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Archive for June, 2011

A Four-Chart Lesson in Spotting Trade Setups

Thursday, June 30th, 2011

By Elliott Wave International

You can find low-risk, high-probability trading opportunities by trading with the trend. The trick is to find the end of market corrections, so you can position yourself for the next move in the direction of the trend.

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Daily Forex Analysis – June 30, 2011

Thursday, June 30th, 2011

GBPUSD Analysis.
GBPUSD is facing the resistance of the downtrend line from 1.6441 to 1.6261, a clear break above the trend line resistance will indicate that a cycle bottom had been formed at 1.5912, then lengthier consolidation of downtrend from 1.6546 could be seen. On the other side, downtrend could be expected to resume after touching the trend line resistance, and another fall towards 1.5500 could be seen after breaking below 1.6000 level.

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What Will Happen to the Stock Market When QE2 Ends?

Wednesday, June 29th, 2011

By Elliott Wave International

The second round of the Federal Reserve’s quantitative easing program, better known as QE2, will expire this week.

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Daily Forex Analysis – June 29, 2011

Wednesday, June 29th, 2011

AUDUSD Analysis.
AUDUSD had formed a cycle bottom at 1.0390 on 4-hour chart. Further rise towards the upper border of the price channel is expected later today. As long as the channel resistance holds, the bounce from 1.0390 is treated as consolidation of downtrend from 1.0773, and one more fall towards 1.0250 is still possible. Only a clear break above the channel could indicate that the fall from 1.0773 had completed at 1.0390 already, then another rise towards 1.1011 previous high could be seen.

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Can the Fed and Economists Forecast the Future? See This Startling Chart.

Tuesday, June 28th, 2011

By Elliott Wave International

Business Talk Radio host Gabriel Wisdom recently spoke with Pete Kendall, Co-Editor of EWI’s Elliott Wave Financial Forecast. Their discussion included a crucial but rarely asked question about economists and the Federal Reserve. Here’s the relevant excerpt:

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Daily Forex Analysis – June 27, 2011

Monday, June 27th, 2011

USDCHF Analysis.
USDCHF broke below 0.8326 previous low and reached as low as 0.8315. Resistance is at downtrend line on 4-hour chart, as long as the trend line resistance holds, downtrend from 0.8550 could be expected to continue, and next target would be at 0.8200 zone. However, a clear break above the trend line resistance will indicate that lengthier consolidation of the long term downtrend from 1.1730 (2010 high) is underway, then further rally could be seen to 0.8650.

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How to Spot Trading Opportunities — complimentary 47-page eBook

Friday, June 24th, 2011

Free 47-Page eBook: How to Spot Trading Opportunities
Elliott Wave International has released a free 47-Page eBook, How to Spot Trading Opportunities. Created from the $129 two-volume set of the same name, it’s available free until July 6. Learn more.

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Daily Forex Analysis – June 24, 2011

Friday, June 24th, 2011

USDCAD Analysis.
Being supported by the uptrend line from 0.9444 to 0.9669, USDCAD rebounded from 0.9701. Range trading between 0.9669 and 0.9898 would likely be seen in a couple of days. As long as 0.9669 key support holds, the price action in the range is treated as consolidation of uptrend from 0.9444, and one more rise towards 1.0000 is still possible after consolidation. However, a breakdown below 0.9669 will indicate that the uptrend from 0.9444 had completed at 0.9898 already, then the following downward move could bring price to 0.9500-0.9550 area.

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Daily Forex Analysis – June 23, 2011

Thursday, June 23rd, 2011

USDCAD Analysis.
USDCAD had reached the uptrend line from 0.9444 to 0.9669. Deeper decline to test 0.9669 support would likely be seen later today, a breakdown below this level will confirm that the rise from 0.9444 had completed at 0.9898 already, then the following downward move could bring price back to 0.9500-0.9600 area. However, as long as 0.9669 support holds, the fall from 0.9898 is treated as consolidation of uptrend from 0.9444, and one more rise towards 1.0000 is still possible.

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Daily Forex Analysis – June 22, 2011

Wednesday, June 22nd, 2011

AUDUSD Analysis.
AUDUSD traded in a range between 1.0477 and 1.0715 for several days. Resistance is at the upper border of the price channel on 4-hour chart. As long as the channel resistance holds, the price action in the range is treated as consolidation of downtrend from 1.0773, and a breakdown below 1.0477 will signal resumption of downtrend. However, a clear break above the channel resistance will indicate that the downtrend from 1.0773 had completed at 1.0477 already, then another rise towards 1.1011 previous high could be seen.

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