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Archive for February, 2013

Daily Forex Analysis – February 28, 2013

Thursday, February 28th, 2013

AUDUSD Analysis.
AUDUSD stays within a downward price channel on 4-hour chart, and remains in short term downtrend from 1.0373, the rise from 1.0182 could be treated as consolidation of the downtrend. Resistance is located at the upper line of the channel, as long as the channel resistance holds, the downtrend could be expected to resume, and another fall to 1.0100 area is still possible. However a clear break above the channel resistance will indicate that the downward movement from 1.0373 has completed, then further rise to test 1.0373 key resistance could be seen, about this level will indicate that the whole downtrend from 1.0597 has completed.

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Daily Forex Analysis – February 27, 2013

Wednesday, February 27th, 2013

EURUSD Analysis.
EURUSD stays within a downward price channel on 4-hour chart, and remains in downtrend from 1.3519. Key resistance is now located at the upper line of the channel, as long as the channel resistance holds, the downtrend could be expected to continue, and next target would be at 1.2900 area. On the upside, a clear break above the channel resistance will suggest that a cycle bottom has been formed at 1.3018, and the downtrend from 1.3519 has completed, then another rise towards 1.4000 could be seen.

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Daily Forex Analysis – February 26, 2013

Tuesday, February 26th, 2013

USDCHF Analysis.
USDCHF’s upward movement extends to as high as 0.9338. Key support is at the upwards trend line on 4-hour chart, as long as the trend line support holds, the uptrend could be expected to continue, and next target would be at 0.9400 area. On the downside, a clear break below the trend line support will suggest that a cycle top has been formed, and the uptrend from 0.9021 has completed, then the following downward movement could bring price back to 0.8950 zone.

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Daily Forex Analysis – February 25, 2013

Monday, February 25th, 2013

AUDUSD Analysis.
AUDUSD moves sideways in a trading range between 1.0220 and 1.0373. Key resistance is now located at 1.0373, as long as this level holds, the price action in the range could be treated as consolidation of the downtrend from 1.0597, and one more fall towards 1.0000 is still possible after consolidation. However, a break above 1.0373 will indicate that the downtrend had completed at 1.0220 already, then the following upward movement could bring price to 1.0700 zone.

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Real Estate Mania Makes a Comeback

Saturday, February 23rd, 2013

By Elliott Wave International

Home-bidding wars have erupted in Washington D.C., a reminder of the days of the real estate frenzy.

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Daily Forex Analysis – February 22, 2013

Friday, February 22nd, 2013

AUDUSD Analysis.
After touching 1.0226 previous low support, AUDUSD rebounds from 1.0220, suggesting that a cycle bottom is being formed on 4-hour chart. Further rise to re-test 1.0373 would likely be seen, a break above this level will indicate that the downward movement from 1.0597 has completed, then the following upward move could bring price to 1.0700 zone. However, as long as 1.0373 resistance holds, the price action from 1.0226 could be treated as consolidation of the downtrend, and one more fall to 1.0100 area is still possible.

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Daily Forex Analysis – February 21, 2013

Thursday, February 21st, 2013

AUDUSD Analysis.
AUDUSD failed to break above 1.0373 resistance, and is now facing 1.0226 support, a breakdown below this level will signal resumption of the downtrend from 1.0597, then further decline to 1.0150 area could be expected. On the other side, as long as 1.0226 support holds, one more rise to re-test 1.0373 resistance is still possible, a break above this level will indicate that the downtrend from 1.0597 has completed at 1.0226 already, then the following upward movement could bring price back to 1.0700 zone.

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Daily Forex Analysis – February 20, 2013

Wednesday, February 20th, 2013

EURUSD Analysis.
EURUSD breaks above the downward trend line on 4-hour chart, suggesting that a cycle bottom is being formed at 1.3306 on 4-hour chart, and lengthier consolidation of the downtrend from 1.3711 is underway. Further rally could be expected and the target would be at 1.3475 area. Key resistance is at 1.3519, as long as this level holds, one more fall towards 1.3100 is still possible, only break above 1.3519 could signal completion of the downtrend.

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Daily Forex Analysis – February 18, 2013

Monday, February 18th, 2013

USDJPY Analysis.
USDJPY failed to break below 92.17 key support and stays in a trading range between 92.17 and 94.43. As long as 92.17 support holds, the price action in the range is treated as consolidation of the uptrend from 79.07 (Nov 9, 2012 low). Further rise to test 94.43 previous high resistance would likely be seen, a break above this level will signal resumption of the uptrend, then next target would be at 96.00 area. Only break below 92.17 will indicate that the uptrend had completed at 94.43 already, then the following downward movement could bring price back to 91.00 zone.

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Global Markets, Economies Mired in Early Stages of Biggest Disaster Ever

Saturday, February 16th, 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 September 2012 Elliott Wave Theorist.

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