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Archive for October, 2012

Daily Forex Analysis – October 19, 2012

Friday, October 19th, 2012

EURUSD Analysis.
Being contained by 1.3171 previous high resistance, EURUSD pulled back from 1.3138. However, the fall is likely minor consolidation of the uptrend from 1.2825, another rise to test 1.3171 resistance could be expected after consolidation, and a break above this level will confirm that the longer term uptrend from 1.2042 (Jul 24 low) has resumed, then further rise to 1.3500 could be seen. Support is at 1.3025, only break below this level could indicate that a cycle top has been formed at 1.3138 on 4-hour chart, and lengthier consolidation of the uptrend from 1.2042 is underway, then another fall to re-test 1.2803 support is possible.

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EWI’s FOREX FreeWeek is now on: Get charts, analysis and forecasts for the dollar, euro, yen and more

Thursday, October 18th, 2012

Our friends at Elliott Wave International have just announced the start of their popular FreeWeek!

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Daily Forex Analysis – October 18, 2012

Thursday, October 18th, 2012

GBPUSD Analysis.
GBPUSD breaks above the downward trend line resistance, suggesting that the downward movement from 1.6309 has completed at 1.5976 already. Further rise could be expected after a minor consolidation, and next target would be at 1.6250 area. Support is at 1.6100, as long as this level holds, the uptrend from 1.5976 will continue.

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Daily Forex Analysis – October 17, 2012

Wednesday, October 17th, 2012

GBPUSD Analysis.
GBPUSD is facing the resistance of the downward trend line on 4-hour chart, a clear break above the trend will indicate that the downtrend from 1.6309 has completed at 1.5976 already, then further rise towards 1.6309 previous high could be seen to follow. On the downside, as long as the trend line resistance holds, the rise from 1.5976 would possibly be consolidation of the downtrend from 1.6309, and one more fall to 1.5900 is still possible.

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An Elliott Wave Pattern that Signals the Start of Opportunity

Tuesday, October 16th, 2012

By Elliott Wave International

On Monday Oct. 8 I sat down with Elliott Wave International’s senior analyst Jeffrey Kennedy to discuss his favorite wave pattern of all: the Elliott wave diagonal.

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Daily Forex Analysis – October 16, 2012

Tuesday, October 16th, 2012

EURUSD Analysis.
EURUSD continues its sideways movement in a range between 1.2803 and 1.3071. Support is at 1.2803, as long as this level holds, the price action from 1.3171 is treated as consolidation of the uptrend from 1.2042, one more rise towards 1.3500 could be expected after consolidation. Resistance is at 1.3071, a break above this level could signal resumption of the uptrend. On the downside, as long as 1.3071 resistance holds, the price action from 1.2803 could possibly be consolidation of the downtrend from 1.3171, another fall to 1.2700 area is possible.

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Daily Forex Analysis – October 15, 2012

Monday, October 15th, 2012

EURUSD Analysis.
EURUSD stays in a trading range between 1.2803 and 1.3071. Another rise to test 1.3071 resistance would likely be seen, a break above this level will signal resumption of the longer term uptrend from 1.2042, then next target would be at 1.3500 area. However, as long as 1.3071 resistance holds, the price action in the range could be treated as consolidation of the downtrend from 1.3171, one more fall to 1.2700 area to complete to downward movement is still possible.

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The Financial Tsunami Headed To Shore Has Been Building for 80 Years

Saturday, October 13th, 2012

By Elliott Wave International

If you’re a passenger aboard a ship in deep water, you can’t detect a tsunami; the swells are indistinguishable from regular ocean waves. Wave lengths can be hundreds of miles long, but only when this energy reaches shallow water does the mammoth tsunami wall form — and can wash over anything in its path.

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Fibonacci in Nature: The Golden Ratio and the Golden Spiral

Friday, October 12th, 2012

By Elliott Wave International

If you’ve studied the financial markets, even for a short time, you’ve probably heard the term "Fibonacci numbers." The ratios and relationships derived from this mathematical sequence are applied to the markets to help determine targets and retracement levels.

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Daily Forex Analysis – October 12, 2012

Friday, October 12th, 2012

AUDUSD Analysis.
AUDUSD breaks above 1.0274 resistance, and is now facing the downward trend line resistance. As long as the trend line resistance holds, the downtrend from 1.0624 could be expected to resume, and another fall to 1.0000-1.0100 area to complete the downward movement is possible. On the upside, a clear break above the trend line resistance will suggest that the fall from 1.0624 has completed, then further rise towards 1.0624 previous high could be seen.

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