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Archive for January, 2013

Daily Forex Analysis – January 22, 2013

Tuesday, January 22nd, 2013

USDCAD Analysis.
USDCAD is facing the resistance of the upper line of the price channel on 4-hour chart. As long as the channel resistance holds, the price action from 0.9824 is treated as consolidation of the downtrend from 1.0055 (Nov 16, 2012 high), and the downtrend could be expected to resume after touching the channel resistance. Support is at 0.9900, a breakdown below this level will indicate that a cycle top has been formed at 0.9946, and the downtrend from 1.0055 has resumed, then further decline towards 0.9700 could be seen. On the upside, a clear break above the channel resistance will indicate that the downtrend from 1.0055 had completed at 0.9815 already, then the following upward movement could bring price to 1.0200 zone.

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Daily Forex Analysis – January 21, 2013

Monday, January 21st, 2013

USDCAD Analysis.
USDCAD broke above 0.9885 resistance and reached as high as 0.9946 last Friday, suggesting that lengthier consolidation of the downtrend from 1.0055 is underway. Further rise would likely be seen and the target would be at the upper line of the price channel on 4-hour chart. Support is at 0.9890, only break below this level could indicate that a cycle top has been formed at 0.9946, then further decline to test 0.9815 previous low support could be seen.

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The Secret Word: Deflation – And the Next Five Years of Financial Turmoil

Saturday, January 19th, 2013

By Elliott Wave International

The following is a sample from Elliott Wave International’s new 40-page report, The State of the Global Markets – 2013 Edition: The Most Important Investment Report You’ll Read This Year. This article was originally published in Robert Prechter’s July 2012 Elliott Wave Theorist.

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Daily Forex Analysis – January 18, 2013

Friday, January 18th, 2013

USDCAD Analysis.
USDCAD remains in downtrend from 0.9970, the rise from 0.9815 is treated as consolidation of the uptrend. Resistance is at 0.9885, as long as this level holds, the downtrend could be expected to resume, and a breakdown below 0.9815 will trigger another fall towards 0.9700. Only break above 0.9885 will indicate that lengthier consolidation of the longer term downtrend from 1.0055 is underway, then further rise to 0.9950 zone could be expected.

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Daily Forex Analysis – January 17, 2013

Thursday, January 17th, 2013

USDJPY Analysis.
USDJPY broke below the lower line of the price channel on 4-hour chart, and is now in consolidation of the uptrend from 82.11. Range trading between 86.82 and 89.67 would likely be seen in a couple of days. Key support is at 86.82, as long as this level holds, the uptrend could be expected to resume, and another rise towards 95.00 is still possible. On the downside, a breakdown below 86.82 will indicate that the uptrend had completed at 89.67 already, then the following downward movement could bring price back to 84.00 zone.

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A Free 40-Page Download: The Most Important Investment Report You’ll Read for 2013

Wednesday, January 16th, 2013

Exclusive invitation: Our friends at Elliott Wave International have just released their new 40-page independent investor report, The State of the Global Markets — 2013 Edition: The Most Important Investment Report You’ll Read This Year. On an exclusive, limited-time basis, they’ve allowed us to share it with you for FREE. Learn more and download your 40-page report now >>

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Daily Forex Analysis – January 16, 2013

Wednesday, January 16th, 2013

USDJPY Analysis.
USDJPY breaks below the lower line of the price channel on 4-hour chart, suggesting that a cycle top has been formed on 4-hour chart. Deeper decline would likely be seen and next target would be at 87.50 area. However, the fall from 89.67 would possibly be consolidation of the uptrend from 82.11, as long as 86.82 key support holds, the uptrend could be expected to resume, and another rise towards 95.00 is still possible.

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Risk Management for Technical Traders [Interview Excerpt]

Tuesday, January 15th, 2013

By Elliott Wave International

If you trade with Elliott wave analysis, your trading decisions are all about the difference between where the market is vs. where it will be. According to Jeffrey Kennedy, editor of our Elliott Wave Junctures service, risk management skills are vital to being a successful technical trader.

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Daily Forex Analysis – January 15, 2013

Tuesday, January 15th, 2013

EURUSD Analysis.
EURUSD remains in uptrend from 1.2998, and the rise extends to as high as 1.3403. Further rise could be expected and next target would be at 1.3500 area. Support is at 1.3300, as long as this level holds, the uptrend will continue. On the downside, a breakdown below 1.3300 support will suggest that a cycle top is being formed on 4-hour chart, and consolidation of the uptrend is underway, then pullback to 1.3200 area to complete the consolidation could be seen.

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Daily Forex Analysis – January 14, 2013

Monday, January 14th, 2013

USDCHF Analysis.
USDCHF’s fall from 0.9302 extends to as low as 0.9110. Deeper decline to test 0.9083 support would likely be seen, a breakdown below this level could signal resumption of the downtrend from 0.9511, then next target would be at 0.9000 area. Resistance is at 0.9200, only break above this level will suggest that a cycle bottom is being formed on 4-hour chart, then further rise to 0.9350 area could be expected.

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