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Archive for September, 2010

A Trader Walks Into A Bar… Pattern: HOP-portunity On Tap

Thursday, September 30th, 2010

By Elliott Wave International

There’s a little known joke among the trading community that goes like this: "A trader walks into a bar… pattern: ‘Ouch!’ "

Fact is, if you don’t know what you’re doing, price bar analysis can be a bit "painful." Finding a discernable pattern in their grouping can feel like finding a hair in a hay stack.

But if you have the right teacher — say someone who has used bar pattern analysis for twenty-plus years to signal dramatic moves in some the world’s most watched markets — well, then the discipline is invaluable. And right now, EWI is offering just that, free: the 15-page eCourse Book titled "How To Use Bar Patterns To Spot Trade Set-ups" by EWI’s chief commodity analyst and Futures Junctures Service editor Jeffrey Kennedy.

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Daily Forex Analysis – September 30, 2010

Thursday, September 30th, 2010

GBPUSD Analysis.
GBPUSD moves sideways in a range between 1.5719 and 1.5894. The price action in the trading range is treated as consolidation of uptrend from 1.5296. Support is at the lower border of the rising price channel, now at 1.5690, uptrend is expected to resume after touching the channel support. However, a clear break below the lower border will indicate that the uptrend from 1.5296 has completed at 1.5894 already, then the following downward move could bring price to re-test 1.5296 previous low support.

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Daily Forex Analysis – September 29, 2010

Wednesday, September 29th, 2010

GBPUSD Analysis.
GBPUSD stays in a rising price channel on 4-hour chart and remains in uptrend from 1.5296. As long as the channel support (now at 1.5660) holds, uptrend is expected to continue and another rise towards the upper border of the channel would more likely be seen. However, a clear break below the channel support will indicate that the rise from 1.5296 has completed, then another fall below 1.5296 previous low could be seen.

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Daily Forex Analysis – September 28, 2010

Tuesday, September 28th, 2010

USDCAD Analysis.
USDCAD formed a sideways consolidation in a range between 1.0191 and 1.0378. Bounce towards 1.0378 key resistance would more likely be seen, a break above this level will confirm that the downtrend from 1.0672 has completed at 1.0191 already, then the following upward move could bring price back to 1.0600 area. Key support is at 1.0191, only break below this level could indicate that the downtrend from 1.0672 has resumed, then further decline could be seen to 1.0150 area.

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Daily Forex Analysis – September 27, 2010

Monday, September 27th, 2010

AUDUSD Analysis.
After consolidation, AUDUSD continues its upward movement from 0.8771 and reaches as high as 0.9622 level. Further rise is still possible in a couple of days and next target would be at 0.9700-0.9750 area. Key support is now at 0.9462, as long as this level holds, uptrend could b expected to continue. However, a breakdown below 0.9462 will indicate that a cycle top has been formed on 4-hour chart, then pullback to 0.9300 area could be seen to follow.

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Prechter On Market Rally

Saturday, September 25th, 2010

(Note: This interview was originally recorded on September 20, 2010)

In the video below, Robert Prechter talks to Yahoo! Finance Tech Ticker host Aaron Task and Henry Blodget about extreme readings in various indicators that confirm his bear-market forecast.

Get Up to Speed on Robert Prechter’s Latest Perspective — Download this Special FREE Report Now.

Deflation: The Trend That’s Become Too Obvious To Ignore

Friday, September 24th, 2010

By Elliott Wave International

As the biggest credit bubble in history continues to shrink, consumer prices have stayed flat over the past several months, meaning there is no sign of inflation to come, despite growing commitments from the U.S. government.

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Daily Forex Analysis – September 24, 2010

Friday, September 24th, 2010

AUDUSD Analysis.
AUDUSD broke below the lower border of the rising price channel on 4-hour chart, suggesting that consolidation of uptrend is underway. Sideways movement in a range between 0.9430 and 0.9599 would more likely be seen. As long as 0.9330 key support holds, uptrend is expected to resume, and another rise to 0.9700-0.9750 area is still possible.

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Complimentary 90-page Deflation eBook from Robert Prechter Available Now

Thursday, September 23rd, 2010

New Deflation eBook Available Now: Our friends at Elliott Wave International have just released a complimentary 90-page ebook on deflation from Robert Prechter. As deflation fears are back in the news and most likely also on your mind, it’s more important than ever to — at very least — give the deflationary scenario a serious look. After all, deflation could pose a serious risk to your wealth if it occurs, and no one has explained the potential threats — and how you can survive them — better than Prechter. Even if government stimulus and out-of-control spending have you more convinced than ever that inflation is dead ahead, we recommend that you take a look at Prechter’s reasonable argument to the contrary — just in case the markets surprise everyone as they so often do. Download Your Free 90-Page Deflation eBook from Robert Prechter Now.

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Daily Forex Analysis – September 23, 2010

Thursday, September 23rd, 2010

USDCAD Analysis.
USDCAD broke below 1.0215 support and reached 1.0191 only, the subsequent bounce had bring price above 1.0349 key resistance, suggesting that a cycle bottom had been formed on 4-hour chart, and the fall from 1.0672 had completed. Further rally is now in favor and target would be at 1.0600 area. Key support is now at 1.0191, only break below this level could indicate that the downtrend from 1.0672 has resumed, then deeper decline could be seen to 1.0150 zone.

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