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Archive for January, 2012

Daily Forex Analysis – January 19, 2012

Thursday, January 19th, 2012

AUDUSD Analysis.
AUDUSD stays in a upward price channel on 4-hour chart, and remains in uptrend from 0.9861. Support is at 1.0300, as long as this level holds, the price action from 1.0448 is treated as consolidation of uptrend, and one more rise towards 1.0600 is still possible. However, a breakdown below 1.0300 will indicate that a cycle top has been formed at 1.0448, then deeper decline to test 1.0145 key support could be seen.

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Daily Forex Analysis – January 18, 2012

Wednesday, January 18th, 2012

AUDUSD Analysis.
AUDUSD broke above 1.0385 resistance and continued its upward movement from 0.9861. Further rise is expected after a minor consolidation, and next target would be at 1.0500 area. Support is now at 1.0300, as long as this level holds, uptrend could be expected to continue, however, a breakdown below this level will indicate that a cycle top has been formed at 1.0448 on 4-hour chart, then deeper decline to test 1.0145 key support could be seen.

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Daily Forex Analysis – January 16, 2012

Monday, January 16th, 2012

AUDUSD Analysis.
AUDUSD moved sideways in a range between 1.0145 and 1.0385. Initial support is at the lower line of the price channel on 4-hour chart, and the key support is at 1.0145, as long as 1.0145 support holds, the price action in the trading range is treated as consolidation of uptrend from 0.9861, and another rise towards 1.0600 is still possible, only a breakdown below 1.0145 will indicate the the rise from 0.9861 has completed at 1.0385 already, then the following downward movement could bring price back to 0.9500 area.

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Five Fatal Flaws of Trading

Saturday, January 14th, 2012

By Elliott Wave International

Close to ninety percent of all traders lose money. The remaining ten percent somehow manage to either break even or even turn a profit — and more importantly, do it consistently. How do they do that?

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Daily Forex Analysis – January 13, 2012

Friday, January 13th, 2012

USDCHF Analysis.
USDCHF continued its downward move from 0.9594, and the fall extended to as low as 0.9411. Further fall to test the support of the upward trend line from 0.9066 to 0.9304 is expected later today, as long as the trend line support holds, the price action from 0.9594 is treated as consolidation of uptrend from 0.8569 (Oct 27, 2011 low), another rise towards 1.0000 is still possible. However, a clear break below the trend line will suggest that the rise from 0.8569 has completed at 0.9594 already, then the following downward movement could bring price back to 0.8850 area.

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Daily Forex Analysis – January 12, 2012

Thursday, January 12th, 2012

AUDUSD Analysis.
AUDUSD stays in a upward price channel on 4-hour chart, and remains in uptrend from 0.9861. Initial support is at the lower line of the channel, as long as the channel support holds, the price action from 1.0385 is treated as consolidation of uptrend, and another rise towards 1.0600 is still possible. Key support is at 1.0145, only break below this level will indicate that the uptrend has completed at 1.0385 already, then the following downward movement could bring price back to 0.9800 zone.

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The European Debt Crisis and Your Investments

Wednesday, January 11th, 2012

By Elliott Wave International

In 1999, 11 European countries surrendered their currencies for the euro and a shared monetary authority. Barely a decade later, the once-celebrated EU is in the midst of a credit crisis and its currency is facing collapse.

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Daily Forex Analysis – January 11, 2012

Wednesday, January 11th, 2012

AUDUSD Analysis.
AUDUSD’s bounce from the lower border of the price channel on 4-hour chart is likely resumption of uptrend from 0.9861. Further rise to test 1.0385 resistance would likely be seen later today, a break above this level could bring price to 1.0600 area. Initial support is now located at 1.0230, only break below this level could indicate that lengthier consolidation of uptrend is underway, then sideways movement in a range between 1.0145 and 1.0385 could be seen.

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How DEEP Will Cuts in Government Services Go?

Tuesday, January 10th, 2012

By Elliott Wave International

"Localities have chopped 535,000 positions since September 2008…"
USA Today (10/18)

Cuts in government services became conspicuous after the 2007-2009 financial crisis.

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Daily Forex Analysis – January 10, 2012

Tuesday, January 10th, 2012

AUDUSD Analysis.
Being supported by the lower border of the price channel on 4-hour chart, AUDUSD rebounded from 1.0145, suggesting that the fall from 1.0385 has completed. Now the bounce would possibly be resumption of uptrend from 0.9861, further rise to test 1.0385 resistance is expected later today, a break above this level could bring price to 1.0600 area. Key support is now at 1.0145, only break below this level will indicate that the rise from 0.9861 had completed at 1.0385 already, then the following downward move could pull price back to 0.9500 zone.

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