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Analysis

Analysis (120)

29 October 2013

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Overview:

Since our last analysis, Gold has been trading sideways, around the level of 1,345.00 on ultra high volume (buying climax), and it may end the small bullish corrective phase as we expected. In the daily chart, we can observe lack of demand on the volume below the average, which is a sign that Gold may start bearish continuation. We are...

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29 October 2013

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Overview:

Since our last analysis, the EUR/NZD pair has been trading upwards, the price broke the previous high at 1.6510, tested 1.6686 on high volume and started the major bullish continuation earlier that we had planed. I placed Fibonacci and I got FR 61.8% at the price of 1.6800. I also calculated volume in the legs and I got increasing in...

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29 October 2013

Yesterday, we noted how increased was the probability to see an upward bounce in the Dollar index. Short-term resistance was broken and prices are starting to make an upward bounce towards the next resistance level at 79.85-95.

Short-term resistance is found at 79.70 and then at 79.85. Short-term support is found at 79.30 and 79.15. The upward move...

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29 October 2013

Gold has broken down as expected by our last analysis ending diagonal pattern, and we now expect prices to make a retracement of the entire rise from 1,250. Prices are expected to move at least towards the 38% Fibonacci retracement which is at 1,318.

Short-term support is found at 1,334 and then at 1,318 (our first target). Short-term resistance is...

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29 October 2013

 General overview for 29/10/2013 09:00 CET

Yesterday, Irregular Flat correction that should end somewhere into SUPPLY zone did not materialse, and the high of this move up was labeled as wave c green.

Currently, the wave progression is far from impulsive, so it looks like a Triangle formation in wave (b) navy will be formed, before further...

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29 October 2013

On Monday data on US Industrial production in September surpassed the expectations and the US dollar strengthened. US Capacity Utilization was 78.3% vs. forecast for 78.1% and August’s figure was revised upwardly from 77.8 to 77.9%. US Industrial Production rose 0.6% vs. forecast for 0.5% and 0.4% in August. The euro fell 23 points, the...

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29 October 2013

General overview for 29/10/2013 08:30 CET

Yesterday's price oscilating around Daily Pivot did not provide any further clues about a possible wave progression.

The count that fits the best so far is a Triangle pattern in wave 4 navy, and when it will be finished - wave 5 upside breakout. Choppy and overlaping price action - this is what Triangles are...

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29 October 2013

USD/CAD Elliott Wave Since our last analyses the USDCAD pair has been trading sideways, corrective wave .iv (coloured black) of the bigger wave A (coloured blue) has been developing.Yesterday, during the Asian session, we could observe descending movements from 1.0450 towards the 1.0427 level and with that move we ended the first...

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