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Archive for March, 2012

Daily Forex Analysis – March 30, 2012

Friday, March 30th, 2012

AUDUSD Analysis.
AUDUSD stays below a downward trend line on 4-hour chart, and remains in downtrend from 1.0855, the rise from 1.0304 is treated as consolidation of the downtrend. Resistance is at the trend line, as long as the trend line resistance holds, downtrend could be expected to resume, and another fall towards 1.0200 is possible, only a clear break above the trend line could signal completion of the downtrend.

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Daily Forex Analysis – March 29, 2012

Thursday, March 29th, 2012

GBPUSD Analysis.
After touching 1.5991 previous high resistance, GBPUSD pulled back from 1.6000, suggesting that a cycle top is being formed on 4-hour chart. Initial support is at the lower line of the price channel, and the key support is at 1.5770, as long as this level holds, uptrend from 1.5602 could be expected to resume, and another rise towards 1.6300 is still possible. On the other side, a breakdown below 1.5770 will indicate that the uptrend has completed at 1.6000, then deeper decline to test 1.5602 support could be seen.

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Daily Forex Analysis – March 28, 2012

Wednesday, March 28th, 2012

USDCAD Analysis.
USDCAD stays in a trading range between 0.9841 and 1.0050. As long as 1.0050 key resistance holds, the price action in the range is treated as consolidation of the downtrend from 1.0422 (Dec 14, 2011 high). Another fall to test 0.9841 would likely be seen, a breakdown below this level could signal resumption of the downtrend. However, a break above 1.0050 will indicate that the fall from 1.0422 had completed at 0.9841 already, then the following upward movement could bring price back to 1.0400 zone.

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Daily Forex Analysis – March 27, 2012

Tuesday, March 27th, 2012

AUDUSD Analysis.
AUDUSD is facing the resistance of the downward trend line on 4-hour chart, a clear break above the trend line will suggest that lengthier consolidation of the downtrend from 1.0855 is underway, then range trading between 1.0336 and 1.0550 could be seen. On the other side, downtrend could be expected to resume after touching the trend line resistance,  support is now at 1.0425, a breakdown below this level could signal resumption of the downtrend.

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Daily Forex Analysis – March 26, 2012

Monday, March 26th, 2012

GBPUSD Analysis.
GBPUSD’s upward movement had completed at 1.5922. Another fall would likely be seen later today. Support is at 1.5770, a breakdown below this level could signal resumption of the longer term downtrend from 1.5991, then further decline to test 1.5602 could be expected. On the other side, a break above 1.5922 will indicate that the pair remains in uptrend from 1.5602, then further rise towards 1.5991 previous high could be seen.

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What All Major Depressions Have in Common

Saturday, March 24th, 2012

By Elliott Wave International

Deflation requires a precondition: a major societal buildup in the extension of credit (and its flip side, the assumption of debt).
Conquer the Crash, 2nd edition (p. 88)

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Daily Forex Analysis – March 23, 2012

Friday, March 23rd, 2012

EURUSD Analysis.
Being contained by 1.3290 resistance, EURUSD pulled back from 1.3284, suggesting that a cycle top is being formed on 4-hour chart. Further decline would likely be seen later today, and next target would be at 1.3050 area. Key resistance is at 1.3290, only break above this level will indicate that the fall from 1.3486 had completed at 1.3003, then the following upward movement could bring price to test 1.3486 previous high resistance.

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Daily Forex Analysis – March 22, 2012

Thursday, March 22nd, 2012

USDJPY Analysis.
USDJPY moves sideways below 84.17. The sideways movement is likely consolidation of the uptrend from 76.02. Support is at the lower line of the price channel on 4-hour chart, as long as the channel support holds, we’d expect uptrend to resume, and another rise towards 85.00 is still possible. On the downside, a clear break below the channel support will indicate that lengthier consolidation of the uptrend is underway, then the pair will find support around 82.50.

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Daily Forex Analysis – March 21, 2012

Wednesday, March 21st, 2012

GBPUSD Analysis.
GBPUSD remains in short term uptrend from 1.5602, the pullback from 1.5913 is likely consolidation of the uptrend. Support level is at 1.5800, as long as this level holds, uptrend could be expected to resume, and another rise to test 1.5991 previous high resistance is possible. On the downside, a breakdown below 1.5800 will suggest that a cycle top has been formed at 1.5913 on 4-hour chart, then further fall towards 1.5602 could be seen.

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Are the Efforts of the World Central Banks Working?

Tuesday, March 20th, 2012

By Elliott Wave International

The Fed is not the world’s only central bank dealing with debt. Watch as Steve Hochberg, EWI’s chief market analyst, shows what has happened to GDP in countries around the world as other central banks try to "inject liquidity" into the system.

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