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Archive for February, 2012

Want to Know Who’s Going to Be President? Ask the Stock Market

Friday, February 17th, 2012

By Elliott Wave International

What’s the biggest influence on the outcome of presidential elections?

Many observers would identify the role of campaign spending by super PACs, a candidate’s debate performance, and, of course, the health of the economy ("stupid").

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Daily Forex Analysis – February 17, 2012

Friday, February 17th, 2012

USDCAD Analysis.
After touching 1.0038 resistance, USDCAD dropped from 1.0050, suggesting that lengthier consolidation of the downtrend from 1.0318 is underway. Deeper decline to test 0.9925 support would likely be seen later today, a breakdown below this level will signal resumption of the downtrend, then next target would be at 0.9800 area.

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A Two-Bar Pattern that Points to Trade Setups

Thursday, February 16th, 2012

By Elliott Wave International

Some people like to get outside on the weekends, maybe playing tennis or working in the yard. Some people like to visit their friends or cook a big meal or go out to see a movie. And some people who are passionate about their work — such as Elliott Wave International’s futures analyst Jeffrey Kennedy — like to stare at hundreds of price charts on their computer screen to find patterns that point to trade setups. We used to worry for his health but not anymore, because he’s been doing it for years and he comes up with some neat stuff. A case in point is his discovery of a two-bar pattern that he named the Popgun. Find out more in this excerpt from the Club EWI eBook, How to Use Bar Patterns to Spot Trade Setups.

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Daily Forex Analysis – February 16, 2012

Thursday, February 16th, 2012

USDCAD Analysis.
USDCAD stays in a trading range between 0.9925 and 1.0038, Key resistance is at 1.0038, as long as this level holds, the price action in the trading range is treated as consolidation of downtrend from1.0318, and one more fall towards 0.9800 area to complete the downward movement is still possible. On the upside, a break above 1.0038 will indicate that the fall from 1.0318 had completed at 0.9925 already, then further rise towards 1.0400 could be seen.

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Daily Forex Analysis – February 15, 2012

Wednesday, February 15th, 2012

USDCHF Analysis.
USDCHF’s bounce from 0.9088 extended to as high as 0.9228. Further rise to test 0.9262 key resistance is expected later today, a break above this level will indicate that the downtrend from 0.9594 had completed at 0.9088 already, then the following upward movement could bring price back towards 0.9594 previous high. However, as long as 0.9262 resistance holds, the price action in the range between 0.9088 and 0.9262 is treated as consolidation of downtrend from 0.9594, and one more fall to 0.9000 is still possible.

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Daily Forex Analysis – February 14, 2012

Tuesday, February 14th, 2012

USDCAD Analysis.
After breaking above the upper line of the price channel on 4-hour chart, USDCAD pulled back from 1.0038. Range trading between 0.9925 and 1.0038 would likely be seen in a couple of days. As long as 1.0038 level holds, the price action in the range could be treated as consolidation of the downtrend from 1.0318, and one more fall to 0.9800 is still possible. On the other side, a break above 1.0038 will confirm that the fall from 1.0318 had completed at 0.9925 already, then further rally could be seen to 1.0400 area.

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Daily Forex Analysis – February 13, 2012

Monday, February 13th, 2012

USDCHF Analysis.
USDCHF has formed a cycle bottom at 0.9088 on 4-hour chart. Range trading between 0.9088 and 0.9262 would likely be seen in a couple of days. Key resistance is at 0.9262, as long as this level holds, the price action in the range is treated as consolidation of the downtrend from 0.9594, and one more fall towards 0.9000 is still possible. However, a break above 0.9262 will indicate that the downtrend from 0.9594 has completed at 0.9088 already, then further rise towards 0.9594 previous high could be seen.

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Daily Forex Analysis – February 10, 2012

Friday, February 10th, 2012

USDCAD Analysis.
USDCAD is in downtrend from 1.0318, the price action from 0.9926 is treated as consolidation of downtrend. Resistance is now 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 one more fall towards 0.9800 is still possible. However, a clear break above the upper line of the channel will indicate that the fall from 1.0318 is complete, then the following upward movement could bring price back to 1.0500 zone.

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Learn How to Apply Fibonacci Retracements to Your Trading

Thursday, February 9th, 2012

By Elliott Wave International

Elliott waves often correct in terms of Fibonacci ratios. The following article, adapted from the eBook How You Can Use Fibonacci to Improve Your Trading, explains what you can expect when a market begins a corrective phase. Learn how you can read the entire 14-page eBook below.

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Do Low Interest Rates Power Stocks Higher?

Thursday, February 9th, 2012

By Elliott Wave International

Back in the day, one of the first things I "learned" about investing was that low or declining interest rates are good for stock prices.

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