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Archive for December, 2010

Keep Ahead of the Herd in 2011

Friday, December 31st, 2010

By Elliott Wave International

Have you ever noticed that much of the time, the forecasts for what’s going to happen next are quite often just more of what happened last? There’s no real insight, just “expect more of the same.”

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Daily Forex Analysis – December 31, 2010

Friday, December 31st, 2010

EURUSD Analysis.
EURUSD broke above 1.3274 resistance. Now the price action from 1.2969 is more likely a sideways movement. Range trading between 1.2969 and 1.3497 could be seen in next several days. The sideways movement is treated as consolidation of longer term downtrend from 1.4281 (Nov 4 high), as long as 1.3497 key resistance holds, one more fall towards 1.2500 is still possible.

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What Really Moves the Markets: News? The Fed? The Real Answers Will Surprise You

Thursday, December 30th, 2010

By Elliott Wave International

"There is no group more subjective than conventional analysts, who look at the same ‘fundamental’ news event a war, interest rates, P/E ratio, GDP, economic policy, the Fed’s monetary policy, you name it and come up with countless opposing conclusions. They generally don’t even bother to study the data." — EWI president Robert Prechter, March 2004 Elliott Wave Theorist.

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Daily Forex Analysis – December 29, 2010

Wednesday, December 29th, 2010

AUDUSD Analysis.
AUDUSD stays above a uptrend line on 4-hour chart and remains in uptrend. As long as the trend line support holds, uptrend is expected to continue and another rise towards 1.0182 resistance is still possible later today. However, a clear break below this trend line will suggest that a cycle top is being formed. Key support is located at 0.9987, a breakdown below this level could bring price back to 0.9600-0.9700 area.

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Daily Forex Analysis – December 28, 2010

Tuesday, December 28th, 2010

AUDUSD Analysis.
AUDUSD’s upward movement from 0.9830 extends further to as high as 1.0079 level. As long as 0.9987 support holds, uptrend is expected to continue and next target would be at 1.0110 area. On the downside, below 0.9987 will indicate that a cycle top has been formed on 4-hour chart, and the rise from 0.9830 has completed, then the following bearish movement could bring price back to 0.9600-0.9700 area.

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Daily Forex Analysis – December 27, 2010

Monday, December 27th, 2010

USDCHF Analysis.
Being supported by 0.9463 (Oct 14 low), USDCHF rebounded from 0.9497 and broke above the downtrend line on 4-hour chart, suggesting that a cycle bottom is being formed. Further rally towards 0.9733 key resistance is expected, a break above this level will confirm that the downtrend from 1.0066 has completed, then the following upward move could bring price back towards 1.0066 previous high. However, as long as 0.9733 resistance holds, one more fall towards 0.9463 support is still possible.

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Long-Term Bonds: The Best Possible Investment? Think Again

Friday, December 24th, 2010

By Elliott Wave International

TREASURIES — the very name conveys a thing that is secure, protected, and will appreciate over time. Otherwise, it’d be called something like "TRASHeries" or "Mattress Stuffers." Then, there’s the official seal of the US Department of Treasury: its image of a scale and a key symbolize "balance" and "trust."

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Parachutes vs. Pillows: Why Diversification Doesn’t Work

Thursday, December 23rd, 2010

By Elliott Wave International

A dear friend of mine wants to celebrate an important health milestone by going skydiving with friends. She feels happy and healthy and excited. She wants to do something very thrilling to celebrate.

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Daily Forex Analysis – December 23, 2010

Thursday, December 23rd, 2010

USDJPY Analysis.
USDJPY’s fall from 84.49 extended further to as low as 83.37. Deeper decline is still possible later today and next target would be at 83.00 area. However, the next cycle bottom nearing, a break above 83.90 key resistance will indicate that the downward move has completed, then the following uptrend could bring price back to 85.00 area.

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Daily Forex Analysis – December 22, 2010

Wednesday, December 22nd, 2010

USDJPY Analysis.
USDJPY might be forming a cycle bottom at 83.50 level on 4-hour chart. Key resistance is at 84.00, a break above the level could confirm the cycle bottom and indicate that the fall from 84.49 has completed, then another rise to re-test 84.49 resistance could be seen. However, as long as 84.00 resistance holds, the pair remains in short term downtrend from 84.49, and one more fall to 83.00 is still possible.

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