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Archive for March, 2010

Your Cheatin’ Chart Will Tell On You

Wednesday, March 31st, 2010

By Elliott Wave International

"Your cheating chart will tell on you."

Hank Williams may not have known about Elliott waves, but he did know when a story doesn’t add up.
Such is the case with the nominal rise of the Dow Jones Industrials from 2000 to 2007. In the language of country music, this stock index has a "Cheatin’ Chart" — it doesn’t tell the real story.

Download Robert Prechter’s FREE 40-Page Gold and Silver eBook. This valuable ebook explores the role of gold in today’s markets like no other resource has attempted. You will get more than Prechter’s long-term outlook on gold and silver; you’ll also learn how gold still plays an important role in determining the real value behind nominal share prices. Learn more, and download your Gold and Silver eBook here.

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Daily Forex Analysis – March 31, 2010

Wednesday, March 31st, 2010

EURUSD Analysis.
EURUSD might be forming a cycle top at 1.3537 level on 4-hour chart. The fall from 1.3537 could possibly be resumption of downtrend from 1.3817, another fall towards 1.3000 is possible in next several days. Resistance is now at 1.3537, only rise above this level could signal another rally to 1.3700 or even 1.3800.

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Fibonacci Techniques for Math Geeks — and Everyone Else, Too

Tuesday, March 30th, 2010

By Editorial Staff

The word Fibonacci (pronounced fib-oh-notch-ee) can draw either blank stares or an enthusiastic response. There’s hardly any in-between ground. But for those who ask how an esoteric mathematical relationship can apply to price charts and trading, here’s a quick lesson. Everyone who uses Elliott wave analysis will sooner or later want to try using Fibo techniques, and Elliott Wave International’s Jeff Kennedy has written about five of them in a Trader’s Classroom column. For an example of why people are so fascinated by Fibonacci, read part of Kennedy’s article here:

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Daily Forex Analysis – March 30, 2010

Tuesday, March 30th, 2010

AUDUSD Analysis.
AUDUSD broke above the downtrend line on 4-hour chart, suggesting that a cycle bottom has been formed at 0.9001, and the fall from 0.9250 has completed. Now the bounce from 0.9001 is treated as resumption of uptrend from 0.8577 February low. Another rise towards 0.9250 could be seen and minor consolidation would more likely be seen before breaking above this level.

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Daily Forex Analysis – March 29, 2010

Monday, March 29th, 2010

GBPUSD Analysis.
Being contained by 1.4784 previous low support, GBPUSD bounced from 1.4798. suggesting range trading between 1.4784 and 1.5001 is underway. However, the price action in the trading range is more likely consolidation of downtrend from 1.5382, another fall towards 1.4500 is possible after consolidation. On the other side, above 1.5001 resistance may suggest that a cycle bottom has been formed on 4-hour chart, then further rally could be seen to 1.5080 or even higher.

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Elliott Wave International’s Understanding the Fed eBook is now available

Friday, March 26th, 2010

Our friends at Elliott Wave International have just released a free 34-page eBook, Understanding the Fed. It’s the free report the Federal Reserve doesn’t want you to read!

This eye-opening free report, which represents more than 10 years of research by Robert Prechter, goes beyond the Fed’s history and government mandate; it digs into the Fed’s real motivations for being the United States’ "lender of last resort." In this 34-page report, you’ll discover how the Fed’s actions, combined with public outrage, may ultimately lead to its demise, plus much more about its secret activities and how it affects your money.

Download your free copy of EWI’s Understanding the Fed eBook, here.

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Daily Forex Analysis – March 26, 2010

Friday, March 26th, 2010

USDJPY Analysis.
USDJPY continues its upward movement from 89.76. One more rise towards 93.75 January high is still possible later today, however, minor consolidation would more likely be seen before breaking above this level. Support is now at 91.75, below this level will suggest that a cycle top has been formed on 4-hour chart, then sideways movement could be expected to follow.

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The Stock Market Is Patterned — Here’s Proof

Thursday, March 25th, 2010

By Editorial Staff

This is an excerpt from Elliott Wave International’s free Club EWI resource, "What Can a Fractal Teach Me About the Stock Market?" by EWI’s president Robert Prechter.

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Daily Forex Analysis – March 25, 2010

Thursday, March 25th, 2010

GBPUSD Analysis.
GBPUSD continues its downward movement from 1.5382 and the fall extended to as low as 1.4852 level. Deeper decline to test 1.4784 previous low support is expected later today. A breakdown below this level will indicate that the long term downtrend from 1.6875 (Nov 16, 2009 high) has resumed, then next target would be at 1.4500 area. Resistance is now at 1.5111, as long as this level holds, downtrend will continue.

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Bob Prechter Reveals the Most Dangerous Gold & Silver Myths

Wednesday, March 24th, 2010

By Nico Isaac

Right now, the gold BULL-ion bandwagon is more crowded than a New York subway train during rush hour. But before you squeeze your way into the crowd of passengers, you should know one thing: Those steering the course are using outdated maps based on ill-conceived notions and illusory hopes.

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