.12, only fall below this level will signal deeper decline to 89.00-89.50 area.

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Robert Prechter’s Five Tips for How To Trade Successfully

Wednesday, September 16th, 2009

Take it from the person who won the United States Trading Championship with profits of more than 440% in 1984 – there are five things that every successful trader needs to know how to do:

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Daily Forex Analysis – September 16, 2009

Wednesday, September 16th, 2009

USDJPY Analysis.
USDJPY stays below the falling trend line from 97.78 to 93.29 and remains in downtrend, and the rebound from 90.20 is more likely consolidation of downtrend. As long as the trend line resistance holds, we’d expect downtrend to resumed and deeper decline to 89.00 is still possible after consolidation. However, a clear break above the trend line resistance will indicate that the fall from 97.78 has completed.

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Daily Forex Analysis – September 15, 2009

Tuesday, September 15th, 2009

GBPUSD Analysis.
GBPUSD broke below the lower border of the rising price channel on 4-hour chart. Range trading between 1.6454 and 1.6741 is expected in a couple of days. However, the price action from 1.6741 is more likely consolidation of uptrend from 1.6113, one more rise towards 1.6900 zone is still possible after consolidation and a break above 1.6741 will signal resumption of uptrend. Key support is at 1.6454, only fall below this level will indicate that the rise from 1.6113 has completed at 1.6741 level already, then the following downtrend will take price back to re-test 1.6113 support.

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Daily Forex Analysis – September 14, 2009

Monday, September 14th, 2009

GBPUSD Analysis.
Being contained by the upper border of the rising price channel, GBPUSD pulled back from 1.6741 level. Deeper decline is expected to the lower border of the price channel. However the fall from 1.6741 is treated as consolidation of uptrend from 1.6113. As long as the channel support holds, we’d expect the uptrend to resume and further rise to 1.6850-1.6900 area is possible after consolidation, and a break above 1.6741 will signal resumption of uptrend.

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Daily Forex Analysis – September 11, 2009

Friday, September 11th, 2009

AUDUSD Analysis.
AUDUSD might be forming a short term cycle top at 0.8667 level on 4-hour chart, key support is located at 0.8528, a break below this level will confirm the cycle top, then consolidation in a range between 0.8450 and 0.8667 could be seen to follow. However, a break above 0.8667 will indicate that the uptrend from 0.0.8239 has resumed and the next target would be at 0.8750-0.8800 area.

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Free 47-Page eBook: How to Spot Trading Opportunities

Thursday, September 10th, 2009

Elliott Wave International has just released a free 47-Page eBook, How to Spot Trading Opportunities. Created from the $129 two-volume set of the same name, it’s available free until September 23, 2009. Learn more.

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Daily Forex Analysis – September 10, 2009

Thursday, September 10th, 2009

EURUSD Analysis.
EURUSD’s uptrend from 1.4177 extends to as high as 1.4599 level. Further rise is still in favor and next target would be at 1.4650-1.4700 area. Near term support is at 1.4467, as long as this level holds, uptrend will continue. However, a break below 1.4467 level will indicate that a short term cycle top has been formed on 4-hour chart, then deeper decline is expected to follow and target would be at 1.4400 zone.

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