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Archive for December, 2010

Daily Forex Analysis – December 21, 2010

Tuesday, December 21st, 2010

USDCHF Analysis.
Being contained by the falling trend line on 4-hour chart, USDCHF pulled back to as low as 0.9621. Key resistance is now at 0.9733, as long as this level holds, downtrend from 1.0066 could be expected to continue and one more fall to 0.9500 area is still possible. However, a break above 0.9733 will indicate that the fall from 1.0066 had completed at 0.9558 already, then the following upward move could bring price back towards 1.0066 previous high.
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Daily Forex Analysis – December 20, 2010

Monday, December 20th, 2010

AUDUSD Analysis.
AUDUSD trades in the bottom of the price channel on 4-hour chart. A clear break below the channel bottom line will indicate that the uptrend from 0.9537 had completed at 1.0027 already, then the following downward move could bring price to 0.9600-0.9650 area. However, as long as the channel support holds, one more rise towards 1.0182 previous high is still possible, and a break above 0.9950 could signal resumption of uptrend.

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New research: It’s dangerous to diversify — find out why

Friday, December 17th, 2010

Free Report: Death to Diversification — What it Means for Your Investment Strategy | Our friends at Elliott Wave International, the world’s largest market forecasting firm, have just released a new report about the little-known dangers of diversification strategy. Continue reading to learn more, or. follow this link to download the free report now.

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Daily Forex Analysis – December 17, 2010

Friday, December 17th, 2010

USDCHF Analysis.
USDCHF stays below a falling trend line on 4-hour chart and remains in downtrend from 1.0066. As long as the trend line resistance holds, downtrend is expected to continue and one more fall to 0.9500 is still possible. Only a clear break above this trend line resistance could indicate that the downward movement from 1.0066 has completed at 0.9561 already, then the following uptrend could bring price to 1.0200 area.

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Daily Forex Analysis – December 16, 2010

Thursday, December 16th, 2010

EURUSD Analysis.
EURUSD is forming a cycle top at 1.3497 level on 4-hour chart. Deeper decline to test 1.3165 key support is expected later today, a breakdown below this level will confirm the cycle top, then the following downward move could bring price to 1.2500 area.

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Daily Forex Analysis – December 15, 2010

Wednesday, December 15th, 2010

EURUSD Analysis.
After breaking above 1.3437 resistance, EURUSD pulled back from 1.3497, suggesting that a cycle top is being formed on 4-hour chart. Now the fall from 1.3497 could possibly be resumption of downtrend, deeper decline to test 1.3165 key support would likely be seen, a breakdown below this level will confirm the resumption of downtrend. Resistance is at 1.3497, only break above this level could take upside further to 1.3600 area.

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Daily Forex Analysis – December 14, 2010

Tuesday, December 14th, 2010

GBPUSD Analysis.
GBPUSD remains in uptrend from 1.5484 and the rise extended to as high as 1.5896 level. Support is at the uptrend line on 4-hour chart, now at 1.5733, as long as the trend line support holds, uptrend is expected to continue and next target would be at 1.6000 area. Key support is at 1.5719, only break below this level could indicate that the upward move from 1.5484 is complete.

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Daily Forex Analysis – December 13, 2010

Monday, December 13th, 2010

USDJPY Analysis.
USDJPY consolidated below 84.40 previous high resistance and pulled back to as low as 83.45 level. Another rise to test 84.40 is expected later today, a break above this level will indicate that the uptrend from 80.30 has resumed, then further rise to 85.50 area could be seen. Support is at 83.45, only break below this level could bring price back to 82.00 zone.

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How a "Dull" Investment Can Be a Great Investment

Friday, December 10th, 2010

By Elliott Wave International

I spent my childhood discussing the stock market at the dinner table. My dad was a stock broker, and he loved to "tell the story" of the stocks he recommended to customers — a story that included critical information about the industry, the products, earnings, and the outlook for the future. Most children might find it dull, but I was mesmerized.

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Daily Forex Analysis – December 10, 2010

Friday, December 10th, 2010

USDJPY Analysis.
Being contained by 84.40 resistance, USDJPY pulled back from 84.30. However, the fall from 84.30 is likely consolidation of uptrend, another rise to re-test 84.40 key resistance is still possible later today, a break above this level will indicate that the uptrend from 80.30 has resumed, then next target would be at 85.00 area.

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