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Archive for April, 2012

How to Handle an Economic Implosion

Friday, April 20th, 2012

By Elliott Wave International

I came across some research on the subject of worry. Here’s how it was presented:

Things People Worry About:

  • things that never happen – 40%
  • things which did happen that worrying can’t undo – 30%
  • needless health worries – 12%
  • petty, miscellaneous worries – 10%
  • real, legitimate worries – 8%

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Daily Forex Analysis – April 20, 2012

Friday, April 20th, 2012

USDJPY Analysis.
USDJPY is facing the resistance of the upper border of the price channel on 4-hour chart. As long as the channel resistance holds, the rise from 80.31 could be treated as consolidation of the downtrend from 84.17, and another fall is still possible after consolidation. However, a clear break above the channel resistance will indicate that the fall from 84.17 had completed at 80.31 already, then the following upward movement could bring price to 83.00 zone.

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Daily Forex Analysis – April 19, 2012

Thursday, April 19th, 2012

USDJPY Analysis.
USDJPY had formed a cycle bottom at 80.31 on 4-hour chart. Further rise to test the resistance of the upper border of the downward price channel is possible later today. As long as the channel resistance holds, the rise is treated as consolidation of the downtrend from 84.17, and another fall is still possible after consolidation. On the other side, a clear break above the channel resistance will indicate that the fall from 84.17 had completed at 80.31 already, then further rise to 83.00 area could be seen.

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Daily Forex Analysis – April 18, 2012

Wednesday, April 18th, 2012

USDJPY Analysis.
USDJPY breaks above 81.19 resistance and reaches as high as 81.37, suggesting that a cycle bottom has been formed at 80.31 on 4-hour chart. Further rise could be seen in a couple of days, and the fist target would be at the upper line of the price channel. As long as the channel resistance holds, the bounce is treated as consolidation of the downtrend from 84.17, and another fall is still possible after consolidation. On the upside, a clear break above the channel resistance will indicate that the fall from 84.17 has completed at 80.31 already, then the following upward movement could bring price to 83.00 area.

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Daily Forex Analysis – April 17, 2012

Tuesday, April 17th, 2012

USDCAD Analysis.
No changed in our view, USDCAD is forming a sideways consolidation in a range between 0.9841 and 1.0050. As long as 1.0050 key resistance holds, one more fall to 0.9600-0.9700 area to complete the downward movement from 1.0422 (Dec 14, 2011 high) is still possible, only break above 1.0050 could signal completion of the downtrend.

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Daily Forex Analysis – April 16, 2012

Monday, April 16th, 2012

USDCAD Analysis.
USDCAD continues its sideways movement in a 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), and one more fall to 0.9600-0.9700 area is still possible. One the other side, a break above 1.0050 resistance will indicate that the fall from 1.0422 has 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 – April 13, 2012

Friday, April 13th, 2012

EURUSD Analysis.
EURUSD’s bounce from 1.3033 extends to as high as 1.3212. However, the rise is treated as correction of the downtrend from 1.3385, another fall to re-test 1.3003 support would likely be seen after correction, a breakdown below this level will signal resumption of the longer term downtrend from 1.3486 (Feb 24 high), then deeper decline towards 1.2624 (Jan 13 low) could be seen.

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Daily Forex Analysis – April 12, 2012

Thursday, April 12th, 2012

AUDUSD Analysis.
AUDUSD stays within a downward price channel on 4-hour chart, and remains in downtrend from 1.0855, the price action from 1.0243 could be treated as consolidation of the downtrend. Another fall could be seen after consolidation and the next target would be at 1.0200 area. Resistance is at the upper line of the channel, only a clear break above the channel resistance could signal completion of the downtrend.

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Daily Forex Analysis – April 11, 2012

Wednesday, April 11th, 2012

USDJPY Analysis.
After a minor consolidation, USDJPY continues its downward movement from 84.17, and the fall extends to as low as 80.63. Now the pair has reached the lower line of the price channel on 4-hour chart, rebound would likely be seen over the next several days, and the target would be at the upper line of the channel.

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Daily Forex Analysis – April 10, 2012

Tuesday, April 10th, 2012

USDJPY Analysis.
USDJPY may be forming a cycle bottom at 81.19 on 4-hour chart. Further rally to test the resistance of the downward trend line could be expected, a clear break above the trend line resistance will indicate that the downtrend from 84.17 has completed. On the other side, as long as the trend line resistance holds, the rise could be treated as consolidation of the downtrend, and one more fall towards 80.00 is still possible after consolidation.

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