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Archive for April, 2013

Daily Forex Analysis – April 19, 2013

Friday, April 19th, 2013

GBPUSD Analysis.
GBPUSD stays above a upward trend line on 4-hour chart, and remains in uptrend from 1.4831, the fall from 1.5411 is treated as consolidation of  the uptrend. As long as the trend line support holds, the uptrend could be expected to resume, and another rise towards 1.5600 is still possible after consolidation. However, a clear break below the trend line will suggest that the uptrend from 1.4831 had completed at 1.5411 already, then the following downward movement could bring price to 1.4500 zone.

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New 5-Part Video Resource for Commodity Investors & Traders

Thursday, April 18th, 2013

If you read commodity news, you’ve probably noticed a trend: Seems like no one likes commodities any more! Here are some recent headlines:

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Daily Forex Analysis – April 18, 2013

Thursday, April 18th, 2013

USDCAD Analysis.
USDCAD’s upward movement from 1.0083 extends to as high as 1.0293. Further rise to test 1.0341 resistance would likely be seen, a break above this level will indicate that the longer term uptrend from 0.9632 (Sep 14, 2012 low) has resumed, then further rise to 1.0500 area could be seen to follow. On the downside, as long as 1.0341 resistance holds, the rise from 1.0083 would possibly be correction of the downtrend from 1.0341, another fall towards 1.0000 is still possible after correction.

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Daily Forex Analysis – April 17, 2013

Wednesday, April 17th, 2013

USDJPY Analysis.
USDJPY may be forming a cycle bottom at 95.83 on 4-hour chart. Further rise to test 99.94 previous high resistance would likely be seen, a break above this level will indicate that the uptrend from 77.14 (Sep 13, 2012 low) has resumed, then another rise towards 105.00 could be seen. On the downside, as long as 99.94 resistance holds, the consolidation of the uptrend could be expected to continue, and one more fall to 94.00 – 94.50 area to complete the consolidation is still possible.

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Daily Forex Analysis – April 16, 2013

Tuesday, April 16th, 2013

USDCHF Analysis.
USDCHF breaks above the downward trend line on 4-hour chart, suggesting that a cycle bottom is being formed at 0.9264 on 4-hour chart, and consolidation of the downtrend from 0.9553 is underway. Further rally would likely be seen, and the target would be at 0.9350 – 0.9400 area. As long as 0.9400 resistance holds, the downtrend could be expected to resume, and another fall towards 0.9000 is still possible after consolidation.

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Daily Forex Analysis – April 15, 2013

Monday, April 15th, 2013

USDCHF Analysis.
USDCHF remains in downtrend from 0.9553, and the fall extends to as low as 0.9264. Resistance is located at the downward trend line on 4-hour chart, as long as the trend line resistance holds, the downtrend could be expected to continue, and next target would be at 0.9200 area. On the upside, a clear break above the trend line resistance will suggest that consolidation of the downtrend is underway, then further rally to 0.9400 area could be seen.

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Top 3 Technical Tools Part 1: Japanese Candlesticks

Saturday, April 13th, 2013

By Elliott Wave International

"I always will be an Elliottician, but other technical tools have merit and are indeed worthwhile: they allow me to build a case, build a more confident reason for making a forecast and for taking a trade; making a trading decision."

-Jeffrey Kennedy

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Daily Forex Analysis – April 12, 2013

Friday, April 12th, 2013

USDJPY Analysis.
USDJPY’s upward movement from 92.56 extends to as high as 99.94. Further rise is still possible, and next target would be at 101.00 area. Support is at 98.35, as long as this level holds, the uptrend will continue. However, a breakdown below 98.35 will suggest that a cycle top is being formed on 4-hour chart, then deeper decline to 97.50 to complete the consolidation could be seen.

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Daily Forex Analysis – April 11, 2013

Thursday, April 11th, 2013

GBPUSD Analysis.
GBPUSD had formed a cycle top at 1.5363 on 4-hour chart. Key support is at the upward trend line, as long as the trend line support holds, the price action from 1.5363 could be treated as consolidation of the uptrend from 1.4831, and another rise towards 1.6000 is still possible. On the downside, a clear break below the trend line support will indicate that the uptrend from 1.4831 had completed at 1.5363 already, then the following downward movement could bring price to 1.4000 zone.

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Daily Forex Analysis – April 10, 2013

Wednesday, April 10th, 2013

AUDUSD Analysis.
AUDUSD breaks above 1.0496 resistance and reaches as high as 1.0508, suggesting that the uptrend from 1.0115 has resumed. Further rise is still possible, and next target would be at 1.0600 area. Support is at 1.0435, only break below this level will indicate that lengthier consolidation of the uptrend is underway, then another fall towards 1.0300 could be seen.

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