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Archive for January, 2010

Daily Forex Analysis – January 19, 2010

Tuesday, January 19th, 2010

USDCHF Analysis.
Being contained by resistance of the upper border of the falling price channel on 4-hour chart, USDCHF pulls back from 1.0291, suggesting that a short term cycle top is being formed. Consolidation in a range between 1.0200 and 1.0291 is expected later today. Key resistance is now located at 1.0291, a break above this level will indicate that the fall from 1.0507 has completed at 1.0132 already, then the following uptrend could bring price back towards 1.0507 previous high.

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Daily Forex Analysis – January 18, 2010

Monday, January 18th, 2010

AUDUSD Analysis.
After touching 0.9325 resistance, AUDUSD pulled back to 0.9174. A double top pattern is being formed on 4-hour chart and neck line is located at 0.9170, a break below this level will indicate that a short term cycle top has been formed and the uptrend from 0.8734 has completed, then deeper decline could be seen to 0.9000 or even 0.8850. resistance area is around 0.9325, only a clear break above this area will indicate that the uptrend from 0.8734 has resumed, then further rally could be seen to re-test 0.9404 (Nov 16, 2009 high) resistance.

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Saturday, January 16th, 2010

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Daily Forex Analysis – January 15, 2010

Friday, January 15th, 2010

USDCHF Analysis.
USDCHF broke above 1.0218 key resistance and formed a short term cycle bottom at 1.0132 level on 4-hour chart. Rise towards the upper border of the falling price channel is expected later today, and a clear break above the channel resistance will indicate that the downtrend from 1.0507 has completed, then another rise to 1.0800 could be seen. As long as the channel resistance holds, the price action from 1.0132 is treated as consolidation of downtrend and one more fall below 1.0132 is still possible after consolidation.

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Daily Forex Analysis – January 14, 2010

Thursday, January 14th, 2010

USDCAD Analysis.
Being contained by the falling trend line from 1.0745 to 1.0576, USDCAD dropped again from 1.0413, suggesting that a short term cycle top has been formed on 4-hour chart. Now the fall from 1.0413 is treated as resumption of downtrend from 1.0745. Another fall towards 1.0206 (Oct 15 low) is now in favor. Resistance remains at the falling trend line, followed by 1.0413, only rise above this level could indicate that the fall from 1.0745 has completed.

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Daily Forex Analysis – January 13, 2010

Wednesday, January 13th, 2010

AUDUSD Analysis.
AUDUSD broke below the rising trend line on 4-hour chart, suggesting that a short term cycle top is being formed on 4-hour chart. Range trading between 0.9123 and 0.9325 is expected. As long as 0.9123 support holds, we’d expect uptrend from 0.8734 to continue and one more rise towards 0.9404 (Nov 16, 2009 high) is still possible. However, a break below 0.9123 will indicate that the rise from 0.8734 has completed, then deeper decline could be seen to 0.9000 or even 0.8850.

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Why You Should Care About DJIA Priced in Gold

Tuesday, January 12th, 2010

The old adage says, "you are what you eat," and today we’re offering you a heaping portion of brain food.

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Daily Forex Analysis – January 12, 2010

Tuesday, January 12th, 2010

EURUSD Analysis.
EURUSD formed a short term cycle bottom at 1.4266 and bounced to as high as 1.4555. Further rally is still possible to 1.4650-1.4700 area. However, the pair could be forming a cycle top at 1.4555 level on 4-hour chart. Key support is now located at 1.4370, a break below this level will confirm the cycle top, then another fall to test 1.4218 previous low support could be seen to follow.

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Daily Forex Analysis – January 11, 2010

Monday, January 11th, 2010

EURUSD Analysis.
EURUSD has formed  a short term cycle bottom at 1.4266 level on 4-hour chart. Bounce to 1.4500 area to reach next cycle top is expected in a couple of days. The price action from 1.4218 is treated as consolidation of downtrend from 1.5144 (Nov 25, 2009 high), another fall is still possible after consolidation and a breakdown below 1.4257 key support will signal resumption of downtrend.

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Saturday, January 9th, 2010

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