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Archive for November, 2010

Daily Forex Analysis – November 22, 2010

Monday, November 22nd, 2010

USDCHF Analysis.
After touching 0.9971 resistance, USDCHF traded in a narrow range between 0.9855 and 0.9997. Key support is at 0.9855, a breakdown below this level will indicate that a cycle top has been formed at 0.9997 level on 4-hour chart, then another fall towards 0.9463 previous low could be seen. On the other side, above 0.9997 will indicate that the pair remains in uptrend from 0.9548, then next target would be at 1.0100 area.

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Robert Prechter Explains The Fed, Part I

Saturday, November 20th, 2010

By Elliott Wave International

The ongoing financial crisis has made the central bank’s decisions — interest rates, quantitative easing (QE2), monetary stimulus, etc. — a permanent fixture on six-o’clock news.

Yet many of us don’t truly understand the role of the Federal Reserve.

For answers, let’s turn to someone who has spent a considerable amount of time studying the Fed and its functions: EWI president Robert Prechter. Today we begin a 3-part series that we believe will help you understand the Fed as well as he does. (Excerpted from Prechter’s Conquer the Crash and the free Club EWI report, "Understanding the Federal Reserve System.") Here is Part I.

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Free eBook teaches you how to apply Moving Averages to your trading or investing

Thursday, November 18th, 2010

Robert Prechter’s Elliott Wave International (EWI) has just released a free 10-page trading eBook: How You Can Find High-Probability Trading Opportunities Using Moving Averages, bySenior AnalystJeffrey Kennedy.

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Daily Forex Analysis – November 18, 2010

Thursday, November 18th, 2010

USDCHF Analysis.
Being contained by 0.9971 resistance, USDCHF pulled back from 0.9975. Support is at 0.9820, as long as this level holds, uptrend from 0.9548 is expected to continue and another rise to 1.0100 is still possible. However, a breakdown below 0.9820 will indicate that a cycle top has been formed at 0.9975 on 4-hour chart and the rise from 0.9548 has completed, then range trading between 0.9463 and 1.0000 could be seen to follow.

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Daily Forex Analysis – November 17, 2010

Wednesday, November 17th, 2010

AUDUSD Analysis.
AUDUSD continues its downward movement from 1.0182 and the fall extended to as low as 0.9724 level. Deeper decline towards 0.9651 key support is still possible later today, a breakdown below this level will suggest that the long term uptrend from 0.8066 (May 25 low) has completed at 1.0182 already, then the following downward move could bring price to 0.9000 or even lower. Resistance is at 0.9919, only break above this level could indicate that the fall from 1.0182 has completed, then another rise towards 1.0182 previous high could be seen.

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Daily Forex Analysis – November 16, 2010

Tuesday, November 16th, 2010

EURUSD Analysis.
EURUSD continues its downward movement and the fall extended to as low as 1.3560 level. Deeper decline is still possible later today and next target would be at 1.3450-1.3500 area. Key resistance is at 1.3825, only break above this level could indicate that a cycle bottom has been formed on 4-hour chart, and the fall from 1.4281 has completed.

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Daily Forex Analysis – November 15, 2010

Monday, November 15th, 2010

EURUSD Analysis.
EURUSD’s downward move from 1.4281 extended to as low as 1.3574 level. As long as 1.3825 key resistance holds, the bounce from 1.3574 is treated as consolidation of downtrend and another fall to 1.3450-1.3500 area is still possible. However, a break above 1.3825 resistance will indicate that the fall from 1.4281 has completed at 1.3574 already, then the following upward move could bring price back to 1.4000-1.4100 area.

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How Analyzing Forex with Elliott Wave Can Help You Catch Both Rallies and Declines

Saturday, November 13th, 2010

By Elliott Wave International

On November 1, the EUR/USD — the euro-dollar exchange rate and the most actively-traded forex pair — was trading the $1.38 range, near the level it is today.

But if you look at what the EUR/USD did between November 1 and 9, you’ll see a huge 400-point (or pip, in forex lingo) rally into the November 4 top — and an equally huge decline back to the levels we see today.

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EWI’s FOREX FreeWeek is now on: Get charts, analysis and forecasts for the Dollar, Euro, Yen and more

Friday, November 12th, 2010

Our friends at Elliott Wave International have just announced the beginning of their 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.

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Daily Forex Analysis – November 12, 2010

Friday, November 12th, 2010

EURUSD Analysis.
EURUSD continues its downward move from 1.4281, and the fall extends to as low as 1.3601 level. Resistance is at 1.3825, as long as this level holds, downtrend is expected to continue and next target would be at 1.3500 area. However, a break above 1.3825 resistance will indicate that a cycle bottom has been formed on 4-hour chart and the fall from 1.4281 has completed.

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