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Urgent Free Metals Report: Read Bob Prechter’s Big 5 Gold Warnings for Bulls and Bears
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 [...]
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Daily Forex Analysis – May 24, 2013
EURUSD Analysis. EURUSD remains in downtrend from 1.3242, the price action from 1.2796 is treated as consolidation of the downtrend. Range trading between 1.2796 and 1.2998 would likely be seen in a couple of days. Key resistance is at 1.2998, as long as this level holds, the downtrend could be expected to resume, and one [...]
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Daily Forex Analysis – May 23, 2013
USDJPY Analysis. USDJPY remains in uptrend from 97.01, and the rise extends to as high as 103.73. Support is at the upward trend line on 4-hour chart, as long as the trend line support holds, the uptrend could be expected to continue, and next target would be at 105.00 area. On the downside, a clear [...]
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Daily Forex Analysis – May 22, 2013
EURUSD Analysis. EURUSD’s rise from 1.2796 extends to as high as 1.2938. However, the rise is likely consolidation of the downtrend from 1.3242. Resistance is located 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 resume, and one more [...]
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Daily Forex Analysis – May 21, 2013
USDCAD Analysis. Being contained by 1.0341 resistance, USDCAD pulls back from 1.0312. However, the fall is likely consolidation of the uptrend from 1.0013, one more rise to re-test 1.0341 resistance is possible, a break above this level will signal resumption of the longer term uptrend from 0.9632 (Sep 14, 2012 low), then next target would [...]
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Daily Forex Analysis – May 20, 2013
USDCAD Analysis. USDCAD broke above the upper line of the price channel on 4-hour chart, suggesting that the downward movement from 1.0341 (Mar 1 high) had completed at 1.0013 already. Further rise to test 1.0341 resistance would likely be seen, a break above this level will indicate that the uptrend from 0.9632 (Sep 14, 2012 [...]
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How to Spot Trading Opportunities — complimentary 47-page eBook
Free 47-Page eBook: How to Spot Trading Opportunities Elliott Wave International has released a free 47-Page eBook, How to Spot Trading Opportunities. Created from the $129 two-volume set of the same name, it’s available free until June 3. Learn more. What if you could look at a chart and see the potential trading opportunities? Elliott [...]
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Daily Forex Analysis – May 17, 2013
USDCAD Analysis. USDCAD is facing the resistance of the upper line of the price channel on 4-hour chart, a clear break above the channel resistance will indicate that the downtrend from 1.0341 (Mar 1 high) had completed at 1.0013 already, then the following upward movement could bring price to 1.0500 area. On the downside, as [...]
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Daily Forex Analysis – May 16, 2013
USDCAD Analysis. Being contained by the resistance of the upper line of the price channel on 4-hour chart, USDCAD pulls back from 1.0219, suggesting that the upward movement from 1.0013 has completed. Now the fall from 1.0219 would possibly be resumption of the longer term downtrend from 1.0341 (Mar 1 high). Further decline could be [...]
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Daily Forex Analysis – May 15, 2013
USDJPY Analysis. USDJPY continues its upward movement from 98.58, and the rise extends to as high as 102.42. Support is at 101.20, as long as this level holds, the uptrend could be expected to continue, and next target would be at 104.00 area. On the downside, a breakdown below 101.20 will suggest that consolidation of [...]
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Daily Forex Analysis – May 14, 2013
GBPUSD Analysis. GBPUSD breaks below the support of the upward trend line from 1.4831 to 1.5034, suggesting that the uptrend from 1.4831 (Mar 12 low) had completed at 1.5605 already. The pair is now in downtrend from 1.5605. Further decline would likely be seen over the next several days, and next target would be at [...]
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Daily Forex Analysis – May 13, 2013
GBPUSD Analysis. GBPUSD is testing the support of the upward trend line from 1.4831 to 1.5034, a clear break below the trend line support will indicate that the uptrend from 1.4831 (Mar 12 low) had completed at 1.5605 already, then the following downward movement could being price to 1.5000 zone. On the upside, as long [...]
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Read this New Special Report before Gold and Silver Drop Further
As I write this post, gold is down more than 3% for the morning of Friday, May 10. Major pullbacks like Friday’s are often followed by big bounces, but as gold and silver threaten to breach the recent April lows, many investors have an important question in mind: Are we in the early stages of [...]
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Daily Forex Analysis – May 10, 2013
USDCAD Analysis. USDCAD remains in downtrend from 1.0293, the price action from 1.0051 is likely consolidation of the downtrend. Resistance is now located at 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 another fall towards 1.0000 is possible. [...]
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Daily Forex Analysis – May 9, 2013
GBPUSD Analysis. GBPUSD is in uptrend from 1.4831 (Mar 12 low), the fall from 1.5605 is treated as consolidation of the uptrend. Initial support is at 1.5447, and the key support is located at the upward trend line from 1.4831 to 1.5034. As long as the trend line support holds, the uptrend could be expected [...]
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Daily Forex Analysis – May 8, 2013
GBPUSD Analysis. GBPUSD breaks below 1.5469 support, suggesting that consolidation of the uptrend from 1.4831 (Mar 12 low) is underway. Deeper decline would likely be seen, and the target would be at the upward trend line from 1.4831 to 1.5034. Key resistance is at 1.5605, only break above this level could trigger another rise to [...]
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Daily Forex Analysis – May 7, 2013
GBPUSD Analysis. GBPUSD moves sideways in a narrow range between 1.5469 and 1.5605. As long as 1.5469 support holds, the price action in the range is treated as consolidation of the uptrend from 1.5197, another rise to 1.5700 area is still possible after consolidation, and a break above 1.5605 resistance could signal resumption of the [...]
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Daily Forex Analysis – May 6, 2013
GBPUSD Analysis. GBPUSD remains in uptrend from 1.5197, the fall from 1.5605 is likely minor consolidation of the uptrend. Support is at 1.5465, as long as this level holds, the uptrend could be expected to resume, and next target would be at 1.5700 area. On the downside, a breakdown below 1.5465 will indicate that consolidation [...]
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How a Fibonacci Cluster Showed an Important Resistance Level in Gold
By Elliott Wave International If you use Elliott in your technical analysis, you may already use Fibonacci ratios to determine targets and retracement levels in your charts. But have you heard of "Fibonacci Clusters?" Elliott Wave Junctures editor Jeffrey Kennedy shares his charts to illustrate this technique, which he recently used to identify a critical [...]
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Daily Forex Analysis – May 3, 2013
USDCAD Analysis. USDCAD remains in downtrend from 1.0293, the rise from 1.0051 is likely consolidation of the downtrend. Resistance is at 1.0145, as long as this level holds, another fall could be expected after consolidation, and a breakdown below 1.0051 could signal resumption of the downtrend. On the upside, a break above 1.0145 will suggest [...]
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