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Archive for October, 2010

The Fed and "Plunge Protection Team": Are They Manipulating Stocks?

Saturday, October 30th, 2010

By Elliott Wave International

Out of thousands of questions recently submitted to us at Elliott Wave International, the most frequent one received is: "Can the Fed manipulate the stock market?" Read our expert’s answer on this and other misleading “investment wisdom.” Read more.

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Daily Forex Analysis – October 29, 2010

Friday, October 29th, 2010

EURUSD Analysis.
Being contained by 1.3698 support, EURUSD rebounded from 1.3734, suggesting that sideways movement in a range between 1.3698 and 1.4152 is underway. Lengthier consolidation in the trading range is expected in a couple of days, and further rise to 1.4000 area to reach next cycle top would more likely be seen later today.

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Daily Forex Analysis – October 28, 2010

Thursday, October 28th, 2010

GBPUSD Analysis.
GBPUSD may be forming a cycle top at 1.5895 level on 4-hour chart. Another fall to re-test 1.5649 key support is expected later today, a break below this level will confirm the cycle top, then deeper decline could be seen to 1.5500-1.5550 area. Only break above 1.5649 level could suggest that lengthier correction of downtrend from 1.6105 is underway.

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Bob Prechter’s New Report: The Next Major Disaster Developing for Bond Holders

Wednesday, October 27th, 2010

If you have money in mutual funds, Treasury bonds, municipal bonds or high-yield bonds, Robert Prechter has just issued a crystal-clear warning for you: Your money could be at risk.

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Daily Forex Analysis – October 27, 2010

Wednesday, October 27th, 2010

USDJPY Analysis.
USDJPY broke above the falling price channel on 4-hour chart and reaches as high as 81.70. Key resistance is at 81.91, as long as this level holds, the price action in the trading range between 80.41 and 81.91 is treated as consolidation of downtrend from 85.92, and one more fall to 80.00 is still possible. However, a break above 81.91 key resistance will indicate that the downtrend from 95.92 has completed at 80.41 already, then the following upward move could bring price to 83.00-84.00 area.

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Daily Forex Analysis – October 26, 2010

Tuesday, October 26th, 2010

EURUSD Analysis.
EURUSD traded in a range between 1.3698 and 1.4152. Initial support is at 1.3860, as long as this level holds, another rise towards 1.4152 key resistance is expected later today, a break above this level could indicate that the uptrend from 1.2587 (Aug 24 low) has resumed, then further rise 1.4500 is possible. However, below 1.3860 will suggesting lengthier consolidation in the trading range is underway, then deeper decline towards 1.3698 could be seen.

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Daily Forex Analysis – October 25, 2010

Monday, October 25th, 2010

EURUSD Analysis.
EURUSD stays in a trading range between 1.3698 and 1.4152. Another rise to test 1.4152 key resistance is still possible later today, a break above this level will indicate that the uptrend from 1.2587 has resumed, then further rise towards 1.4500 could be seen. Support is at 1.3860, below this level could bring price back towards 1.3698 key support.

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Daily Forex Analysis – October 22, 2010

Friday, October 22nd, 2010

AUDUSD Analysis.
AUDUSD’s uptrend from 0.8771 has completed at 0.9998 already. Range trading between 0.9661 and 0.9890 would more likely be seen later today. Support is at 0.9661, a breakdown below this level could trigger another fall to 0.9500 area. Key resistance is at 0.9998, only break above this level could indicate that the uptrend from 0.8771 has resumed, then further rise to 1.0100-1.0200 could be seen.

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Daily Forex Analysis – October 21, 2010

Thursday, October 21st, 2010

AUDUSD Analysis.
AUDUSD broke below the lower border of the rising price channel on 4-hour chart and reached as low as 0.9661 level, suggesting that the uptrend from 0.8771 has completed at 0.9998 already. Another fall to 0.9500 area is expected in next several days. Resistance is now at 0.9998, only break above this level could trigger another rise to 1.0100-1.0200 area.

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Daily Forex Analysis – October 19, 2010

Tuesday, October 19th, 2010

USDCHF Analysis.
USDCHF has reached the upper border of the price channel on 4-hour chart, suggesting that a cycle bottom has been formed at 0.9463 level. Further rally towards 0.9727 is still possible later today, a break above this level will indicate that the fall from 1.0277 has completed at 0.9463 already, then the following upward move could bring price to 1.0000 zone. However, as long as 0.9727 key resistance holds, downtrend is expected to resume, and another fall to 0.9300 is expected.

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