Sponsors

Archive for May, 2012

Daily Forex Analysis – May 31, 2012

Thursday, May 31st, 2012

USDCAD Analysis.
Being supported by the upward trend line on 4-hour chart, USDCAD rebounds from 1.0206, suggesting that a cycle bottom has been formed, and the uptrend from 0.9799 has resumed. Further rise could be seen over the next several days, and next target would be at 1.0400 area. Initial support remains at the upward trend line, only a clear break below the trend line support could signal completion of the uptrend.

(more…)

Daily Forex Analysis – May 30, 2012

Wednesday, May 30th, 2012

AUDUSD Analysis.
AUDUSD is in consolidation of the downtrend from 1.0474. Range trading between 0.9689 and 0.9934 would likely be seen over the next several days. As long as 0.9934 resistance holds, one more fall towards 0.9500 is still possible after consolidation. However, a break above 0.9934 key resistance will indicate that the whole decline from 1.0855 (Feb 29 high) has completed at 0.9689 already, then the following upward move could bring price back to 1.0600 zone.

(more…)

Daily Forex Analysis – May 28, 2012

Monday, May 28th, 2012

EURUSD Analysis.
EURUSD stays below a downward trend line on 4-hour chart, and remains in downtrend from 1.3283, and the fall extends to as low as 1.2496. Another fall would likely be seen after a minor consolidation, and next target would be at 1.2400 area. On the upside, a clear break above the trend line will indicate that the downtrend from 1.3283 has completed at 1.2496 already, then the following upward movement could bring price back to 1.3400 zone.

(more…)

Don’t Invest Another Dime Before Reading This Free Report at Least 3 Times

Friday, May 25th, 2012

Let me tell you about the page-turner of a report on U.S. and European markets I read three times today. You shouldn’t invest another dime in the U.S. or in Europe without reading it three times, too. Learn more about the new free report here.

(more…)

Daily Forex Analysis – May 25, 2012

Friday, May 25th, 2012

AUDUSD Analysis.
AUDUSD stays below a downward trend line on 4-hour chart, and remains in downtrend from 1.0474, the rise from 0.9689 is treated as consolidation of the downtrend. As long as the trend line resistance holds, we’d expect downtrend to resume, and next target would be at 0.9600 area. However, a clear break above the trend line resistance will indicate that the downward movement from 1.0474 has completed at 0.9689 already, then the following upward movement could bring price back to 1.0600 zone.

(more…)

Position Yourself for the Rest of "Conquer the Crash"

Thursday, May 24th, 2012

By Elliott Wave International

To this day, I wonder why Robert Prechter’s book Conquer the Crash has not been more widely recognized. It described in advance much of what happened in the 2008 financial crisis.

(more…)

Daily Forex Analysis – May 24, 2012

Thursday, May 24th, 2012

USDJPY Analysis.
USDJPY moves sideways in a range between 78.99 and 80.61. As long as 80.61 key resistance holds, the price action in the range is treated as consolidation of the downtrend from 84.17 (Mar 15 high), and one more fall towards 78.00 is still possible after consolidation. However, a break above 80.61 will indicate that the downward movement from 84.17 has completed at 78.99 already, and the target for the following upward movement would be at 83.00 area.

(more…)

Daily Forex Analysis – May 23, 2012

Wednesday, May 23rd, 2012

USDJPY Analysis.
USDJPY breaks above 79.70 resistance, suggesting that lengthier consolidation of the downtrend from 84.17 (Mar 15 high) is underway. Range trading between 78.99 and 80.61 is expected in a couple o fays. Key resistance is located at 80.61, as long as this level holds, one more fall to 78.00 is still possible. On the upside, a break above 80.61 will indicate that the fall from 84.17 has completed at 78.99 already, then the following upward movement could bring price back to 83.00 zone.
(more…)

How a Simple Line Can Improve Your Trading Success

Tuesday, May 22nd, 2012

By Elliott Wave International

The following trading lesson has been adapted from Jeffrey Kennedy’s eBook, Trading the Line — 5 Ways You Can Use Trendlines to Improve Your Trading Decisions. You can download the 14-page eBook here.

(more…)

Daily Forex Analysis – May 22, 2012

Tuesday, May 22nd, 2012

EURUSD Analysis.
EURUSD has formed a cycle bottom at 1.2642 on 4-hour chart. Range trading between 1.2642 and 1.2900 would likely be seen in a couple of days. As long as 1.2900 resistance holds, the bounce is treated as consolidation of the downtrend from 1.3283, and another fall to re-test 1.2624 (Jan 13 low) support could be expected. On the upside, a break above 1.2900 resistance will indicate that the downtrend from 1.3283 has completed at 1.2642 already, then the following upward movement could bring price back to 1.3200-1.3300 area.

(more…)


Other finance sites

Forex Articles
Providing free forex articles and trading courses.