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Archive for November, 2013

Daily Forex Analysis – November 20, 2013

Wednesday, November 20th, 2013

USDCAD Analysis.
USDCAD remains in uptrend from 1.0182 (Sep 19 low), the price action from 1.0496 could be treated as consolidation of the uptrend. Key support is located 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 one more rise towards 1.0700 is still possible. On the downside, a clear break below the channel support will indicate that the uptrend from 1.0182 had completed at 1.0525 already, then the following downward movement could bring price to 1.3000 zone.

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Daily Forex Analysis – November 19, 2013

Tuesday, November 19th, 2013

AUDUSD Analysis.
After touching the upper line of the price channel on 4-hour chart, AUDUSD pulls back from 0.9418, suggesting that the pair remains in downtrend from 0.9756, the rise from 0.9269 could be treated as consolidation of the downtrend. Another fall towards 0.9000 would likely be seen over the next several days. Key resistance is at 0.9418, only break above this level could indicate that the downward movement from 0.9756 had completed at 0.9269 already, then the following uptrend could bring price to 1.0000 zone.

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Daily Forex Analysis – November 18, 2013

Monday, November 18th, 2013

AUDUSD Analysis.
AUDUSD is facing the resistance of the upper line of the price channel on 4-hour chart, as long as the channel resistance holds, the downtrend could be expected to resume, and one more fall towards 0.9000 is still possible. One the upside, a clear break above the channel resistance will suggest that the downtrend from 0.9756 had completed at 0.9269 already, then the following upward movement could bring price to 1.0000 zone.

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Daily Forex Analysis – November 15, 2013

Friday, November 15th, 2013

GBPUSD Analysis.
GBPUSD’s rise from 1.5854 extends to as high as 1.6101. Further rise to test 1.6259 resistance would likely be seen, a break above this level will signal resumption of the uptrend from 1.4813 (Jul 9 low), then the target would be at 1.7000 area. On the downside, a breakdown below 1.5854 support will confirm that the uptrend from 1.4813 had completed at 1.6259 already, then the following downward movement could bring price to 1.4500 zone.
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How to Find Trading Opportunities in ANY Market

Thursday, November 14th, 2013

By Elliott Wave International

Senior Analyst Jeffrey Kennedy is the editor of our Elliott Wave Junctures trader education service and is one of our most popular instructors. Today, Jeffrey shares a video lesson about trading one of his favorite Elliott wave patterns, the diagonal.

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Daily Forex Analysis – November 14, 2013

Thursday, November 14th, 2013

AUDUSD Analysis.
AUDUSD stays below a downward trend line on 4-hour chart, and remains in downtrend from 0.9756, the rise from 0.9269 could be treated as consolidation of the downtrend. As long as the trend line resistance holds, the downtrend could be expected to resume, and one more fall towards 0.9000 is still possible. On the upside, a clear break above the trend line resistance will indicate that the downtrend from 0.9756 had completed at 0.9269 already, the the following upward movement could bring price to 1.0000 area.

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Daily Forex Analysis – November 12, 2013

Tuesday, November 12th, 2013

EURUSD Analysis.
EURUSD is facing the resistance of the downward trend line on 4-hour chart, a clear break above the trend line will suggest that the downtrend from 1.3832 had completed at 1.3296 already, then the following upward movement could bring price back to 1.3700 area. On the downside, as long as the trend line resistance holds, the downtrend from 1.3832 could be expected to resume, and one more fall towards 1.3100 is still possible.

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Daily Forex Analysis – November 11, 2013

Monday, November 11th, 2013

EURUSD Analysis.
EURUSD stays below a downward trend line on 4-hour chart, and remains in downtrend from 1.3832, the rise from 1.3296 could be treated as consolidation of the downtrend. Key resistance is now at 1.3450, as long as this level holds, the downtrend could be expected to resume, and next target would be at 1.3200 area. On the upside, a clear break above the trend line resistance will indicate that the downtrend from 1.3832 had completed at 1.3296 already, then the following upward movement could bring price to 1.4000 zone.

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How to Find Trading Opportunities in ANY Market Using Candlesticks (Video)

Saturday, November 9th, 2013

By Elliott Wave International

Senior Analyst Jeffrey Kennedy is the editor of our Elliott Wave Junctures educational service and is 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. In today’s lesson, Jeffrey shows you how to use candlestick patterns to identify opportunities.

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Daily Forex Analysis – November 8, 2013

Friday, November 8th, 2013

USDJPY Analysis.
USDJPY breaks below 97.80 support, suggesting that the upward movement from 96.94 had completed at 99.41 already. Further decline to test the support of the lower line of the price channel on 4-hour chart would likely be seen, a clear break below the channel support will signal resumption of the longer term downtrend from 100.60 (Sep 11 high), then the target would be at 93.00 area. On the upside, as long as the channel support holds, the price action from 99.00 would possibly be consolidation of the uptrend from 96.57, one more rise towards 100.00 area is sit possible after consolidation.

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