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Archive for January, 2011

Daily Forex Analysis – January 20, 2011

Thursday, January 20th, 2011

GBPUSD Analysis.
GBPUSD may be forming a cycle bottom at 1.6058 level on 4-hour chart. Consolidation in  a range between 1.5800 and 1.6058 would likely be seen in a couple of days. As long as 1.5800 level holds, uptrend could be expected to resume and one more rise towards 1.6298 (Nov 4, 2010 high) is still possible and a break above 1.6058 could signal resumption of uptrend.

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Free eBook: 5 Ways You Can Use Trendlines to Improve Your Trading Decisions Continue reading to learn more

Wednesday, January 19th, 2011

Robert Prechter’s Elliott Wave International (EWI) has just released a free 14-page trading eBook: Trading the Line – 5 Ways You Can Use Trendlines to Improve Your Trading Decisions, by Senior Analyst Jeffrey Kennedy.

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Daily Forex Analysis – January 18, 2011

Tuesday, January 18th, 2011

EURUSD Analysis.
Being contained by 1.3497 resistance, EURUSD pulled back from 1.3456, suggesting that a cycle top is being formed on 4-hour chart. Range trading between 1.3200 and 1.3456 is expected in a couple of days. However, the fall is likely consolidation of uptrend from 1.2874, one more rise to re-test 1.3497 key resistance is still possible, a break above this level could indicate that the longer term downtrend from 1.4281 (Nov 4, 2010 high) had completed at 1.2874 already, then the following bullish move could bring price towards 1.4281 previous high.

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Daily Forex Analysis – January 17, 2011

Monday, January 17th, 2011

EURUSD Analysis.
EURUSD’s upward move from 1.2874 extended to as high as 1.3456 last week. Support is at 1.3300, as long as this level holds, one more rise to test 1.3497 resistance is still possible, a break above this level will indicate that the longer term downtrend from 1.4281 (Nov 4, 2010 high) had completed at 1.2874 already, then the following upward movement could bring price back towards 1.4281 previous high. On the downside, below 1.3300 will suggest that a cycle top is being formed at 1.3456 level on 4-hour chart, then pullback to 1.3200 area could be seen.

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Understanding the Federal Reserve Bank

Friday, January 14th, 2011

By Elliott Wave International

Despite so much focus on the policies of the Fed, its operations remain somewhat of a mystery to most investors — in no smaller measure, due to their complexity. So, we put together a free resource for our Club EWI members: a 35-page report that explains the Fed, its goals and, very importantly, its limitations in layman’s terms.

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Daily Forex Analysis – January 14, 2011

Friday, January 14th, 2011

EURUSD Analysis.

EURUSD bounced strongly to as high as 1.3383 level. The price action from 1.2969 (Nov 30, 2010 low) is likely consolidation of longer term downtrend from 1.4281 (Nov 4, 2010 high). Further rise towards 1.3497 (Dec 14, 2010 high) is still possible later today, however, downtrend is expected to resumed before breaking above this level. Support is at 1.3265 followed by 1.3190, below these levels will suggest that a cycle top has being formed on 4-hour chart, and the rise from 1.2874 has completed.

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Daily Forex Analysis – January 13, 2011

Thursday, January 13th, 2011

USDCHF Analysis.
USDCHF may be forming a cycle top at 0.9783 level on 4-hour chart. Key support is at 0.9604, a breakdown below this level will confirm the cycle top and indicate that the rise from 0.9300 had completed, then the following downward move could bring price back to 0.9400-0.9500 area. Resistance is at 0.9783, only break above this level could trigger another rise to 9900 zone.

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Daily Forex Analysis – January 12, 2011

Wednesday, January 12th, 2011

AUDUSD Analysis.
AUDUSD continues its downward movement from 1.0255 and the fall extended to as low as 0.9803 level. Deeper decline is still possible in a couple of days and next target would be at 0.9700-0.9750 area. Initial resistance is at 0.9890 and key resistance is at 0.9991, only break above these level could indicate that the downtrend from 1.0255 is complete.

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Daily Forex Analysis – January 11, 2011

Tuesday, January 11th, 2011

AUDUSD Analysis.
AUDUSD remains in downtrend from 1.0255 and the fall extends to as low as 0.9856 level. Deeper decline is still possible in a couple of days and next target would be at 0.9700-0.9750 area. Resistance is at 0.9991, only break above this level could indicate that a cycle bottom has been formed on 4-hour chart, then sideways consolidation could be seen.

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Daily Forex Analysis – January 10, 2011

Monday, January 10th, 2011

EURUSD Analysis.
EURUSD’s downward movement extends to as low as 1.2885 level. Deeper decline is still possible later today and next target would be at 1.2750 area. Initial resistance is at 1.3025, only break above this level could indicate that minor consolidation of downtrend is underway, then bounce to 1.3100-1.3200 area could be seen.

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