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Archive for October, 2013

Daily Forex Analysis – October 31, 2013

Thursday, October 31st, 2013

AUDUSD Analysis.
AUDUSD remains in downtrend from 0.9756, and the fall extends to as low as 0.9441. Resistance is at 0.9565, as long as this level holds, the downtrend could be expected to continue, and next target would be at 0.9350 area. On the upside, a break above 0.9565 resistance will indicate that the downtrend from 0.9756 had completed at 0.9441 already, then the following upward movement could bring price to 1.0000 zone.

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Daily Forex Analysis – October 30, 2013

Wednesday, October 30th, 2013

GBPUSD Analysis.
GBPUSD stays in a trading range between 1.5894 and 1.6259. As long as 1.5894 support holds, the price action in the range could be treated as consolidation of the uptrend from 1.4813 (Jul 9 low), and one more rise towards 1.6600 is still possible after consolidation. On the downside, a breakdown below 1.5894 support will indicate that the uptrend from 1.4813 had completed at 1.6259 already, then the following downward movement could bring price back to 1.4500 zone.

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The US Federal Reserve – a Wedding Crasher Trying to Leave YOU with its Bill

Tuesday, October 29th, 2013

Ever heard of a wedding crasher? You know — that distant “cousin” who shows up uninvited, hangs around the open bar all night, chugs down double-everythings and falls on his butt on the dance floor — all before mysteriously vanishing and leaving his night of indulgence on the father of the bride’s tab.

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(VIDEO) What Is the Debt Situation in Europe and the U.S.?

Tuesday, October 29th, 2013

By Elliott Wave International

In this video clip from Steve Hochberg’s "Don’t Get Caught Holding the Bag" presentation, recorded at the San Francisco MoneyShow, Elliott Wave International’s Chief Market Analyst addresses a popular question we get at EWI. Enjoy this insight from Hochberg, then take a few minutes to learn how you can get Elliott Wave International’s newest free report: How to Protect Your Money When the U.S. Debt Bill Comes Due.

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Daily Forex Analysis – October 29, 2013

Tuesday, October 29th, 2013

USDJPY Analysis.
USDJPY is facing the resistance of the downward trend line on 4-hour chart. A clear break above the trend line resistance will indicate that the downtrend from 99.00 had completed at 96.94 already, then another rise towards 100.00 could be seen. On the downside, as long as the trend line resistance holds, the rise from 96.94 could be treated as consolidation of the downtrend from 99.00, one more fall to test 96.57 support is still possible after consolidation, and a breakdown below this level will signal resumption of the longer term downtrend from 100.60.

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Daily Forex Analysis – October 28, 2013

Monday, October 28th, 2013

USDCHF Analysis.
USDCHF stays within a downward price channel on 4-hour chart, and remains in downtrend from 0.9177. Initial resistance is at the upper line of the channel, as long as the channel resistance holds, the downtrend could be expected to continue, and next target would be at 0.8800 area. Key resistance is at 0.8965, a break above this level will indicate that the downtrend from 0.9177 had completed at 0.8890 already, then the pair will find resistance around 0.9100.

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Deflationary Forces Stymie the Fed’s Economic Rescue Efforts

Saturday, October 26th, 2013

By Elliott Wave International

The Federal Reserve’s efforts to rescue the economy have been historically aggressive, starting with the initial round of quantitative easing in 2008 and continuing through 2013.

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Learn to Spot a Head & Shoulders Pattern in Your Charts (Video)

Friday, October 25th, 2013

By Elliott Wave International

Senior Analyst Jeffrey Kennedy is the editor of our Elliott Wave Junctures trader education service and one of our most popular instructors. Jeffrey’s primary analytical method is the Elliott Wave Principle, but he also uses several other technical tools to supplement his analysis.

You can apply these methods across any market and any timeframe. Enjoy this lesson and then find out how you can get additional trading lessons from Elliott Wave International.

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Daily Forex Analysis – October 25, 2013

Friday, October 25th, 2013

USDJPY Analysis.
USDJPY’s fall from 99.00 extends to as low as 97.15. Resistance is now located at the downward trend line on 4-hour chart, as long as the trend line resistance holds, the short term downtrend from 99.00 could be expected to continue, and deeper decline to test 96.57 support would likely be seen, a breakdown below this level will signal resumption of the longer term downtrend from 100.60, then the target would be at 94.50 – 95.00 area. However, as long as 96.57 support holds, the fall from 99.00 could be treated as correction of the uptrend from 96.57, one more rise to 100.00 area is still possible.

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Daily Forex Analysis – October 24, 2013

Thursday, October 24th, 2013

AUDUSD Analysis.
AUDUSD breaks below the upward trend line on 4-hour chart, suggesting that consolidation of the uptrend from 0.9280 is underway. Deeper decline is still possible and the target would be at 0.9550 area. As long as 0.9550 support holds, the uptrend could be expected to resume, and one more rise towards 1.0000 could be expected after consolidation. On the downside, a breakdown below 0.9550 support will suggest that lengthier consolidation of the longer term uptrend from 0.8847 (Aug 5 low) is needed, then the target would be at 0.9500 area.

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