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Archive for April, 2011

Daily Forex Analysis – April 20, 2011

Wednesday, April 20th, 2011

USDJPY Analysis.
USDJPY remains in downtrend from 85.51. The bounce from 82.18 is likely consolidation of downtrend. 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 resume, and another fall towards 81.50 is still possible after consolidation. However, a clear break above the channel resistance will indicate that a cycle bottom is being formed at 82.18, then further rally could be seen to 83.45 zone.

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Daily Forex Analysis – April 18, 2011

Monday, April 18th, 2011

USDCHF Analysis.
USDCHF remains in downtrend from 0.9339, and the fall extended to as low as 0.8895, the price action from 0.8895 is treated as minor consolidation of downtrend. Another fall would likely be seen after consolidation, and next target would be at 0.8800 zone. Resistance is at 0.8975, only break above this level will indicate that lengthier consolidation of downtrend is underway, then range trading between 0.8895 and 0.9050 could be seen to follow.

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Learn How to Use Bar Patterns to Spot Trade Setups

Friday, April 15th, 2011

By Elliott Wave International

To many novice investors, chart patterns might as well be tea leaves. Can they really tell you anything reliable? And even if they can, how in the world do you know what to look for?

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Daily Forex Analysis – April 15, 2011

Friday, April 15th, 2011

AUDUSD Analysis.
AUDUSD stays in a trading range between 1.0389 and 1.0581. As long as 1.0389 key support holds, the price action in the trading range is treated as consolidation of uptrend from 0.9704, another rise towards 1.1000 is still possible, however a break above 1.0581 is needed to confirm the resumption of uptrend. On the other side, a breakdown below 1.0389 will indicate that the uptrend from 0.9704 had completed at 1.0581 already, then deeper decline could be seen to 1.0100-1.0200 area.

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Thursday, April 14th, 2011

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Daily Forex Analysis – April 14, 2011

Thursday, April 14th, 2011

AUDUSD Analysis.
AUDUSD traded in a narrow range between 1.0389 and 1.0581. The price action in the range is likely consolidation of uptrend from 0.9704. As long as 1.0389 support holds, we’d expect uptrend to resume, and one more rise towards 1.1000 is still possible. However, a breakdown below 1.0389 will indicate that the upward movement from 0.9704 has completed at 1.0581 already, then the following downward move could bring price back to 1.0100-1.0200 area.

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Daily Forex Analysis – April 13, 2011

Wednesday, April 13th, 2011

USDCHF Analysis.
USDCHF’s fall from 0.9339 extended to as low as 0.8942. The pair is now facing 0.8922 previous low support, a breakdown below this level will confirm that the long term downtrend from 1.1730 (Jun 1, 2010 high) has resumed, then the following downward move could bring price to 0.8500 area. Resistance is at 0.9050, only break above this level could indicate that lengthier consolidation of long term downtrend is underway, then further rise could be seen to 0.9200 zone.

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Daily Forex Analysis – April 12, 2011

Tuesday, April 12th, 2011

USDCAD Analysis.
USDCAD stays below a downtrend line on 4-hour chart, and remains in downtrend from 0.9826, and the price action from 0.9526 is treated as consolidation of downtrend. As long as the trend line resistance holds, we’d expect downtrend to resume, and another fall towards 0.9400 is still possible. However, a clear break above the trend line resistance will indicate that lengthier consolidation of downtrend is underway, then further rally could be seen to 0.9650 zone.

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Daily Forex Analysis – April 11, 2011

Monday, April 11th, 2011

AUDUSD Analysis.
AUDUSD rose strongly to as high as 1.0581. Support is now at 1.0500, as long as this level holds, uptrend could b expected to continue, and next target would be at 1.0700 zone. However, below 1.0500 will indicate that a cycle top has been formed on 4-hour chart, then consolidation of uptrend could be seen.

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Daily Forex Analysis – April 8, 2011

Friday, April 8th, 2011

USDCAD Analysis.
USDCAD remains in downtrend from 0.9826, the price action from 0.9568 is treated as consolidation of downtrend. Resistance is at the falling trend line on 4-hour chart, as long as the trend line resistance holds, downtrend could be expected to continue, and next target would be at 0.9500 zone. However, a clear break above the trend line resistance will indicate that a cycle bottom has been formed at 0.9568 on 4-hour chart, then range trading between 0.9568 and 0.9650 could be seen.

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