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The miserable trading conditions in USDJPY are probably explained by its long term Elliott wave position. That is, the rate has been mired in a corrective 4th wave all year. The good news is that wave 4 probably ends soon. Keep focused on the Elliott channel...
Wave Count
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Peter Gervas, 11 August 2014, 02:10
Fundamental Forecast for British Pound: Neutral All Eyes Are on the BOE Quarterly Inflation Report in the Week Ahead British Pound May Correct Higher Absent Major Dovish Rhetoric Shift The outlook for monetary policy continues to be the dominant driver of British Pound price action...
Forecasts
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Mike Dennis, 11 August 2014, 00:04 #GDP
“Don’t forget about the line that extends off of the 1996 and 2007 highs. That line crosses through the 2008, 2011, and highs as well. In 2011 (record free float high), the rate surged through the line in late July before topping on August 1st...
Weekly Trends
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Mike Dennis, 10 August 2014, 22:22 #nzdusd
“The combination of the .9400 figure and weekly RSI failing near 60 indicates a lot of overhead to punch through. Since the 2011 top, each RSI failure near 60 has led to a top or topping process (range for several weeks then a breakdown...that may be the case now).” The May low and 200 DMA at...
Trading Systems
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BlondieNews, 10 August 2014, 19:21
“Of note is a weekly outside reversal and weekly RSI rolling over from above 70 this week. Prior instances of RSI rolling over (2004, 2006, and 2007) from above 70 indicated tops of at least several months...
Currency
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Lonny Strike, 10 August 2014, 16:22 #resistance, support
“Long term, a failed breakout and top would keep with the pattern of 3 year cycle tops. 1.3750 is an important reference point (year open).” The break of 1.3476 completed a topping process with targets of 1.3294 (origin of diagonal), 1.3209 (2 equal legs), and 1.3012 (head and shoulders target...
Trading Systems
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Ray Steve, 10 August 2014, 12:11
In recent hours the AUDUSD is easing back a little after dropping so sharply in the last 24 hours from above 0.9350 down to a two week low at 0.9260. In the last 48 hours the Australian dollar had surged higher to a one week high near 0.9375, before easing back and then falling sharply...
Currency
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Patti, 10 August 2014, 10:10 #resistance, support
Swing Highs and Lows The first thing that we need to recognise is what is a Swing High and Swing Low. This is probably the easiest part of price action and bar counting although the whole process gets easier with practice. I define a swing high as; A three bar combination...
Trading Strategies
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Natasya Saad, 10 August 2014, 08:48 #Trading Strategies
Stock Investing Advices #1: Simple Business Model It is not just about simplicity, but also something that you can understand. Stock Investing Advices #2: Wide Economic Moat Simply said, the company should serve valuable niche market with price inelastic products or services...
Trading Strategies
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Ray Steve, 10 August 2014, 07:12 #investing
1. Stock market investing vs. trading. Real stock market professionals understand that you cannot make money fast by investing into dividend paying stocks for the long haul. Stock trading is the only way for fast stock market investing success...
Market News
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Lonny Strike, 10 August 2014, 01:02 #investing, Trading
Key Terms And Concepts When it comes to forex trading, there are some basic terms and concepts that should be understood: Exchange rate: Exchange rate is simply the price of one currency in terms of another's. There are two components, the domestic currency and the foreign currency...
Trading Systems
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BlondieNews, 9 August 2014, 21:18
A Double Bottom is formed when price tests a previous low and bounces. Buy orders can be placed just above previous low. Limit orders can be set at most recent swing high, stop set 33% of limit distance. One way to trade ranges, is to look for the Double Bottom chart pattern...
Weekly Trends
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Mike Dennis, 9 August 2014, 18:03
Estimated pivot point is at the level of 1.0880. Our opinion: Buy the pair from correction above the level of 1.0880 with the target of 1.10 – 1.1050. Alternative scenario: Breakout of the level of 1.0880 will allow the pair to continue the decline to the level of 1.08...
Weekly Trends
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Abdolreza Basirizadeh, 9 August 2014, 17:30 #Elliott Waves
Estimated pivot point is at the level of 101.00. Our opinion: Buy the pair from correction above the level of 101.00 with the target of 104.10. Alternative scenario: Breakout of the level of 101.00 will allow the price to continue the decline to the level of 99.50...
Weekly Trends
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Abdolreza Basirizadeh, 9 August 2014, 17:26 #Elliott Waves
Estimated pivot point is at the level of 0.9040. Our opinion: Buy the pair from the correction above the level of 0.9040 with the target of 0.9180 – 0.92. Alternative scenario: Breakout of the level of 0.9040 will enable the pair to continue the decline to the levels of 0.90 – 0.8950...
Weekly Trends
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Abdolreza Basirizadeh, 9 August 2014, 17:23 #usdchf, Elliott Waves
Estimated pivot point is at the level of 1.6890. Our opinion: In the short-term: sell the pair from correction below the level of 1.6890 6925 with the target of 1.6730. In the medium-term: wait for the completion of the fifth wave and in case of reversal, sell the pair with the target of 1.70...
Weekly Trends
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Abdolreza Basirizadeh, 9 August 2014, 17:20 #Elliott Waves
Estimated pivot point is at the level of 1.3450. Our opinion: In the short-term: sell the pair from correction above the level of 1.3330 with the target o 1.3450. In the medium-term: sell the pair from correction below the level of 1.3450 with the target of 1.32...
Weekly Trends
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Abdolreza Basirizadeh, 9 August 2014, 17:18 #Elliott Waves
Prices are attempting to recover after putting in a bullish Piercing Line candlestick pattern above support at a rising trend line set from June 2012. Near-term resistance is at 98.93, the 14.6% Fibonacci expansion, with a break above that exposing the 23.6% level at 100.41...
Crude Oil
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Peter Gervas, 9 August 2014, 15:34 #Fibonacci, crude oil
Prices launched higher as expected after putting in a bullish Piercing Line candlestick pattern. Resistance is now at 1320.12, the 38.2% Fibonacci expansion. A break above that on a daily closing basis exposes the 50% level at 1332.49. Alternatively, a reversal below the 23.6% Fib at 1304...
Metals
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Rachael Taylor, 9 August 2014, 12:21 #xauusd, resistance, gold
Prices declined as expected after putting in a bearish Evening Star candlestick pattern with negative RSI divergence. A break below the 38.2% Fibonacci retracement at 1921.80 has exposed the 50% level at 1900.30. Moving further below that eyes the 61.8% Fib at 1878.70...
Market News
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Volya, 9 August 2014, 09:31 #S&P 500