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Archive for August, 2013

Daily Forex Analysis – August 30, 2013

Friday, August 30th, 2013

GBPUSD Analysis.
GBPUSD stays within a upward price channel on 4-hour chart, and remains in uptrend from 1.4813 (Jul 9 low). As long as the channel support holds, the uptrend could be expected to resume, and one more rise towards 1.6000 is still possible. Resistance is at 1.5560, a break above this level will indicate that the fall from 1.5717 has completed, then further rise to test 1.5717 resistance could be seen. On the downside, a clear break below the channel support will suggest that the uptrend from 1.4813 had completed at 1.5717 already, then the following downward movement could bring price to 1.5000 zone.

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Daily Forex Analysis – August 29, 2013

Thursday, August 29th, 2013

GBPUSD Analysis.
GBPUSD’s downward movement from 1.5717 extends to as low as 1.5429. Deeper decline is still possible, and the target would be at the lower line of the price channel on 4-hour chart. As long as the channel support holds, the fall from 1.5717 could be treated as consolidation of the uptrend from 1.4813 (Jul 9 low), one more rise towards 1.6000 is still possible after consolidation. On the other side, a clear break below the channel support will indicate that the uptrend from 1.4813 had completed at 1.5717 already, then the following downward movement could bring price to 1.5000 zone.

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Bonds No Safe Haven from Stock Market Risk

Wednesday, August 28th, 2013

By Elliott Wave International

Two months ago, Federal Reserve Chairman Ben Bernanke said he was puzzled by the upward surge in Treasury yields. And bond yields are even higher now, reaching a two-year high on August 15.

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Daily Forex Analysis – August 28, 2013

Wednesday, August 28th, 2013

EURUSD Analysis.
EURUSD stays a in trading range between 1.3298 and 1.3451. The price action in the range is likely consolidation of the uptrend from 1.3206. As long as 1.3298 support holds, the uptrend could be expected to resume, and further rise to  1.3500 area is possible after consolidation. On the downside, a breakdown below 1.3298 support will indicate that lengthier consolidation of the longer term uptrend from 1.2756 is underway, then deeper decline to test 1.3206 support could be seen.

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Daily Forex Analysis – August 27, 2013

Tuesday, August 27th, 2013

USDCHF Analysis.
Being contained by 0.9130 (Jun 13 low) support, USDCHF rebounded from 0.9147, and moved sideways in a range between 0.9147 and 0.9289. Initial resistance is at 0.9289, as long as this level holds, the price action in the range could be treated as consolidation of the downtrend from 0.9396, another fall to re-test 0.9130 could be seen. On the upside, a break above 0.9289 resistance will indicate that lengthier consolidation of the longer term downtrend from 0.9751 is underway, then further rise to 0.9350 area is possible.

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Daily Forex Analysis – August 26, 2013

Monday, August 26th, 2013

GBPUSD Analysis.
GBPUSD is facing the support of the lower line of the price channel on 4-hour chart. A clear break below the channel support will indicate that the uptrend from 1.5102 had completed at 1.5717 already, then deeper decline to 1.5400 area could be seen. On the upside, as long as the channel support holds, the fall from 1.5717 would possibly be consolidation of the uptrend from 1.5102, one more rise towards 1.6000 is still possible after consolidation.

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Daily Forex Analysis – August 23, 2013

Friday, August 23rd, 2013

GBPUSD Analysis.
GBPUSD stays within a upward price channel on 4-hour chart, and remains in uptrend from 1.5102. Support is located at the lower line of the channel, as long as the channel support holds, the uptrend could be expected to resume, and one more rise towards 1.6000 is still possible. On the downside, a clear break below the channel support will indicate that the upward movement from 1.5102 had completed at 1.5717 already, then the following downward move could bring price back to 1.5400 zone.

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3 Dangerous Myths About Rising Bond Yields

Thursday, August 22nd, 2013

By Elliott Wave International

Editor’s note: The following article is the first in a series of three, reprinted with permission from market-leading financial forecasting firm Elliott Wave International. To read the full three-part report now, follow this link and download it for free

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Daily Forex Analysis – August 22, 2013

Thursday, August 22nd, 2013

GBPUSD Analysis.
Being contained by 1.5751 (Jun 17 high) resistance, GBPUSD pulls back from 1.5717, suggesting that consolidation of the uptrend from 1.5102 is underway. Deeper decline would likely be seen in a couple of days, and the target would be at the lower line of the price channel on 4-hour chart. As long as the channel support holds, the uptrend could be expected to resume, and another rise towards 1.6000 is still possible. On the downside, a clear break below the channel support will suggest that the uptrend from 1.5102 had completed at 1.5717 already, then the following downward movement could bring price to 1.5400 zone.

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Market Trends, Space Programs, Rogue Waves: None are Linear

Wednesday, August 21st, 2013

By Elliott Wave International

Let’s begin with the old paradox: "The only constant is change." This is the main reason why projecting present conditions into the financial future so often fails.

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