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Archive for November, 2011

Daily Forex Analysis – November 30, 2011

Wednesday, November 30th, 2011

USDCHF Analysis.
USDCHF had formed a cycle top at 0.9329 on 4-hour chart. Range trading between 0.9085 and 0.9329 would likely be seen in a couple of days. As long as 0.9085 support holds, the price action in the range is treated as consolidation of uptrend from 0.8569, another rise towards 1.0000 is still possible after consolidation, and a break above 0.9329 could signal resumption of uptrend. On the downside, a breakdown below 0.9085 will signal completion of uptrend, then pullback to 0.8400 could be seen.

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Prechter: "The Trend Is Exhausted"

Tuesday, November 29th, 2011

By Elliott Wave International

What is the real problem with today’s market? Watch this excerpt from Robert Prechter’s special, video issue of the August 2011 Elliott Wave Theorist. Prechter shows you how the buildup of dollar-denominated debt has brought us to what he calls a critical market juncture.

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Daily Forex Analysis – November 29, 2011

Tuesday, November 29th, 2011

USDCHF Analysis.
USDCHF broke below the lower line of the price channel on 4-hour chart, suggesting that lengthier consolidation of uptrend from 0.8569 is underway. Range trading between 0.9085 and 0.9329 would likely be seen in a couple of days. Key support is at 0.9085, as long as this level holds, uptrend could be expected to resume, and another rise to 0.9500 is still possible. On the other side, a breakdown below 0.9085 will indicate that the rise from 0.8569 had completed at 0.9329 already, then the following downward movement could bring price back to 0.8400 zone.

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Daily Forex Analysis – November 28, 2011

Monday, November 28th, 2011

AUDUSD Analysis.
AUDUSD has broken above the downward trend line on 4-hour chart, suggesting that the downtrend from 1.0342 has completed at 0.9663 already. Lengthier consolidation of the longer term downtrend from 1.0751 would likely be seen over the next several days, and the trading range would be between 0.9663 and 1.0000. As long as 1.0000 resistance holds, downtrend could be expected to resume, and one more fall towards 0.9390 (Oct 4 low) is still possible, only break above 1.0000 could indicate that the fall from 1.0751 is complete.

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Daily Forex Analysis – November 25, 2011

Friday, November 25th, 2011

AUDUSD Analysis.
AUDUSD stays below a downward trend line on 4-hour chart, and remains in downtrend from 1.0342. As long as the trend line resistance holds, downtrend could be expected to continue after a minor consolidation and next target would be at 0.9600 area. However, a clear break above the trend line could indicate that the fall from 1.0342 has competed, then the following upward movement could bring price to 1.0400 zone.

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Daily Forex Analysis – November 24, 2011

Thursday, November 24th, 2011

AUDUSD Analysis.
AUDUSD continued its downward move yesterday, and the fall extended to as low as 0.9663. Resistance remains at he downward trend line on 4-hour chart, as long as the trend line resistance holds, downtrend could be expected to continue after a minor consolidation, and next target would be at 0.9600 area, only a clear break above the trend line could indicate that the fall is complete.

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What’s the Downside of Being Safe?

Wednesday, November 23rd, 2011

By Elliott Wave International

In an interview with the Mind of Money, Robert Prechter stresses the importance of keeping your money safe in this bear market environment. According to the Elliott wave model, we have entered a critical phase in the market. This 3-minute video clip will help you to prepare for what’s ahead.

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Get Your Free "Most Important Investment Report for 2012"

Wednesday, November 23rd, 2011

There are just a few days left to get your free report, The Most Important Investment Report You’ll Read for 2012.

Every year or two Elliott Wave International (EWI) publishes analysis with a message so critical that they decide to share it, FREE.

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Daily Forex Analysis – November 23, 2011

Wednesday, November 23rd, 2011

GBPUSD Analysis.
GBPUSD’s downward movement from 1.6092 extended to as low as 1.5582. Further fall is still possible after a minor consolidation, and next target would be at 1.5500 area. Resistance is now at the downward trend line on 4-hour chart, a break above the trend line could indicate that a cycle bottom has been formed on 4-hour chart, and the fall from 1.6092 has completed, then the following upward move could bring price to 1.6400 area.

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Daily Forex Analysis – November 22, 2011

Tuesday, November 22nd, 2011

USDCHF Analysis.
USDCHF moved sideways in a range between 0.9085 and 0.9234 for several days. The price action in the range is likely consolidation of uptrend from 0.8569, one more rise towards 0.9314 previous high is still possible after consolidation. Initial support remains at the lower border of the price channel on 4-hour chart, as long as the channel support holds, uptrend could be expected to resume. Key support is now at 0.9085, only break below this level could indicate that the rise from 0.8569 is complete, then the following downward move could bring price back to 0.8000 area.

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