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Archive for August, 2012

The Commodity Markets Take No Prisoners

Tuesday, August 21st, 2012

By Elliott Wave International

How many losing trades can you tolerate each year and still be successful in the markets? How many consecutive losing trades? How many losing weeks, months, or even years would it take to end your trading career?

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Daily Forex Analysis – August 21, 2012

Tuesday, August 21st, 2012

GBPUSD Analysis.
GBPUSD stays above a upward trend line on 4-hour chart, and remains in uptrend. As long as the trend line support holds, uptrend could be expected to continue, and another rise to test 1.5767 resistance is possible, a break above this level will target 1.5900 area. On the other side, a clear break below the trend line will indicate that lengthier sideways movement in the range between 1.5458 and 1.5767 is underway, then deeper decline to test 1.5458 support could be seen.

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Daily Forex Analysis – August 20, 2012

Monday, August 20th, 2012

USDCAD Analysis.
USDCAD remains in downtrend from 1.0083, the rise from 0.9859 is treated as consolidation of the downtrend. Resistance is now at 0.9930, as long as this level holds, we’d expect downtrend to resume, and another fall towards 0.9800 is still possible. However, a break above 0.9930 resistance will indicate that a cycle bottom has been formed on 4-hour chart, and the fall from 1.0083 has completed, then further rally could be seen to follow, and the target would be at 1.0000 area.

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Sentiment Measure Shows No Fear of Major U.S. Stock Decline

Saturday, August 18th, 2012

By Elliott Wave International

The stock market’s recent rally has seemed to ignore Europe’s debt crisis and the weak U.S. economy, and in turn commentators have dusted off an old Wall Street phrase: wall of worry.

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Single- and Multi-Bar Price Analysis: Could It Help You Forecast the Markets?

Friday, August 17th, 2012

By Elliott Wave International

Senior Analyst Jeffrey Kennedy has spent over 15 years developing techniques to "read between the lines" on a price chart, and he shares some of his techniques with you in a FREE eBook: Learn to Identify High Confidence Trading Opportunities Using Price Bars and Chart Patterns.

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Daily Forex Analysis – August 17, 2012

Friday, August 17th, 2012

USDCAD Analysis.
USDCAD’s downward movement from 1.0083 extends to as low as 0.9859. Resistance is now at 0.9930, as long as this level holds, the downtrend could be expected to continue, and next target would be at 0.9800 area. On the other side, a break above 0.9930 will suggest that a cycle bottom is being formed on 4-hour chart, then consolidation of the downtrend could be seen to follow, and the trading range would be between 0.9800 and 0.9950.

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Daily Forex Analysis – August 16, 2012

Thursday, August 16th, 2012

EURUSD Analysis.
EURUSD is facing the support of the upward trend line from 1.2042 to 1.2134 again, rebound could be expected after touching the trend line, and another rise to test 1.2442 would likely be seen. On the downside, a clear break below the trend line will indicate that that rise from 1.2042 has completed at 1.2442 already, and the longer term downtrend from 1.3486 (Feb 24 high) has resumed, then the following downward movement could bring price to 1.1700 area.

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Trading Psychology: Don’t Trade With Your Ego

Wednesday, August 15th, 2012

By Elliott Wave International

Senior Analyst Jeffrey Kennedy is a busy man. Along with his regular duties at Elliott Wave International, he prepares 3-5 video lessons each week that teach technical traders how to anticipate — and act on — trading opportunities.

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Daily Forex Analysis – August 15, 2012

Wednesday, August 15th, 2012

EURUSD Analysis.
EURUSD stays above a upward trend line on 4-hour chart, and remains in uptrend from 1.2042, the price action from 1.2389 is treated as consolidation of the uptrend. Another rise to test 1.2442 resistance could be expected, a break above this level will target 1.2600 area. Key support is at the trend line, only a clear break below the trend line could indicate that the longer term downtrend from 1.3486 (Feb 24 high) has resumed, then further decline towards 1.1700 could be seen.

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Download Your Free Price Bars and Chart Patterns Trading eBook

Tuesday, August 14th, 2012

Sometimes understanding the most basic elements of a chart can improve your trading success. That’s why Elliott Wave International (EWI) created a new eBook, Learn to Identify High Probability Trading Opportunities Using Price Bars and Chart Patterns, by EWI Senior Analyst Jeffrey Kennedy. Find out how price bars and chart patterns can improve your trading success.

This offer expires August 27. Download your free 14-page eBook today.

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