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Archive for November, 2009

Daily Forex Analysis – November 19, 2009

Thursday, November 19th, 2009

USDCAD Analysis.
USDCAD stays in a trading range between 1.0416 and 1.0617. The price action from 1.0416 is more likely consolidation of downward trend from 1.0852. Another rise to test the upper border of the rising price channel on 4-hour chart is possible later today, as long as the channel resistance holds, downtrend is expected to resume and one more fall towards 1.0206 previous low could be seen. However, a clear break above the channel resistance will indicate that the fall from 1.0852 has completed at 1.0416 already, then the following uptrend could take price to re-test 1.0852 resistance.

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Daily Forex Analysis – November 18, 2009

Wednesday, November 18th, 2009

USDCAD Analysis.
USDCAD broke above the falling price channel on 4-hour chart. However, the rise can reach 1.0617 level only. Now the fall from 1.0617 is more likely resumption of downtrend from 1.0852, and another fall towards 1.0206 previous low is still in favor. Key support is at 1.0416, a break below this level will indicate that a short term cycle top has been formed at 1.0617 and confirm the resumption of downtrend. On the up side, above 1.0617 will suggest that the fall from 1.0852 has completed at 1.0416 already, then further rally could be seen to 1.0700 zone.

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Daily Forex Analysis – November 17, 2009

Tuesday, November 17th, 2009

USDCHF Analysis.
USDCHF stays in a trading range between 1.0035 and 1.0193. Moving sideways without trend in the range is expected later today. However, the price action from 1.0035 is more likely consolidation of downward trend from 1.0338, another fall towards 0.9900 is still possible after consolidation, and a breakdown below 1.0035 could signal resumption of downtrend.

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Daily Forex Analysis – November 16, 2009

Monday, November 16th, 2009

GBPUSD Analysis.
GBPUSD is forming a short term cycle bottom at 1.6515 level on 4-hour chart. Now the rise from 1.6515 is possibly be resumption of uptrend from 1.5708, a break above 1.6840 key resistance will confirm the cycle bottom and signal another rally towards 1.7042 (Aug 5 high). Support level is at 1.6515, below this level will suggesting that the uptrend from 1.5708 has completed at 1.6841 level already, then the following downtrend could take price back to 1.6300-1.6350 area.

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If Stocks Tank, Shouldn’t Gold Soar?

Saturday, November 14th, 2009

The following article is provided courtesy of Elliott Wave International (EWI). For more insights that challenge conventional financial wisdom, download EWI’s free 118-page Independent Investor eBook.

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Daily Forex Analysis – November 13, 2009

Friday, November 13th, 2009

AUDUSD Analysis.
After breaking above 0.9326 previous high resistance, AUDUSD dropped below 0.9254 key support, suggesting that a short term cycle top has been formed at 0.9368 level on 4-hour chart and the rise from 0.8916 has completed. Pullback towards 0.9000 zone would more likely be seen in next several days. Resistance level is now located at 0.9368, only rise above this level will indicate that uptrend from 0.8916 has resumed, then next target would be at 0.9500 area.

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10 Complimentary Lessons to Separate Yourself from the Investment Herd

Thursday, November 12th, 2009

Learn more about the method that has kept Robert Prechter out of the herd and in the game for more than three decades. His company, Elliott Wave International, has an extremely useful Elliott Wave Tutorial for free online. It’s broken up into 10 lessons across 50 pages, so it’s easy to read and review at your leisure. Learn more about the free Tutorial.

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Daily Forex Analysis – November 12, 2009

Thursday, November 12th, 2009

GBPUSD Analysis.
As expected, GBPUSD formed a short term cycle top at 1.6841 level on 4-hour chart. Deeper decline is still possible later today and next target would be at 1.6400 zone. However, the fall from 1.6841 is more likely consolidation of uptrend from 1.5708, another rise towards 1.7042 (Aug 5 high) could be seen after consolidation. Resistance is now at 1.6700, above this level could signal resumption of uptrend.

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Daily Forex Analysis – November 11, 2009

Wednesday, November 11th, 2009

EURUSD Analysis.
Being contained by 1.5062 previous high resistance, EURUSD pulled back from 1.5019, suggesting that a minor consolidation of uptrend from 1.4626 is on the way. Another fall towards the lower border of the rising price channel is possible later today. However, as long as the channel support holds, we’d expect uptrend to resume and further rise towards 1.5200 could be seen after consolidation. Key resistance is at 1.5062, above this level will confirm the resumption of long term uptrend from 1.3748 (June 16 low).

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Finance’s Euphoria: The Epilogue — What Record High Dollar Volume of Trading Says About Confidence

Tuesday, November 10th, 2009

The following article was adapted from the November 2009 Elliott Wave Financial Forecast and reprinted with permission here. Until Nov. 11, you can read the rest of this brand-new report for free, during Elliott Wave International’s FreeWeek of U.S. forecasts. Learn more about FreeWeek, and download the rest of this report and others for free here.

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