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Archive for July, 2012

Australian Dollar: "Still Surging" — Why, Again?

Saturday, July 21st, 2012

By Elliott Wave International

Picture this. It’s late May. You’re in Australia. You have an interest in the currency markets: Maybe you speculate in forex; maybe your business depends on the exchange rates.

Every morning, you scan the headlines. This is what you see regarding the Australian dollar during the last week of May:

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(VIDEO) EUR/USD: A Great Real-Life Lesson in Elliott Wave Analysis

Saturday, July 21st, 2012

By Elliott Wave International

About once a week, the editor of EWI’s forex-focused Currency Specialty Service Jim Martens records a video for his subscribers.

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Daily Forex Analysis – July 20, 2012

Friday, July 20th, 2012

USDCHF Analysis.
USDCHF is in consolidation of the uptrend from 0.9421. Key support is at the upward price channel on 4-hour chart, as long as the channel support holds, we’d expect uptrend to resume, and another rise towards 1.0000 is still possible. On the downside, a clear break below the channel support will indicate that the uptrend from 0.9421 has completed at 0.9872 already, then the following downward movement could bring price back to 0.9500 zone.

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Daily Forex Analysis – July 19, 2012

Thursday, July 19th, 2012

USDCHF Analysis.
USDCHF stays in a upward price channel on 4-hour chart, and remains in uptrend from 0.9421, the fall from 0.9872 is treated as consolidation of the uptrend. Further decline to test the support of the lower border of the channel would likely be seen, as long as the channel support holds, uptrend could be expected to resume, and another rise to 1.0000 is still possible. On the downside, a clear break below the channel support will indicate that the uptrend from 0.9421 has completed at 0.9872 already, the the following downward movement could bring price back to 0.9500 zone.

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See today’s top 5 FX trading opportunities; join sought-after FX strategist for free webinar (exclusive invitation inside)

Wednesday, July 18th, 2012

Exclusive invitation for active FX traders

Our friends at Elliott Wave International have invited you to a free webinar with one of the most sought-after FX trading strategists in the world. On Wednesday, July 18 at 1 p.m. (Eastern time), learn how he called recent declines in the euro-dollar and see his 45-minute presentation titled "How to Trade the Top 5 Forex Opportunities Right Now."

Seating is limited to the first 1,000 active traders. Reserve your seat now.

At the time this post was sent, there were just 376 seats left.

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Daily Forex Analysis – July 18, 2012

Wednesday, July 18th, 2012

USDJPY Analysis.
Being contained by 78.61 support, USDJPY rebounds from 78.68, suggesting that a cycle bottom is being formed on 4-hour chart. Further rally could be expected, and the target would be at 78.50 area. However, the rise would possibly be consolidation of the downtrend from 80.09, another fall to 78.00 is possible after consolidation, and a breakdown below 78.61 support will signal resumption of the downtrend. Key resistance is at 79.50, only break above this level could indicate that the fall from 80.09 is complete.

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Witness the Epic Battle Between Investor Hope and Investor Fear

Tuesday, July 17th, 2012

By Elliott Wave International

Can an investor ever know enough about financial markets to make a truly informed decision?

Even professionals must cope with imperfect knowledge, and the constant uncertainty that comes with it. That’s why every investor looks to others for signals about what to do.

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Daily Forex Analysis – July 17, 2012

Tuesday, July 17th, 2012

GBPUSD Analysis.
GBPUSD is facing the resistance of the downward trend line from 1.5776 to 1.5721. As long as the trend line resistance holds, we’d expect the downtrend to resume, and another fall towards 1.5000 is still possible. However, a clear break above the trend line resistance will suggest that the downtrend from 1.5776 has completed at 1.5393 already, then the following upward movement could bring price to 1.6000 zone.

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Daily Forex Analysis – July 16, 2012

Monday, July 16th, 2012

AUDUSD Analysis.
Being supported by the lower line of the price channel on 4-hour chart, AUDUSD rebounds from 1.0100, suggesting that a cycle bottom has been formed. Now the bounce would possibly be resumption of the longer term uptrend from 0.9581 (Jun 1 low), further rise to test 1.0328 previous high resistance could be expected, a break above this level will target 1.0500 zone. Key support is now at 1.0100, only break below this level will indicate that the uptrend from 0.9581 is complete.

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Daily Forex Analysis – July 13, 2012

Friday, July 13th, 2012

AUDUSD Analysis.
AUDUSD is facing the support of the lower border of the price channel on 4-hour chart. As long as the channel support holds, the price action from 1.0223 is treated as consolidation of the uptrend from 0.9581 (Jun 1 low), and another rise towards 1.0500 could be expected after consolidation. On the downside, a clear break below the channel support will indicate that lengthier consolidation of the uptrend is underway, then deeper decline to 1.0000 could be seen.

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