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Archive for April, 2011

Daily Forex Analysis – April 29, 2011

Friday, April 29th, 2011

USDCAD Analysis.
Being supported by 0.9453 previous low, USDCAD rebounded from 0.9463, suggesting that lengthier consolidation in a range between  0.9453 and 0.9575 is underway, and another rise to 0.9650 to reach next cycle top on 4-hour chart is still possible. Key support is at 0.9453, a break below this level will indicate that the downtrend from 0.9973 has resumed, then further decline could be seen to 0.9300-0.9400 area.

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How To Use Fibonacci Ratios in the Real World

Thursday, April 28th, 2011

By Elliott Wave International

What tools help you with the difficult task of identifying the market trend, riding it, and getting out before it reverses?

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Daily Forex Analysis – April 28, 2011

Thursday, April 28th, 2011

USDCAD Analysis.
USDCAD formed a sideways consolidation in a range between 0.9453 and 0.9575. As long as 0.9453 support holds, lengthier consolidation in the range is expected, and another rise to 0.9650 to reach next cycle top on 4-hour chart is still possible. On the other side, the fall from 0.9575 could possibly be resumption of downtrend from 0.9973, a breakdown below 0.9453 could trigger another fall towards 0.9300-0.9400 area.

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Daily Forex Analysis – April 27, 2011

Wednesday, April 27th, 2011

USDJPY Analysis.
USDJPY continued its downward movement from 85.51, and the fall extended further to as low as 81.26. Initial resistance is at the upper border of the price channel on 4-hour chart, as long as the channel resistance holds, the downward move could be expected to continue and next target would be at 80.50-81.00 area. Only a clear break above the channel resistance could indicate that the fall from 85.51 is complete, then further rally could be seen to 83.50 zone.

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Daily Forex Analysis – April 26, 2011

Tuesday, April 26th, 2011

USDJPY Analysis.
USDJPY stays in a falling price channel on 4-hour chart, and remains in downtrend from 85.51. Key resistance is now at 82.42, as long as this level holds, downtrend could be expected to continue, and next target would be at 81.00 area. On the other side, a break above 82.42 will indicate that a cycle bottom has been formed at 81.62 level on 4-hour chart, and the fall from 85.51 has completed, then the following upward movement could bring price back to 83.50 zone.

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Daily Forex Analysis – April 25, 2011

Monday, April 25th, 2011

USDJPY Analysis.
USDJPY remains in downtrend from 85.51, the price action from 81.62 is treated as consolidation of downtrend. Resistance is at the upper border of the price channel on 4-hour chart, downtrend could be expected to resume after touching the channel resistance. However, a clear break above the upper border of the channel will indicate that a cycle bottom has been formed, and the fall from 85.51 has completed at 81.62 already, then the following upward movement could bring price back to 83.50 area.

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Daily Forex Analysis – April 22, 2011

Friday, April 22nd, 2011

USDJPY Analysis.
USDJPY’s downward movement from 85.51 extended further to as low as 81.62. Resistance is at the upper border of the price channel on 4-hour chart, as long as the channel resistance holds, downtrend could be expected to continue and next target would be at 81.00 area. Only a clear break above the channel resistance could indicate that the downtrend from 85.51 is complete, then the following upward move could bring price back to 83.50 zone.

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Understanding the Fed

Thursday, April 21st, 2011

By Elliott Wave International

What exactly is the function of the Fed? If it’s to help the U.S. economy grow steadily, then how come in 2007-2009 we had the biggest stock market crash in decades followed by "the Great Recession" and a worldwide financial crisis?

For answers, let’s turn to someone who has spent a considerable amount of time studying the Fed and its functions: EWI’s president Robert Prechter.

This is an excerpt from a free Club EWI eBook, "Understanding the Fed." Enjoy — and for details on how to read this important 32-page eBook in full, free, look below.

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Daily Forex Analysis – April 21, 2011

Thursday, April 21st, 2011

USDJPY Analysis.
USDJPY stays in a falling price channel on 4-hour chart, and remains in downtrend from 85.51. Key resistance is located at 83.09, as long as this level holds, downtrend could be expected to continue, and next target would be at 81.50 area. However, a break above 83.09 will indicate that a cycle bottom has been formed, and the fall from 85.51 has completed at 82.18 already, then the following upward move could bring price back to 83.45 zone.

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Does Deflation Remain a Threat?

Wednesday, April 20th, 2011

By Elliott Wave International

"Every excess causes a defect; every defect an excess. Every sweet hath its sour…The waves of the sea do not more speedily seek a level from their loftiest tossing, than the varieties of condition tend to equalize themselves."

This quote comes from Ralph Waldo Emerson’s essay, "Compensation." He opens the essay with a poem which includes these two lines:

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