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Archive for April, 2013

Daily Forex Analysis – April 30, 2013

Tuesday, April 30th, 2013

EURUSD Analysis.
EURUSD breaks above the resistance of the upper line of the price channel on 4-hour chart, suggesting that the downtrend from 1.3201 had completed at 1.2955 already. Further rise to test 1.3201 resistance could be expected, a break above this level will signal resumption of the uptrend from 1.2747, then next target would be at 1.3500 zone. Support is at 1.3020, only break below this level could trigger another fall to 1.2900 area.

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Daily Forex Analysis – April 29, 2013

Monday, April 29th, 2013

EURUSD Analysis.
EURUSD is facing the resistance of the upper line of  the price channel on 4-hour chart, a clear break above the channel resistance will indicate that the fall from 1.3201 had completed at 1.2955 already, then the following upward movement could bring price to 1.3500 area. However, as long as the channel resistance holds, the downtrend from 1.3201 could be expected to resume, and one more fall to 1.2900 area to complete the downward movement is still possible.

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An urgent new resource from market technician Bob Prechter

Saturday, April 27th, 2013

On Tuesday afternoon (April 23), Robert Prechter, a famed market technician known for calling the roaring bull market of the ’80s, the 1987 crash and the March 2009 stock market low, published an urgent new issue of his Elliott Wave Theorist.

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Daily Forex Analysis – April 26, 2013

Friday, April 26th, 2013

EURUSD Analysis.
EURUSD stays within a downward price channel on 4-hour chart, and remains in downtrend from 1.3201. Resistance is at the upper line of the channel, as long as the channel resistance holds, the downward movement could be expected to continue, and deeper decline to 1.2900 are is still possible. On the upside, a clear break above the channel resistance will suggest that the fall from 1.3201 has completed, then another rise towards 1.3500 could be seen.

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(Video) Top 3 Technical Tools Part 2: Relative Strength Index (RSI)

Thursday, April 25th, 2013

By Elliott Wave International

"There are many different forms of technical analysis. A completed Elliott wave pattern supported by additional evidence allows for more confident forecasts and higher probability trades."

-Jeffrey Kennedy

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Daily Forex Analysis – April 25, 2013

Thursday, April 25th, 2013

EURUSD Analysis.
EURUSD’s downward movement from 1.3201 extends to as low as 1.2955. Resistance is now at the upper line of the price channel on 4-hour chart, as long as the channel resistance holds, the downtrend from 1.3201 could be expected to continue, and next target would be at 1.2900 area. However, a clear break above the trend line resistance will indicate that the fall from 1.3201 had completed at 1.2955 already, then another rise towards 1.3500 could be seen.

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Daily Forex Analysis – April 24, 2013

Wednesday, April 24th, 2013

GBPUSD Analysis.
GBPUSD is facing the support of the upward trend line on 4-hour chart, a clear break below the trend line support will suggest that the upward movement from 1.4831 had completed at 1.5411 already, then the following downward move could bring price to 1.4500 zone. On the upside, as long as the trend line support holds, the uptrend could be expected to resume, and one more rise towards 1.5600 is still possible. Resistance is at 1.5335, a break above this level could signal resumption of the uptrend.

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How Market Losers Think, and How to Stop Doing It (complimentary video resource)

Tuesday, April 23rd, 2013

Complimentary resource: Only a few hundred people who sat in the packed ballroom at the world’s largest investment conference have seen this presentation — until now. If you mistrust the notions that markets are always efficient, investors are always rational and prices always reflect value, give Robert Prechter 23 minutes of your time. Continue reading to learn more, or follow this link for fast access to Prechter’s keynote speech.

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Daily Forex Analysis – April 23, 2013

Tuesday, April 23rd, 2013

USDCAD Analysis.
USDCAD moves sideways in a range between 1.0203 and 1.0293. Key support is at 1.0203, as long as this level holds, the price action in the trading range could be treated as consolidation of the uptrend from 1.0083, one more rise to test 1.0341 resistance is still possible. On the downside, a breakdown below 1.0203 will indicate that the upward movement from 1.0083 had completed at 1.0293 already, then the following downward movement could bring price back to 1.0000 zone.

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Daily Forex Analysis – April 22, 2013

Monday, April 22nd, 2013

USDCAD Analysis.
USDCAD remains in uptrend from 1.0083, the fall from 1.0293 is treated as consolidation of the uptrend. Support is at 1.0200, as long as this level holds, another rise to test 1.0341 resistance is still possible, a break above this level will indicate that the longer term uptrend from 0.9632 (Sep 14, 2012 low) has resumed, then the following upward move could bring price to 1.0500 area. On the downside, a breakdown below 1.0200 level will suggest that the upward movement from 1.0083 has completed at 1.0293 already, then deeper decline towards 1.0000 could be seen to follow.

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