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    by , 01-22-2013 at 02:16 AM (The Daily Forecaster)

    [B]22nd January:[/B]
    There are a lot of complications around. However, if this is a Wave ^e then it needs to develop as an ABC. From the 79.35 low we appear close to the end of a 5-wave move that should stall not too far above the 80.19 high - the 50% projection in Wave v at 80.33. This should form Wave -a- and thus trigger a correction in Wave -b- that I feel (referencing the daily chart) needs to be quite deep. Certainly, if it is a shallow correction there will be little chance of the Wave -c- stalling in the 58.6%-66.7% projection in Wave ^e between 80.44-59. Thus, this is critical and should the rally be more direct it will risk the potential for a stronger ...
    รูปขนาดเล็ก รูป    
  2. USDCAD is facing channel resistance

    by , 01-21-2013 at 09:35 PM (Free Forex Market Analysis)
    USDCAD is facing the resistance of the upper line of the price channel on 4-hour chart. As long as the channel resistance holds, the price action from 0.9824 is treated as consolidation of the downtrend from 1.0055 (Nov 16, 2012 high), and the downtrend could be expected to resume after touching the channel resistance. Support is at 0.9900, a breakdown below this level will indicate that a cycle top has been formed at 0.9946, and the downtrend from 1.0055 has resumed, then further decline towards 0.9700 could be seen. On the upside, a clear break above the channel resistance will indicate that the downtrend from 1.0055 had completed at 0.9815 already, then the following upward movement could bring price to 1.0200 zone.

  3. USDCAD broke above 0.9885 resistance

    by , 01-20-2013 at 09:48 PM (Free Forex Market Analysis)
    USDCAD broke above 0.9885 resistance and reached as high as 0.9946 last Friday, suggesting that lengthier consolidation of the downtrend from 1.0055 is underway. Further rise would likely be seen and the target would be at the upper line of the price channel on 4-hour chart. Support is at 0.9890, only break below this level could indicate that a cycle top has been formed at 0.9946, then further decline to test 0.9815 previous low support could be seen.

    Forex Signals
  4. USD/JPY Outlook January 21-25

    by , 01-20-2013 at 03:41 PM
    [COLOR=#444444][FONT=Arial][B][URL=""]USD/JPY[/URL] had a very short consolidation period, and quickly moved higher, breaking the 90 line. A highly anticipated rate decision and the accompanying BOJ Press Conference are the main events this week. Here’s an outlook for the Japanese events and an updated technical analysis for USD/JPY.[/B][/FONT][/COLOR]
    [COLOR=#444444][FONT=Arial]The BOJ is reluctantly warming up to [URL=""]aggressive monetary steps[/URL] pressured by the government, and this sent the yen lower. Will the new measures planned by the new Prime Minister Shinzo bail Japan out of recession? The BOJ is ...
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