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Archive for August, 2013

Daily Forex Analysis – August 21, 2013

Wednesday, August 21st, 2013

USDJPY Analysis.
USDJPY stays below a downward trend line on 4-hour chart, and remains in downtrend from 101.53, the rise from 95.81 could be treated as consolidation of the downtrend. Another fall to 95.00 to complete the downward movement would likely be seen in a couple of days. Resistance is at the trend line, only break above the trend line resistance will indicate that the downtrend from 101.53 is complete.

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Daily Forex Analysis – August 19, 2013

Monday, August 19th, 2013

USDJPY Analysis.
USDJPY failed to break above the resistance of the downward trend line on 4-hour chart, and pulled back from 98.64, suggesting that the pair remains in downtrend from 101.53. Further decline would likely be seen, and next target would be at 96.00 area. Key resistance is located at the trend line, only a clear break above the trend line resistance could signal completion of the downtrend.

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Daily Forex Analysis – August 16, 2013

Friday, August 16th, 2013

USDJPY Analysis.
Being contained by the resistance of the downward trend line on 4-hour chart, USDJPY pulls back from 98.64. The fall from 98.64 would possibly be resumption of the downtrend from 101.53. Further decline would likely be seen in a couple of days, and next target would be at 96.00 area. Key resistance is at the trend line, only a clear break above the trend line resistance will indicate that the downtrend from 101.53 had completed at 95.81 already, then the following upward move could bring price to 102.50 zone.

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Daily Forex Analysis – August 15, 2013

Thursday, August 15th, 2013

AUDUSD Analysis.
AUDUSD is forming a sideways consolidation in a range between 0.8847 and 0.9317. Another fall to test 0.8847 support would likely be seen, a breakdown below this level will signal resumption of the downtrend from 1.0582 (Apr 11 high). Key resistance is at 0.9317, only break above this level will indicate that the downtrend from 1.0582 had completed at 0.8847 already, then the following upward movement could bring price to 1.0000 zone.

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Urgent Free Metals Report: Read Bob Prechter’s Big 5 Gold Warnings for Bulls and Bears

Wednesday, August 14th, 2013

Gold and silver have been THE financial news in recent weeks. The coverage began during mid-April’s three-day price decline, but the real precious metals story goes back further than that. Since 2011, gold and silver have declined more than 30% and 50%, respectively. Continue reading to learn more, or get ahead of the trend by reading Bob Prechter’s Big 5 Gold Warnings for Bulls and Bears! Read more about Prechter’s urgent report now.

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Daily Forex Analysis – August 14, 2013

Wednesday, August 14th, 2013

USDJPY Analysis.
USDJPY’s rise from 95.81 extends to as high as 98.34. Further rise to test the resistance of the downward trend line would likely be seen, as long as the trend line resistance holds, the rise from 95.81 could be treated as consolidation of the downtrend from 101.53, another fall to 95.00 to completed the downward movement is still possible. On the upside, a clear break above the trend line resistance will indicate that the downtrend from 101.53 had completed at 95.81 already, then further rise to test 103.73 (May 22 high) resistance could be seen.

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Daily Forex Analysis – August 13, 2013

Tuesday, August 13th, 2013

USDCHF Analysis.
USDCHF remains in downtrend from 0.9751, the rise from 0.9174 could be treated as consolidation of the downtrend. Resistance is at the upper line of the downward price channel on 4-hour chart, as long as the channel resistance holds, the downtrend could be expected to resumed, and another fall towards 0.9000 is still possible. On the upside, a clear break above the channel resistance will indicate that the downtrend from 0.9751 had completed at 0.9174 already, then the following upward movement could bring price to 0.9500 zone.

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Daily Forex Analysis – August 12, 2013

Monday, August 12th, 2013

AUDUSD Analysis.
AUDUSD continues its upward movement from 0.8847, and the rise extends to as high as 0.9213. Further rise to test 0.9317 key resistance is possible, as long as this level holds, the rise could be treated as consolidation of the downtrend from 1.0582 (Apr 11 high), and sideways movement in a range between 0.8847 and 0.9317 would likely be seen over the next several days. However, a break above 0.9317 resistance will indicate that the downtrend from 1.0582 had completed at 0.8847 already, then the following upward movement could bring price to 1.0000 zone.

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(VIDEO) A Basic Technical Trading Lesson on the Fractal Nature of Markets

Saturday, August 10th, 2013

By Elliott Wave International

If you’re like many traders and investors, you may not be particularly familiar with price charts. Sure, you see them flash onscreen as financial media announce market moves — but you likely pay more attention to the fundamentals (financial statements, economic news, P/E ratios, etc.) than you do to the technical data.

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Registration is Now Open: Learn How to Uncover Hidden Trading Opportunities

Friday, August 9th, 2013

If you aim to spot high-confidence trading and investing opportunities, you may know that technical analysis — forecasting market trends via the analysis of price charts and data — can give you an edge.

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