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Archive for June, 2013

Daily Forex Analysis – June 28, 2013

Thursday, June 27th, 2013

USDCAD Analysis.
USDCAD remains in uptrend from 1.0137, the fall from 1.0556 is likely consolidation of the uptrend. Another rise towards 1.0600 is still possible after consolidation, and a break above 1.0556 resistance could signal resumption of the uptrend. Key support is now at 1.0424, only break below this level could indicate that the upward movement from 1.0137 is complete, then the following downward movement could bring price back to 1.0200 zone.

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Daily Forex Analysis – June 27, 2013

Thursday, June 27th, 2013

USDJPY Analysis.
USDJPY continues its sideways movement in a range between 96.86 and 98.70. Key support is located at 96.86, as long as this level holds, the price action in the range could be treated as consolidation of the uptrend from 93.79, one more rise to 100.00 area is still possible after consolidation. On the downside, a breakdown below 96.86 support will indicate that the upward movement from 93.79 had completed at 98.70 already, then the following downward movement could bring price back to 95.00 zone.

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Daily Forex Analysis – June 26, 2013

Wednesday, June 26th, 2013

USDJPY Analysis.
USDJPY traded in a narrow range between 96.86 and 98.70. The price action in the range is likely consolidation of the uptrend from 93.79. Further rise would likely be seen after consolidation, and next target would be at 100.00 area. Key support is at 96.86, only break below this level will indicate that the uptrend from 93.79 had completed at 98.70 already, then the following downward movement could bring price back to 95.50 zone.

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Stunning Chart Shows Gold and Silver Defy Bulls’ Optimism

Tuesday, June 25th, 2013

<>By Elliott Wave International</>

Gold and silver have been all over the financial news.

On Thursday, June 20, silver fell below $20 (-60% from 2011 high), and gold fell below $1300 (-30% from 2011 high).

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Daily Forex Analysis – June 25, 2013

Tuesday, June 25th, 2013

USDJPY Analysis.
USDJPY remains in uptrend from 93.79, the fall from 98.70 is likely minor consolidation of the uptrend. Further rise could be expected after consolidation, and next target would be at 100.00 area. Support is at 96.80, as long as this level holds, the uptrend will continue. On the downside, a breakdown below 96.80 support will indicate that the upward movement from 93.79 has completed at 98.70 already, then the following downward movement could bring price back to test 93.79 support.

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Daily Forex Analysis – June 24, 2013

Monday, June 24th, 2013

USDJPY Analysis.
USDJPY’s upward movement from 93.79 extends to as high as 98.56. Further rise would likely be seen, and next target would be at 100.00 area. However, the rise from 93.79 would possibly be correction of the downtrend from 103.73, another fall is still possible after correction. Support is now at 96.80, a breakdown below this level will indicate that the upward movement from 93.79 has completed, then the following downward move could bring price back towards 85.00.

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Gold and Silver: A Great Day to be a Bear

Friday, June 21st, 2013

By Elliott Wave International

In the wee morning hours before dawn on Thursday, June 20, the precious metals’ rooster crowed, "Cock-a-doodle-DOH!"

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Daily Forex Analysis – June 21, 2013

Friday, June 21st, 2013

USDCAD Analysis.
USDCAD’s upward movement from 1.0137 extends to as high as 1.0393. Further rise to test 1.0420 previous high resistance could be expected, and a break above this level will indicate that the long term uptrend from 0.9632 (Sep 14, 2012 low) has resumed, then next target would be at 1.0600 area. Initial support is at 1.0330, only break below this level will suggest that consolidation of the uptrend from 1.0137 is underway, then the pair will find support around 1.0280.

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Daily Forex Analysis – June 20, 2013

Thursday, June 20th, 2013

USDCAD Analysis.
USDCAD broke above the resistance of the upper line of the price channel on 4-hour chart, and is now in uptrend from 1.0137, and the rise extends to as high as 1.0290. Further rise could be expected, and next target would be at 1.0350 area. Support is at 1.0200, only break below this level could trigger another fall towards 1.0000.

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Daily Forex Analysis – June 19, 2013

Wednesday, June 19th, 2013

USDCHF Analysis.
Being contained by the resistance of the upper line of the price channel on 4-hour chart, USDCHF pulls back from 0.9271, suggesting that the pair remains in downtrend from 0.9838, and the rise from 0.9130 could be treated as consolidation of the downtrend. Further decline to test 0.9130 previous low support could be expected, a breakdown below this level will signal resumption of the downtrend, then next target would be at 0.9000 area. Key resistance is at 0.9271, only break above this level could indicate that the downtrend from 0.9838 had completed at 0.9130 already, then the following upward movement could bring price back to 0.9400 zone.

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