How to Set Protective Stops Using the Wave Principle
By Elliott Wave International The 3 simple rules of Elliott wave analysis can help traders manage risk, ride market trends and spot price reversals.
Month: June 2011
Daily Forex Analysis – June 21, 2011
GBPUSD Analysis. Being contained by 1.6059 support, GBPUSD rebounded from 1.6078, and formed a cycle bottom on 4-hour chart. Range trading between 1.6078 and 1.6250 is expected in a couple of days. Key resistance is at downtrend...
Daily Forex Analysis – June 20, 2011
EURUSD Analysis. Being contained by 1.3969 support, EURUSD rebounded from 1.4073. Resistance is now at the downtrend line on 4-hour chart. As long as the trend line resistance holds, the bounce from 1.4073 is treated as consolidation...
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Daily Forex Analysis – June 17, 2011
EURUSD Analysis. EURUSD continued its downward move from 1.4696, and the fall extended further to as low as 1.4073, the subsequent bounce could be treated as consolidation of downtrend. Resistance is at 1.4300, as long as this...
Daily Forex Analysis – June 16, 2011
AUDUSD Analysis. AUDUSD’s rise from 1.0522 was limited by the upper border of the price channel on 4-hour chart. Now the fall from 1.0715 would possibly be resumption of downtrend. Further fall would likely be seen later...
Six Straight Weeks of Decline Take DJIA Below 12,000: What Now?
By Elliott Wave International As of June 10, the Dow has suffered the "longest losing streak since the fall of 2002. The market’s last seven-week stretch of losses began in May 2001, as the dot-com bubble deflated,"...
Daily Forex Analysis – June 15, 2011
EURUSD Analysis. EURUSD’s bounce from 1.4321 extended to as high as 1.4497, suggesting that a cycle bottom had been formed at 1.4321 on 4-hour chart. Lengthier consolidation of downtrend from 1.4696 is possible in a couple of...
Daily Forex Analysis – June 14, 2011
EURUSD Analysis. EURUSD remains in downtrend from 1.4696, the bounce from 1.4321 is likely consolidation of downtrend. Resistance is at 1.4460, as long as this level holds, downtrend could be expected to resume, and another fall towards...
Daily Forex Analysis – June 13, 2011
USDCAD Analysis. After touching the trend line from 0.9513 to 0.9655, USDCAD rebounded from 0.9712, suggesting that a cycle bottom is being formed on 4-hour chart. Further rise towards 0.9851 is expected later today, a break above...