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Archive for May, 2010

Complimentary Report: Explosive New Analysis About Euro and European Debt

Friday, May 21st, 2010

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Daily Forex Analysis – May 21, 2010

Friday, May 21st, 2010

EURUSD Analysis.
EURUSD breaks above 1.0244 resistance, suggesting that a cycle bottom has been formed at 1.2144 level on 4-hour chart. Range trading between 1.2144 and 1.2710 would more likely be seen in next several days. As long as 1.2710 resistance holds, the price action from 1.2144 is treated as consolidation of downtrend from 1.3691 (Apr 12 high), and another fall to 1.2000 is still possible after consolidation, however, above 1.2710 will indicate that the fall 1.3691 has completed at 1.2144 already, then the following uptrend could take price back to 1.3000 area.


Daily Forex Analysis – May 20, 2010

Thursday, May 20th, 2010

USDCAD Analysis.
USDCAD stays above a rising line from 1.0110 to 1.0246 and remains in uptrend. Further rally is still possible later today and target would be at 1.0575 area. Support is at the rising trend line now at 1.0310, as long as this level holds, uptrend could be expected to continue. However, a clear break below the trend line support will indicate that a cycle top has been formed at 1.0536 already, then another fall towards 0.9930 previous low could be seen.

What Becomes of a Broken Stock Market?

Wednesday, May 19th, 2010

By Elliott Wave International

You know what a mystery the Dow’s 1,000-point drop on May 6 has been.

Wall Street is looking for a smoking gun — a trader’s mistake, a computer glitch — but nothing definite has been found yet. 
If you’re familiar with Elliott wave analysis, last week’s shocking decline gets less mysterious. The chart you see below is from Robert Prechter’s latest, May Elliott Wave Theorist. Notice the price area where the drop occurred.


Daily Forex Analysis – May 19, 2010

Wednesday, May 19th, 2010

EURUSD Analysis.
EURUSD’s bearish movement extends further to as low as 1.2144 level. Deeper decline is still possible later today and next target would be at 1.2000 area. Resistance is at the falling trend line from 1.3093 to 1.2444, now at 1.2390, as long as this level holds, downtrend will continue. Key resistance is at 1.2444, above this level will suggest that a cycle bottom is being formed, then sideways consolidation of downtrend could be seen.


Daily Forex Analysis – May 18, 2010

Tuesday, May 18th, 2010

USDCHF Analysis.
USDCHF remains in uptrend from 1.0923 and the pullback from 1.1445 is treated as consolidation of uptrend. Range trading between 1.1250 and 1.1445 is expected in a couple of days. Support is at 1.1250, as long as this level holds, another rise to 1.1500-1.1550 area is still possible after consolidation and a break above 1.1445 could signal resumption of uptrend, only fall below 1.1250 level could indicate that a cycle top has been formed at 1.1445 on 4-hour chart, then deeper decline could be seen to 1.1200 area.

Daily Forex Analysis – May 17, 2010

Monday, May 17th, 2010

AUDUSD Analysis.
AUDUSD drops sharply to as low as 0.8731 and is testing 0.8715 key support, a breakdown below this level will indicate that the downtrend from 0.9381 has resumed, then deeper decline could be seen to 0.8600 area. Initial resistance is now at 0.8838, only rise above this level could trigger another rise to 92.00 area.


Signs of Deflation You Might Not be Able to See Clearly

Saturday, May 15th, 2010
By Editorial Staff, Elliott Wave International

The following market analysis is courtesy of Bob Prechter’s Elliott Wave International. Elliott Wave International is currently offering Bob’s recent Elliott Wave Theorist, free.


Daily Forex Analysis – May 14, 2010

Friday, May 14th, 2010

GBPUSD Analysis.
GBPUSD has formed a cycle top at 1.5053 level on 4-hour chart. Now the fall from 1.5053 could possibly be resumption of downtrend from 1.5522. Deeper decline to re-test 1.4475 previous low support is possible later today, a break below this level could confirm that the downtrend has resumed, then next target would be at 1.4300 area. Resistance is at the falling trend line, as long as the trend line resistance holds, downtrend will continue.


Prechter Describes The "Stunning Long-Term Elliott Wave Picture"

Thursday, May 13th, 2010

By Robert Folsom, Elliott Wave International

Please join me to consider a time in the stock market that lasted just under three years: 32 months, to be precise.

During this period a series of powerful rallies stand out clearly on a price chart. The shortest of these rallies was four weeks, the longest more than five months.


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