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Archive for July, 2010

Daily Forex Analysis – July 30, 2010

Friday, July 30th, 2010

USDJPY Analysis.
USDJPY formed a cycle top at 88.11 level on 4-hour chart. Now the fall from 88.11 is treated as resumption of downtrend from 92.88 (Jun 4 high). Further fall towards 84.82 (2009 low) is expected in next several days. Key resistance is at 88.11, only rise above this level could indicate that lengthier consolidation of downtrend is underway.

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Daily Forex Analysis – July 29, 2010

Thursday, July 29th, 2010

USDJPY Analysis.
USDJPY’s bounce from 86.26 extended to as high as 88.11 level. Further rise towards the upper boundary of the falling price channel on 4-hour chart is still possible, and next cycle top is nearing. Key support is at 86.80, a break below this level will indicate that a cycle top has been formed at 88.11, then the following downward movement could bring price towards 84.82 (2009 low).

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Daily Forex Analysis – July 28, 2010

Wednesday, July 28th, 2010

USDCHF Analysis.
USDCHF’s bounce from 1.0394 extended to as high as 1.0639 level. Further rally is still possible later today and target is to test 1.0675 key resistance, a break of this level will indicate that the downtrend started from 1.1730 (Jun 1 high) had completed at 1.0394 already, then longer term target would be at 1.0900 area. However, as long as 1.0675 resistance holds, the price action in the trading range between 1.0394 and 1.0675 is treated as consolidation of downtrend, and another fall to 1.0300 is still possible.

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Technicals vs. Fundamentals: Which are Best When Trading Crude Oil and Natural Gas?

Tuesday, July 27th, 2010

By Elliott Wave International

If "fundamentals" drive trend changes in financial markets, then shouldn’t the same factors have consistent effects on prices?

For example: Positive economic data should ignite a rally, while negative news should initiate decline. In the real world, though, this is hardly the case.

On a regular basis, markets go up on bad news, down on good news, and both directions on the same news — almost as if to say, "Talk to the hand cuz the chart ain’t listening."

Unable to deny this fly in the fundamental ointment, the mainstream experts often attempt to reconcile the inconsistencies with phrases like "shrugged off," "defied" or "in spite of."

That begs the next question: How do you know when a market is going to cooperate with fundamental logic and when it won’t? ANSWER: You don’t.

Get FREE access to Elliott Wave International’s most intensive forecasting service for the global Energy markets. Now through noon Eastern time July 28, you can get timely intraday charts, forecasts and analysis for Crude Oil and Natural Gas. You’ll also get daily, weekly and monthly analysis and forecasts for all major Energy markets and Energy ETFs. Access FreeWeek now.

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Daily Forex Analysis – July 27, 2010

Tuesday, July 27th, 2010

USDCHF Analysis.
USDCHF trades in a range between 1.0394 and 1.0675. Another rise towards 1.0675 resistance is expected later today. As long as this level holds, the price action in the range is treated as consolidation of downtrend from 1.1730 (Jun 1 high), and another fall to 1.0300 is still possible, and a breakdown below 1.0394 could signal resumption of downtrend, only rise above 1.0675 could indicate that the fall from 1.1730 has completed at 1.0394 already.

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Daily Forex Analysis – July 26, 2010

Monday, July 26th, 2010

USDJPY Analysis.
USDJPY’s bounce from 86.26 extends to as high as 87.71. Further rally to 88.00-88.50 area to reach the next cycle top on 4-hour chart is still possible. Resistance is at the upper boundary of the falling price channel, now at 88.60, as long as the channel resistance holds, the price action from 86.96 is treated as consolidation of downtrend from 94.98 (May 5 high), and another fall towards 84.82 (2009 low) is still possible, only a clear break above the channel resistance could indicate that the fall from 94.98 is complete.

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Video: The Real-Time Power of Elliott Wave Analysis

Friday, July 23rd, 2010

Mainstream financial analysts always look for ways to explain market action through news stories and events. Conventional wisdom states that news and inter-market correlations cause market booms and busts, but such explanations rely on selective presentation of the data. In this video, Elliott Wave International’s Asian-Pacific Financial Forecast Editor Mark Galasiewski shows you how Elliott wave analysis was able to predict Hong Kong’s late ’90s mania and its aftermath in real time — without looking at the news or the market’s "fundamentals."

Watch More about the Power of Elliott Wave Analysis in this FREE Video
Discover how Elliott wave analysis gives you a consistently logical explanation — and debunk one of the major myths of what caused the Asian Financial Crisis — in the free video, "The Real-Time Power of Elliott Wave Analysis: Debunking the Myths of the Asian Financial Crisis." Access Your FREE Video Now.

Daily Forex Analysis – July 23, 2010

Friday, July 23rd, 2010

EURUSD Analysis.
After touching the lower boundary of the rising price channel on 4-hour chart, EURUSD bounce from 1.2732. Now the rise from 1.2732 could possibly be resumption of uptrend from 1.2150. Another rise to 1.3200 area would more likely be seen in a couple of days. Key support is at 1.2732, only fall below this level could trigger another fall to 1.2600 zone.

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It’s FreeWeek at EWI: Get charts, analysis and forecasts for Crude, Nat Gas, Energy ETFs

Thursday, July 22nd, 2010

Our friends at Elliott Wave International have just announced the beginning of their wildly popular FreeWeek event, where they throw open the doors for you to test-drive some of their most popular premium services — at ZERO cost to you.

You can access EWI’s intraday, daily, weekly and monthly forecasts from EWI’s Energy Specialty Service right now through noon Eastern time Wednesday, July 28. This service is valued at $347/month, but you can get it FREE for one week only!

The timing couldn’t be better because Crude Oil and Natural Gas are both approaching important junctures. Opportunity is calling. This unique event only lasts a short time, so don’t delay!

Learn more and get instant access to EWI’s FreeWeek of Energy analysis and forecasts now — before the opportunity ends for good.

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Daily Forex Analysis – July 22, 2010

Thursday, July 22nd, 2010

USDCAD Analysis.
USDCAD is forming a triangle pattern on daily chart. Resistance is at the upper boundary of the pattern, now at 1.0605, a clear break above this level will indicate that the uptrend form 0.9930 has resumed, then another rise towards 1.0852 (May 25 high) could be seen. Support is located at the lower boundary of the pattern, now at 1.0321, a clear below this level could bring price towards 1.0000 area.

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