Daily Forex Analysis

lol snaps: drunk and die

2011-10-21T19:33:00.000-07:00

Daily Forex Analysis – November 15, 2010

2010-11-14T23:13:00.001-08:00

EURUSD Analysis. EURUSD’s downward move from 1.4281 extended to as low as 1.3574 level. As long as 1.3825 key resistance holds, the bounce from 1.3574 is treated as consolidation of downtrend and another fall to 1.3450-1.3500 area is still possible. However, a break above 1.3825 resistance will indicate that the fall from 1.4281 has completed at 1.3574 already, then the following upward move could bring price back to 1.4000-1.4100 area.

USDCAD Analysis. USDCAD has reached the upper boundary of the falling price channel on 4-hour chart, pullback to re-test 0.9979 support would likely be seen later today. On the upside, a clear break above the channel resistance will indicate that the fall from 1.0372 is complete, then further rally towards 1.0372 could be seen.

USDJPY Analysis. USDJPY’s fall from 82.79 reached 81.65 only, the price action is likely consolidation of upward move from 80.30. Now the pair is facing 82.79 resistance, a break above this level could indicate that uptrend has resumed, then further rally could be seen to 84.00-85.00 zone. Support is at 81.65, only break below this level could trigger another fall towards 80.30 previous low.

GBPUSD Analysis. GBPUSD is forming a sideways consolidation in a trading range between 1.5953 and 1.6298. Further rise is expected later today and target would be at 1.6230-1.6250 area. Key resistance is at 1.6298 previous high, a break above this level will indicate that the longer term uptrend from 1.5296 (Sep 7 low) has resumed, then another rise towards 1.6500 could be seen.

USDCHF Analysis. USDCHF continues its upward move from 0.9548. Key support is at 0.9670, as long as this level holds, further rise to 0.9850-0.9900 area to reach next cycle top on 4-hour chart is possible, only break below 0.9670 could trigger another fall towards 0.9463 previous low.

AUDUSD Analysis. AUDUSD’s fall from 1.0182 extended to as low as 0.9825. Deeper decline to 0.9750-0.9800 area to reach next cycle bottom is possible, and next cycle bottom is nearing. Resistance is at 0.9950, above this level will suggest that next cycle bottom is being formed.

Daily Forex Analysis – November 12, 2010

2010-11-14T23:12:00.001-08:00

EURUSD Analysis.EURUSD continues its downward move from 1.4281, and the fall extends to as low as 1.3601 level. Resistance is at 1.3825, as long as this level holds, downtrend is expected to continue and next target would be at 1.3500 area. However, a break above 1.3825 resistance will indicate that a cycle bottom has been formed on 4-hour chart and the fall from 1.4281 has completed.

USDCAD Analysis.USDCAD continues its sideways movement in a range between 0.9979 and 1.0093. The price action in the trading range is treated as consolidation of downtrend from 1.0372. Downtrend is expected to resume after touching the upper border of the falling price channel on 4-hour chart.

USDJPY Analysis.USDJPY may be forming a cycle top at 82.79 level on 4-hour chart, key support is now at 82.03, a breakdown below this level could confirm the cycle top, then another fall towards 80.30 previous low could be seen. Resistance is at 82.79, only break above this level could trigger another rise to 83.50-84.00 area.

GBPUSD Analysis.GBPUSD formed a cycle bottom at 1.5953 level on 4-hour chart. Range trading between 1.5953 and 1.6298 is expected in a couple of days. Resistance is at 1.6298, a break above this level could indicate that the longer term uptrend from 1.5296 (Sep 7 low) has resumed, then another rise towards 1.6500 could be seen.

USDCHF Analysis.USDCHF’s bounce from 0.9548 extended further to as high as 0.9785. Support is at 0.9670, as long as this level holds, upward movement is expected to continue and next target would be at 0.9850 area. However, a break below 0.9670 will indicate that the bounce from 0.9548 is complete, then another fall towards 0.9463 could be seen to follow.

AUDUSD Analysis.AUDUSD’s fall from 1.0182 extends to as low as 0.9942. Deeper decline is still possible later today and next target would be at 0.9900 area. However, the fall from 1.0182 is more likely consolidation of uptrend, another rise could be expected after consolidation and a break above 1.0182 could signal resumption of uptrend.

Daily Forex Analysis – November 11, 2010

2010-11-11T01:40:00.000-08:00

USDCAD Analysis. USDCAD moves sideways in a range between 0.9979 and 1.0093. Now the price action in the trading range is more likely consolidation of downtrend from 1.0372. Another fall to test 0.9979 support is expected later today, a breakdown below this level could trigger another fall towards 0.9500 area. Resistance is at 1.0093, only break above this level would suggest that lengthier consolidation of downtrend is underway, then further rally could be seen to 1.0150 zone.

USDJPY Analysis. USDJPY broke above 81.98 resistance and reached as high as 82.79 level. The subsequent pullback suggests that a cycle top is being formed on 4-hour chart. Another fall towards 80.30 previous low would more likely be seen in a couple of days. Resistance is at 82.79, only break above this level could trigger another rise to 83.50-84.00 area.

GBPUSD Analysis. GBPUSD is forming a cycle bottom at 1.5953 level on 4-hour chart. Range trading between 1.5953 and 1.6298 is expected in a couple of days. Resistance is at 1.6298, a break above this level could indicate that the longer term uptrend from 1.5296 (Sep 7 low) has resumed, then another rise towards 1.6500 could be seen.

EURUSD Analysis. EURUSD broke below 1.3698 support, suggesting that consolidation of the longer term uptrend from 1.1876 (Jun 7 low) is underway. Deeper decline is still possible later today and next target would be at 1.3550-1.3600 area. Resistance is at 1.3973, above this level could indicate that a cycle bottom has been formed at 1.3671 level on 4-hour chart, then sideways movement in a range between 1.3671 and 1.4281 could be seen.

USDCHF Analysis. USDCHF has formed a cycle bottom at 0.9548 level on 4-hour chart. Another rise would more likely be seen later today and next target would be at 0.9850 area. Support is at 0.9630, only break below this level could trigger another fall towards 0.9463 previous low.

AUDUSD Analysis. AUDUSD’s fall from 1.0182 extended to as low as 0.9975. Deeper decline is still possible later today and next target would be at 0.9900 area. However, the fall from 1.0182 is more likely consolidation of uptrend, another rise could be expected after consolidation and a break above 1.0182 could signal resumption of uptrend.

Daily Forex Analysis – November 10, 2010

2010-11-11T01:39:00.001-08:00

USDCAD Analysis. Being contained by 0.9979 support, USDCAD rebounded to as high as 1.0093 level, suggesting that a cycle bottom is being formed on 4-hour chart. Range trading between 0.9979 and 1.0150 would more likely be seen in a couple of days. Key support is at 0.9979, only break below this level could trigger another fall towards 0.9500 zone.

USDJPY Analysis. USDJPY stays in a trading range between 80.30 and 81.98 and is now facing 81.98 key resistance, a break above this level will indicate that the downward movement from 85.92 (Sep 17 high) has completed at 80.30 already, then the following upward move could bring price back to 83.00-84.00 area. As long as 81.98 resistance holds, downtrend could be expected to resume and one more fall towards 79.75 (1995 low) is still possible.

GBPUSD Analysis. GBPUSD broke below the rising price channel on 4-hour chart, suggesting that a cycle top has been formed at 1.6298 level. Deeper decline is expected in a couple of days and next target would be at 1.5800-1.5900 area.

EURUSD Analysis. EURUSD dropped sharply from 1.4281 and reaches as low as 1.3736 level. Deeper decline to test 1.3698 key support is still possible later today, a break below this level will indicate that lengthier consolidation of the long term uptrend from 1.1876 (Jun 7 low) is underway, then the pair would find support at 1.3500 area.

USDCHF Analysis. USDCHF is forming a cycle bottom at 0.9548 level on 4-hour chart. Bounce to 0.9850 area to reach next cycle top is expected in a couple of days. Support is at 0.9548, only break below this level could trigger another fall towards 0.9463 previous low.

AUDUSD Analysis. AUDUSD broke below the rising price channel on 4-hour chart, suggesting that a cycle top has been formed at 1.0182 level. Deeper decline is still possible later today and next target would be at 0.9900 area. Resistance is at 1.0182, only break above this level would trigger another rise towards 1.0400 area.

Daily Forex Analysis – November 8, 2010

2010-11-11T01:38:00.001-08:00

USDJPY Analysis. USDJPY moved sideways in a range between 80.30 and 81.98 for several weeks. Lengthier consolidation in the rang is still possible in a couple of days. As long as 81.98 resistance holds, we’d expect downtrend to resume and another fall towards 79.75 (1995 low) is still possible, and a break below 80.55 could signal resumption of downtrend. Key resistance is at 81.98, above this level will indicate that the downtrend from 85.92 (Sep 17 high) has completed at 80.30 already, then the following upward move could bring price back to 83.00-84.00 area.

USDCAD Analysis. USDCAD is facing 0.9979 previous low support, a breakdown below this level could trigger another fall towards 0.9500 area. Resistance remains at the downtrend line from 1.0339 to 1.0154, only a clear break above the trend line resistance could indicate that the fall from 1.0339 is complete.

GBPUSD Analysis. GBPUSD stays in a rising price channel on 4-hour chart and remains in uptrend from 1.5649. Support is at the lower border of the channel, now at 1.6145. As long as the channel support holds, uptrend is expected to continue and next target would be at 1.6500. However, a clear break below this channel support could indicate that lengthier consolidation of uptrend is underway, then pullback to 1.6000 could be seen.

EURUSD Analysis. EURUSD dropped sharply from 1.4281 last Friday, suggesting that the rise from 1.3734 has completed. Another fall to 1.3800-1.3900 area is expected in a couple of days. Key resistance is at 1.4281, only break above this level could trigger another rise towards 1.4500 zone.

USDCHF Analysis. USDCHF’s fall extended to as low as 0.9548 last week. Further decline is still possible later today and target is at 0.9463 previous low. Resistance is at 0.9685, only break above this level could indicate that the fall from 0.9971 is complete.

AUDUSD Analysis. AUDUSD stays in a rising price channel on 4-hour chart and remains in uptrend from 0.9651. As long as the channel support holds, uptrend is expected to continue and next target would be at 1.0400 area. However, a clear break below the channel support could indicate that the rise from 0.9651 has completed, then pullback to 1.0000 area could be seen.

Daily Forex Analysis – November 5, 2010

2010-11-11T01:37:00.001-08:00

USDCAD Analysis. USDCAD continues its downward move from 1.0372 and the fall extended to as low as 1.0009 level. Resistance is at the downtrend line on 4-hour chart, as long as the trend line resistance holds, downtrend is expected to continue and one more fall towards 0.9979 previous low support is still possible, only a clear break above the trend line resistance could indicate that a cycle bottom is being formed.

USDJPY Analysis. USDJPY stays in a trading range between 80.30 and 81.98. The price action in the trading range is more likely consolidation of downtrend from 85.92. Deeper decline to test 80.30 support is expected later today, a breakdown below this level could trigger another fall towards 79.75 (1995 low). Key resistance is at 81.98, only break above this level could indicate that the fall from 85.92 is complete.

GBPUSD Analysis. GBPUSD continues its upward move from 1.5649 and the rise extended to as high as 1.6298 level. Support is at the lower boundary of the rising price channel on 4-hour chart, now at 1.6110, as long as the channel support holds, uptrend is expected to continue and next target would be at 1.6500 area.

EURUSD Analysis. EURUSD’s upward move extended further to as high as 1.4281 level. Support is now at 1.4095, as long as this level holds, uptrend is expected to continue and next target would be at 1.4400-1.4500 area.

USDCHF Analysis. USDCHF drops sharply to as low as 0.9562 level. Deeper decline towards 0.9463 previous low is still possible in a couple of days. Resistance is at 0.9635 followed by 0.9685, as long as these levels hold, downtrend from 0.9971 will continue.

AUDUSD Analysis. AUDUSD has reached the upper border of the rising price channel on 4-hour chart. Minor consolidation of uptrend is expected later today. However, uptrend is expected to resume after touching the lower border of the channel and another rise towards 1.0500 is still possible.

Daily Forex Analysis – November 4, 2010

2010-11-04T03:56:00.001-07:00

USDJPY Analysis. USDJPY moved sideways in a range between 80.30 and 81.98. The price action in the trading range is more likely consolidation of downtrend from 85.92, another fall towards 79.75 (1995 low) is expected. Support is at 80.30, a breakdown below this level could signal resumption of downtrend. Key resistance is at 81.98, only break above this level could indicate that the fall from 85.92 is complete.

GBPUSD Analysis. GBPUSD broke above 1.6105 previous high resistance, suggesting that the longer term uptrend from 1.5296 (Sep 7 low) has resumed. Support is at 1.5961, as long as this level holds, uptrend is expected to continue and next target would be at 1.6300 area.

EURUSD Analysis. EURUSD broke above 1.4152 previous high resistance, suggesting that the uptrend from 1.2587 (Aug 24 low) has resumed. Further rise is still possible later today and next target would be at 1.4300 area. Support is at 1.3990, as long as this level holds, uptrend will continue.

USDCHF Analysis. After breaking below the price channel support, USDCHF continues its downward move from 0.9971 and the fall extended to as low as 0.9692 level. Deeper decline is still possible later today, and next target would be at 0.9550-0.9600 area.

AUDUSD Analysis. AUDUSD broke above 0.9998 previous high resistance, suggesting that the uptrend from 0.8066 (May 25 low) has resumed. Support is at the lower border of the rising price channel on 4-hour chart, as long as the channel support holds, uptrend from 0.9651 is expected to continue and next target would be at 1.0200 area.

USDCAD Analysis. USDCAD may be forming a cycle bottom at 1.0046 level on 4-hour chart. Key resistance is now at 1.0154, a break above this level will confirm the cycle bottom, then further rise to test 1.0372 resistance could be seen.

"Market Manipulation" Is Not Why Most Traders Lose

2010-11-04T03:55:00.002-07:00

By Elliott Wave International

How often have you heard analysts refer to a down day on Wall Street as "traders taking profits"? Sounds great, but the sobering fact is that most traders — in futures, commodities, or forex — lose money.

Any book on trading will list for you the many reasons why most traders lose. Yet some traders do win; some even set records. In 1984, Elliott Wave International’s founder and president Robert Prechter won the U.S. Trading Championship, setting a new all-time profit record of 444.4% in a monitored real-money options account. Later in his monthly Elliott Wave Theorist, Prechter published a Special Report "What A Trader Really Needs To Be Successful" with 5 important insights for would-be market speculators (including the explanation of why "market manipulation" isnot why most traders lose.)

Here’s a quick excerpt — and to read Prechter’s Special Report in full, free, look below.

"What A Trader Really Needs To Be Successful" (excerpt)
By Robert Prechter
Ever since winning the United States Trading Championship in 1984 (see footnotes, p.4), subscribers have asked for a list of "tips" on trading, or even a play-by-play of the approximately 200 short term trades I made while following hourly market data over a four month period. Neither of these would do anyone any good. What successful trading requires is both more and less than most people think.
In watching the reports of each new Championship over the past three years, it has been a joy to see what a large percentage of the top winners have been Elliott Wave Theorist subscribers and telephone consultation customers. (In fact, in the latest "standings" report from the USTC, of the top three producers in each of four categories, half are EWT subscribers!) However, while good traders may want the input from EWT, not all EWT subscribers are good traders. Obviously the winners know something the losers don’t. What is it? What are the guidelines you really need to meet in order to trade the markets successfully?
When I first began trading, I did what many others who start out in the markets do: I developed a list of trading rules. The list was created piecemeal, with each new rule added, usually, following the conclusion of an unsuccessful trade. I continually asked myself, what would I do differently next time to make sure that this mistake would not recur? The resulting list of "do’s" and "don’ts" ultimately comprised about 16 statements. Approximately six months following the completion of my carved-in-stone list of trading rules, I balled up the paper and threw it in the trash.
What was the problem with my list, a list typical of so many novices who think they are learning something? After several months of attempting to apply the "rules," it became clear that I made not merely a mistake here and there in the list, but a fundamental error in compiling the list in the first place. The error was in taking aim at the last trade each time, as if the next trading situation would present a similar problem. By the time 16 rules are created, all situations are covered and the trader is back to square one.
Let me give you an example of the ironies that result from the typical method of generating a list of trading rules. One of the most popular trading maxims is, "You can’t go broke taking a profit." (The brokers invented that one, of course, which is one reason that new traders always hear of it!) This trading maxim appears to make wonderful sense, but only when viewed in the context of a recent trade with a specific outcome. When you have entered a trade at a good price, watched it go your way for a while, then watched it go against you and turn into a loss, the maxim sounds like a pronouncement of divine wisdom. What you are really saying, however, is that in the context of the last trade "I should have sold when I had a small profit."
Now let’s see what happens on the next trade. You enter a trade, and after just a few days of watching it go your way, you sell out, only to stare in amazement as it continues to go in the direction you had expected, racking up paper gains of several hundred percent. You ask a more experienced trader what your error was, and he advises you sagely while peering over his glasses, "Remember this forever: Cut losses short; let profits run." So you reach for your list of trading rules and write this maxim, which means only, of course "I should NOT have sold when I had a small profit."
So trading rules #2 and #14 are in direct conflict. Is this an isolated incident? What about rule #3, which reads, "Stay cool; never let emotions rule your trading," and #8, which reads, "If a trade is obviously going against you, get out of the way before it turns into a disaster." Stripped of their fancy attire, #3 says, "Don’t panic during trading" and #8 says, "Go ahead and panic!" Such formulations are, in the final analysis, utterly useless.
What I finally desired to create was a description not of each of the trees, but of the forest. After several years of trading, I came up with — guess what — another list! But this is not a list of "trading rules"; it’s a list of requirements for successful trading. Most worthwhile truths are simple, and this list contains only five items. …

Read the rest of Prechter’s report now, free! Here’s what you’ll learn:

Why a trading method is a "must" for your success
What part discipline plays in your trading success
Why "market manipulation" is not why most traders lose
How to gain trading experience
More

This article was syndicated by Elliott Wave International and was originally published under the headline "Market Manipulation" Is Not Why Most Traders Lose. EWI is the world’s largest market forecasting firm. Its staff of full-time analysts led by Chartered Market Technician Robert Prechter provides 24-hour-a-day market analysis to institutional and private investors around the world.

This entry was posted on Wednesday, November 3rd, 2010 at 09:32 and is filed under Elliott Wave. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.

One Response to “"Market Manipulation" Is Not Why Most Traders Lose”

jack says:
November 3, 2010 at 16:07
can anybody tell me only one and best strategy to trade forex, i like to trade very short term for 20-50 pips target

Daily Forex Analysis – November 3, 2010

2010-11-04T03:55:00.000-07:00

GBPUSD Analysis. Being contained by 1.6105 previous high resistance, GBPUSD pulled back from 1.6088. However, the fall from 1.6088 is more likely minor consolidation of uptrend from 1.5649, one more rise to re-test 1.6105 key resistance is possible later today, a break above this level will indicate that the longer term uptrend from 1.5296 (Sep 7 low) has resumed, then another rise towards 1.6500 could be seen. Support is at 1.5961, below this level could bring price back to downward move and target would be at 1.5700-1.5800 area.

EURUSD Analysis. EURUSD broke above the triangle pattern. Further rise towards 1.4152 previous high resistance is still possible later today, a break above this level will indicate that the uptrend from 1.2587 (Aug 24 low) has resumed, then another rise towards 1.4500 could be seen. However, as long as 1.4152 key resistance holds, lengthier consolidation in the trading range between 1.3698 and 1.4152 is expected, and one more fall to 1.3750-1.3800 area is still possible.

USDCHF Analysis. USDCHF broke below the lower border of the rising price channel on 4-hour, suggesting that the rise from 0.9463 has completed at 0.9971 already. Deeper decline is now in favor and target would be at 0.9500-0.9600 area.

USDJPY Analysis. No changed in our view, USDJPY remains in downtrend from 85.92. Another fall towards 79.75 (1995 low) is expected later today. Key resistance is at 81.98, only break above this level could indicate that the fall from 85.92 is complete.

AUDUSD Analysis. AUDUSD broke above 0.9998 previous high resistance and reached as high as 1.0022 level, suggesting that the longer term uptrend from 0.8066 (May 25 low) has resumed. Further rise is still possible in next several days, and next target would be at 1.0200 area.

USDCAD Analysis. USDCAD’s fall from 1.0372 extended to as low as 1.0080 level. Deeper decline is still possible later today and next target would be at 1.0000-1.0050 area. However, the fall from 1.0372 is more likely correction of uptrend from 0.9979, rebound would more likely be seen before breaking below 0.9979 key support.

Daily Forex Analysis – November 2, 2010

2010-11-02T02:59:00.000-07:00

EURUSD Analysis. As expected, EURUSD pulled back from the upper border of the triangle pattern on 4-hour chart, suggesting that a cycle top has been formed at 1.4011 level. Deeper decline towards the lower border of the pattern to reach next cycle bottom is possible later today. As long as 1.3698 key support holds, the price action from 1.4152 is treated as consolidation of uptrend from 1.2587 (Aug 24 low) and another rise towards 1.4500 would more likely be seen after consolidation.

USDCHF Analysis. USDCHF continues its upward move from 0.9463 and the rise extended to as high as 0.9971 level. Further rise is still possible in a couple of days and next target would be at 1.0000-1.0050 area. Support remains at the lower border of the channel, only a clear break below the channel support could indicate that the uptrend from 0.9463 is complete.

GBPUSD Analysis. No changed in our view, GBPUSD is facing 1.6105 key resistance, a break above this level will indicate that the longer term uptrend from 1.5296 (Sept 7 low) has resumed, then next long term target would be at 1.6500 area. Support is at 1.5875, only break below this level will suggest that lengthier consolidation of uptrend is underway, then another fall to re-test 1.5649 could be seen.

USDJPY Analysis. USDJPY remains in downtrend from 85.92. Another fall towards 79.75 (1995 low) is expected later today. Key resistance is at 81.98, only break above this level could indicate that the fall from 85.92 is complete.

AUDUSD Analysis. AUDUSD continues its sideways movement in a range between 0.9651 and 0.9998. Further rise to 0.9950 area is expected later today. As long as 0.9998 resistance holds, one more fall to 0.9600 to reach next cycle bottom is still possible.

USDCAD Analysis. USDCAD broke below 1.0153 support and reaches as low as 1.0124 level. Deeper decline to 1.0050-1.0100 area to reach next cycle bottom on 4-hour chart is expected. However, the fall from 1.0372 is more likely correction of uptrend from 0.9979, rebound would more likely be seen before breaking below 0.9979 key support.

Daily Forex Analysis – November 1, 2010

2010-11-02T02:58:00.000-07:00

USDCHF Analysis. USDCHF has formed a cycle top at 0.9928 level on 4-hour chart. Another fall towards the lower border of the channel is still possible later today, a clear break below the channel support will indicate that the upward movement from 0,9463 has completed, then deeper decline could be seen to 0.9600 zone. However, a break above 0.9928 will indicate that the uptrend from 0.9463 has resumed, then another rise to 1.0000 could be seen.

EURUSD Analysis. EURUSD may be forming a triangle pattern on 4-hour chart. Pullback is expected after touching the upper border of the pattern. Support is at 1.3895, a breakdown below this level will indicate that a cycle top is being formed on 4-hour chart, then deeper decline towards the lower border could be seen.

GBPUSD Analysis. GBPUSD is facing 1.6105 key resistance, a break above this level will indicate that the longer term uptrend from 1.5296 (Sept 7 low) has resumed, then next long term target would be at 1.6500 area. Support is at 1.5875, only break below this level will suggest that lengthier consolidation of uptrend is underway, then another fall to re-test 1.5649 could be seen.

USDJPY Analysis. USDJPY continues its downward movement from 85.92 and the fall extended to as low as 80.30 level. Further decline towards 79.75 (1995 low) is still possible in a couple of days. Key resistance is now at 81.98, only break above this level could indicate that the fall from 85.92 is complete.

AUDUSD Analysis. AUDUSD moves sideways in a range between 0.9651 and 0.9998. Further rise to 0.9950 area is expected later today. As long as 0.9998 resistance holds, one more fall to 0.9600 to reach next cycle bottom is still possible.

USDCAD Analysis. USDCAD is in uptrend from 0.9979 and the fall from 1.0372 is more likely correction of uptrend. Deeper decline to 1.0100 area to reach next cycle bottom on 4-hour chart is expected later today.

The Fed and "Plunge Protection Team": Are They Manipulating Stocks?

2010-10-30T03:00:00.001-07:00

Out of thousands of questions recently submitted to us at Elliott Wave International, the most frequent one received is: "Can the Fed manipulate the stock market?" Read our expert’s answer on this and other misleading “investment wisdom.” Read more.

You will find many intriguing Q&As at EWI’s Message Board. We offer it as a free way for our Club EWI members and subscribers to interact with EWI and the Socionomics Institute’s experts. We strive to answer every Message Board reader, and publicly post the best Q&As.
By far, the most frequent question we’ve been asked recently is:

"What is your take on the persistent internet chatter that the Federal Reserve is holding up the stock market via QE2, POMO, etc.? How can stocks ever decline again if the Fed is in control?"

We have several active Message Board posts that touch on "market manipulation." But here is an eye-opening chart that will help shed more light on this issue.

EWI President Robert Prechter published this chart in his October 2008Elliott Wave Theorist. Review this chart carefully. For too many investors, the crash of 2007-2009 is becoming a hazy memory. And almost no one in the mainstream financial media talks about the utter panic in the markets in September-October 2008, the worst part of the crash.

If you think back to that time, you may remember that the Federal Reserve and U.S. government took many aggressive steps to help stop the collapse. Every time they would announce a new intervention, the market would cheer. Result? Prechter’s chart gives an unequivocal answer:

[+] CLICK TO ENLARGE

As you can see, announcements of bailouts, unlimited credit, bans on short sales, etc., were powerless against the biggest stock market collapse in 76 years. The DJIA kept sliding. It didn’t stop until March 6, 2009 — after it had slipped below 6,500.

So: Is the Fed and the "Plunge Protection Team" engaged in market manipulation? You can browse EWI’s Message Board for some answers, but one thing is clear: When stocks were crashing two years ago, few dared to suggest that the Fed was in the saddle. Bob Prechter puts it best:

"When markets go up, the Fed seems to be in control; when they go down, it seems out of control. But the control aspect is an illusion."

Get the 33-page Market Myths Exposed eBook for FREE Learn why you should think independently rather than relying on misleading investment commentary and advice that passes as common wisdom. Just like the myth that government intervention can stop a stock market crash, Market Myths Exposed uncovers other important myths about diversifying your portfolio, the safety of your bank deposits, earnings reports, inflation and deflation, and more! Protect your financial future and change the way you view your investments forever! Learn more, and get your free eBook here.

This article was syndicated by Elliott Wave International and was originally published under the headline The Fed and "Plunge Protection Team": Are They Manipulating Stocks?. EWI is the world’s largest market forecasting firm. Its staff of full-time analysts led by Chartered Market Technician Robert Prechter provides 24-hour-a-day market analysis to institutional and private investors around the world.

This entry was posted on Saturday, October 30th, 2010 at 09:13 and is filed under Elliott Wave. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.

Daily Forex Analysis – October 28, 2010

2010-10-29T00:06:00.001-07:00

GBPUSD Analysis.GBPUSD may be forming a cycle top at 1.5895 level on 4-hour chart. Another fall to re-test 1.5649 key support is expected later today, a break below this level will confirm the cycle top, then deeper decline could be seen to 1.5500-1.5550 area. Only break above 1.5649 level could suggest that lengthier correction of downtrend from 1.6105 is underway.

USDJPY Analysis.USDJPY broke above 81.91 key resistance, suggesting that a cycle bottom had been formed at 80.41 level on 4-hour chart and the downward movement from 85.92 had completed. Further rally would more likely be seen in a couple of days and next target would be at 82.50 area.

EURUSD Analysis.EURUSD is facing 1.3698 support, a break below this level will confirm that the uptrend from 1.2587 (Aug 24 low) has completed at 1.4152 already, then the following downward move could bring price to 1.3400 area. However, the pair may be forming a sideways consolidation in a range between 1.3698 and 1.4152, bounce to 1.3950 area is possible before breaking below 1.3698 key support.

AUDUSD Analysis.

Being contained by 0.9998 previous high resistance, AUDUSD dropped from 0.9973 and reached as low as 0.9651 level, and the key support of 0.9661 had been broken below. Deeper decline is expected later today and next target would be at 0.9450-0.9500 area.

USDCHF Analysis.USDCHF has reached the upper border of the price channel on 4-hour chart, pullback would more likely be seen later today and target would be at the lower border of the channel. Support is at 0.9830, below this level could indicate that a cycle top is being formed and downward move is expected to follow.

USDCAD Analysis.USDCAD’s bounce from 1.0153 extended to as high as 1.0339 level. However, another fall to 1.0100 area to reach next cycle bottom is still possible. Key resistance is at 1.0372, only a break above this level could trigger another rise towards 1.0600 zone.

Daily Forex Analysis – October 29, 2010

2010-10-29T00:06:00.000-07:00

URUSD Analysis. Being contained by 1.3698 support, EURUSD rebounded from 1.3734, suggesting that sideways movement in a range between 1.3698 and 1.4152 is underway. Lengthier consolidation in the trading range is expected in a couple of days, and further rise to 1.4000 area to reach next cycle top would more likely be seen later today.

GBPUSD Analysis. GBPUSD’s bounce from 1.5649 extended to as high as 1.5977 level. As long as 1.6105 previous high resistance holds, the rise from 1.5649 is treated as correction of downtrend from 1.6105, and another fall to 1.5400 is still possible. However, a break above 1.6105 will indicate that the uptrend from 1.5296 has resumed, then anther rise towards 1.7000 could be seen.

USDJPY Analysis. After touching 81.91 resistance, USDJPY dropped from 81.98, suggesting another fall to test 80.41 is underway, a break below this level will indicate that the downtrend from 85.92 has resumed, then another fall towards 79.75 (1995 low) could be seen. On the upside, as long as 80.41 support holds, one more rise 83.00-84.00 area is still possible.

AUDUSD Analysis. After touching 0.9661 support, AUDUSD rebounded from 0.9651 level. However, another fall towards 0.9400 is still in favor and a breakdown below 0.9651 could signal resumption of downtrend. Key resistance is at 0.9998, only break above this level could trigger another rise to 1.0200 zone.

USDCHF Analysis. Being contained by the upper border of the price channel on 4-hour chart, USDCHF pulled back from 0.9928, suggesting that a cycle top is being formed. Deeper decline is still possible later today and target would be at the lower border of the channel.

USDCAD Analysis. USDCAD traded in a range between 1.0153 and 1.0372. Deeper decline to 1.0100 area to reach next cycle bottom is expected in a couple of days. Key resistance is at 1.0372, only a break above this level could trigger another rise towards 1.0600 zone.

Daily Forex Analysis – October 27, 2010

2010-10-27T03:38:00.000-07:00

USDJPY Analysis.

USDJPY broke above the falling price channel on 4-hour chart and reaches as high as 81.70. Key resistance is at 81.91, as long as this level holds, the price action in the trading range between 80.41 and 81.91 is treated as consolidation of downtrend from 85.92, and one more fall to 80.00 is still possible. However, a break above 81.91 key resistance will indicate that the downtrend from 95.92 has completed at 80.41 already, then the following upward move could bring price to 83.00-84.00 area.

EURUSD Analysis. EURUSD breaks below 1.3860 support, suggesting lengthier consolidation in the trading range between 1.3698 and 1.4152 is underway. Deeper decline towards 1.3698 is expected later today, rebound would more likely be seen before breaking below this level. However a breakdown below 1.3698 level will indicate that the uptrend from 1.2587 (Aug 24 low) has completed at 1.4152 already, then the following downward move could bring price to 1.3400 area.

AUDUSD Analysis.

AUDUSD failed to break above 0.9998 previous high resistance and pulled back from 0.9973, suggesting another fall towards 0.9661 key support is underway, a break below this level will indicate that the rise from 0.8771 has completed at 0.9998 already, then the following downward move could bring price back to 0.9300 area.

USDCHF Analysis.

USDCHF’s bounce from 0.9463 extends to as high as 0.9881 level. Further rally is still possible later today and next target would be at 1.0000 area. Initial support is at the rising trend line on 4-hour chart and the key support is at 0.9662, only break below this level could trigger another fall to 0.9200 zone.

USDCAD Analysis.

USDCAD might be forming a cycle bottom at 1.0153 level on 4-hour chart. Further rise towards 1.0372 is expected later today, a break above this level could confirm that a cycle bottom has been formed and another rise towards 1.0600 is underway.

GBPUSD Analysis.

GBPUSD broke above 1.5877 resistance, further rise to 1.5950-1.6000 area to reach next cycle top on 4-hour chart could be seen. As long as 1.6105 resistance holds, we’d expected downtrend to resume and one more fall towards 1.5400 is still possible.

Daily Forex Analysis – October 26, 2010

2010-10-26T01:54:00.000-07:00

EURUSD Analysis. EURUSD traded in a range between 1.3698 and 1.4152. Initial support is at 1.3860, as long as this level holds, another rise towards 1.4152 key resistance is expected later today, a break above this level could indicate that the uptrend from 1.2587 (Aug 24 low) has resumed, then further rise 1.4500 is possible. However, below 1.3860 will suggesting lengthier consolidation in the trading range is underway, then deeper decline towards 1.3698 could be seen.

AUDUSD Analysis. Being contained by 0.9998 previous high resistance, AUDUSD pulled back from 0.9973, however another rise towards 0.9998 would more likely be seen later today, a break above this level could indicate that the upward movement from 0.8771 has resumed, then another rise towards 1.0100-1.0200 could be seen. Key support is at 0.9740, only break below this level could trigger another fall to 0.9400 area.

USDCHF Analysis. USDCHF might be forming a cycle top at 0.9804 level on 4-hour chart, key support is at 0.9572, a breakdown below this level will confirm the cycle top, then another fall to 0.9200 could be seen. On the upside, as long as 0.9572 level holds, one more rise to 0.9850-0.9900 area to reach next cycle top is still possible.

USDCAD Analysis.

USDCAD’s downward move from 1.0372 extended to as low as 1.0153 level. Deeper decline is still possible later today, and next target would be at 1.0100-1.0130 area. However, as long as 0.9979 key support holds, the fall from 1.0372 is treated as correction of uptrend from 0.9979, another rise towards 1.0600 is still possible after correction.

GBPUSD Analysis.

GBPUSD stays in a trading range between 1.5649 and 1.5877. Key resistance is at 1.5877, as long as this level holds, the price action in the range is treated as consolidation of downtrend from 1.6105 and another fall towards 1.5400 is still in favor. However, a break above 1.5877 could indicate that the fall from 1.6105 has completed at 1.5649 already, and the uptrend from 1.5296 has resumed.

USDJPY Analysis.

After a sideways consolidation, USDJPY continues its downward move from 85.92, and the fall extended to as low as 80.41 level. Deeper decline is still possible later today and next target would be at 80.00 area.

Daily Forex Analysis – October 25, 2010

2010-10-25T06:34:00.000-07:00

EURUSD Analysis.

EURUSD stays in a trading range between 1.3698 and 1.4152. Another rise to test 1.4152 key resistance is still possible later today, a break above this level will indicate that the uptrend from 1.2587 has resumed, then further rise towards 1.4500 could be seen. Support is at 1.3860, below this level could bring price back towards 1.3698 key support.

AUDUSD Analysis.

AUDUSD stays in a trading range between 0.9661 and 0.9998. Key resistance of 0.9998 is expected to be tested later today, a break above this level could indicate that the uptrend from 0.8771 has resumed, then another rise towards 1.0100-1.0200 could be seen to follow. Support is at 0.9740, a breakdown below this level could trigger another fall to 0.9400 area.

USDCHF Analysis.

USDCHF’s bounce from 0.9463 extended to as high as 0.9804 level. Further rally is still possible later today and next target would be at 0.9850-0.9900 area. Support is at 0.9690 followed by 0.9570, only break below 0.9570 could trigger another fall to 0.9200 area.

USDCAD Analysis.

USDCAD formed a cycle top at 1.0372 level on 4-hour chart. Another fall to 1.0130 area is expected in a couple of days. However, the fall from 1.0372 is treated as correction of uptrend from 0.9979, the uptrend could be expected to resume before breaking below 0.9979 level.

GBPUSD Analysis.

GBPUSD is in downtrend from 1.6105. Another fall towards 1.5400 would more likely be seen in next several days. Key resistance is now at 1.5877, only break above this level could indicate that the downward move from 1.6105 has completed at 1.5649 already, and the uptrend from 1.5296 has resumed.

USDJPY Analysis.

No changed in our view, USDJPY stays in a narrow trading range between 80.84 and 81.91. The price action in the range is treated as consolidation of downtrend from 85.92. Another fall towards 79.75 (1995 low) would more likely be seen later today.

Daily Forex Analysis – October 19, 2010

2010-10-23T06:16:00.000-07:00

USDCHF Analysis.

USDCHF has reached the upper border of the price channel on 4-hour chart, suggesting that a cycle bottom has been formed at 0.9463 level. Further rally towards 0.9727 is still possible later today, a break above this level will indicate that the fall from 1.0277 has completed at 0.9463 already, then the following upward move could bring price to 1.0000 zone. However, as long as 0.9727 key resistance holds, downtrend is expected to resume, and another fall to 0.9300 is expected.

USDCAD Analysis.

USDCAD failed to break above 1.0232 key resistance and pulled back from 1.0227, however one more rise to re-test 1.0232 is still possible later today, a break above this level will indicate that the downward movement from 1.0672 (Aug 31 high) has completed at 0.9979 already, then the following uptrend could bring price to 1.0600 area. Support is at 1.1000, below this level will indicate that sideways movement is underway, then range trading between 0.9979 and 1.0232 could be seen.

GBPUSD Analysis.

GBPUSD is facing the lower border of the price channel on 4-hour chart. Rebound would more likely be seen before breaking below the channel support. Key support is at 1.5755, as long as this level holds, the fall from 1.6105 is treated as consolidation of uptrend from 1.5296, and another rise to 1.6200 is still possible. However, below 1.5755 will indicate that the rise from 1.5296 has completed at 1.6105 already, then deeper decline could be seen to 1.5400 area.

EURUSD Analysis.

EURUSD remains in uptrend from 1.2587, and the price action from 1.4029 is treated as consolidation of uptrend. As long as 1.3775 key support holds, we’d expect uptrend to resume and another rise to 1.4200-1.4300 area is still possible after consolidation. However, a breakdown below 1.3775 could indicate that the rise from 1.2587 has completed at 1.4152 already, then pullback to 1.3500 area could be seen to follow.

AUDUSD Analysis.

Being supported by the lower boundary of the price channel on 4-hour chart, AUDUSD rebounded from 0.9800, suggesting that a cycle bottom is being formed. Range trading between 0.9800 and 0.9998 would more likely be seen in a couple of days. Resistance is at 0.9998, above this level will indicate that the uptrend from 0.8771 has resumed, then further rise to 1.0100-1.0200 area could be seen.

USDJPY Analysis.

USDJPY stays in a falling price channel on 4-hour chart and remains in downtrend from 85.92. The bounce from 80.88 is treated as consolidation of downtrend, further rally towards the upper border

of the channel would more likely be seen.

Daily Forex Analysis – October 21, 2010

2010-10-23T06:14:00.000-07:00

AUDUSD Analysis.

AUDUSD broke below the lower border of the rising price channel on 4-hour chart and reached as low as 0.9661 level, suggesting that the uptrend from 0.8771 has completed at 0.9998 already. Another fall to 0.9500 area is expected in next several days. Resistance is now at 0.9998, only break above this level could trigger another rise to 1.0100-1.0200 area.

USDCHF Analysis.

USDCHF broke above 0.9727 resistance, suggesting that lengthier consolidation of downtrend from 1.1730 is underway. Another rise to 0.9800-0.9900 area is expected. Support is at 0.9463, only break below this level could trigger another fall to 0.9300 zone.

USDCAD Analysis.

USDCAD broke above 1.0232 key resistance and reached as high as 1.0372, suggesting that the downward move from 1.0672 (Aug 31 high) has completed at 0.9979 already. Now the pair is in uptrend and the fall from 1.0372 is treated as correction of uptrend. Pullback to 1.0130-1.0175 to complete the correction would more likely be seen.

GBPUSD Analysis.

GBPUSD broke below 1.5755 key support and reached as low as 1.5649, suggesting that the uptrend from 1.5296 has completed at 1.6105 already. Now the pair is in downtrend and the bounce from 1.5649 is treated as correction of downtrend. Deeper decline to 1.5400 area is expected after correction.

EURUSD Analysis.

EURUSD broke below 1.3775 key support, suggesting that lengthier consolidation of uptrend is underway. Range trading between 1.3700 and 1.4000 would more likely be seen in a couple of days.

USDJPY Analysis.

USDJPY’s fall from 85.92 extended to as low as 80.84. Resistance is now at 81.91, as long as this level holds, downtrend is expected to continue and another fall towards 79.75 (1995 low) is expected.

Daily Forex Analysis – October 22, 2010

2010-10-23T05:33:00.000-07:00

AUDUSD Analysis. AUDUSD’s uptrend from 0.8771 has completed at 0.9998 already. Range trading between 0.9661 and 0.9890 would more likely be seen later today. Support is at 0.9661, a breakdown below this level could trigger another fall to 0.9500 area. Key resistance is at 0.9998, only break above this level could indicate that the uptrend from 0.8771 has resumed, then further rise to 1.0100-1.0200 could be seen.

USDCHF Analysis.

USDCHF’s downward move from 1.0277 has completed at 0.9463 already. Further rally is still possible later today and next target would be at 0.9800-0.9900 area. Support is now at 0.9570, only break below this level could trigger another fall to 0.9300 zone.

USDCAD Analysis.

Being contained by 1.0378 resistance, USDCAD pulled back from 1.0372, suggesting that a cycle top has been formed on 4-hour chart. Now the fall from 1.0372 is treated as correction of uptrend from 0.9979. Range trading between 1.0130 and 1.0372 is expected in next several days.

GBPUSD Analysis.

GBPUSD broke below the rising price channel on 4-hour chart and the uptrend uptrend from 1.5296 has completed at 1.6105 already. The pair is now in downtrend from 1.6105. Deeper decline to 1.5400 is expected. Resistance is at 1.5880, as long as this level holds, downtrend will continue.

EURUSD Analysis.

After breaking below 1.3775 key support, the price action from 1.4152 is treated as consolidation of longer term uptrend from 1.1876 (Jun 7 low). Range trading between 1.3698 and 1.4050 is expected in a couple of days. Key resistance is at 1.4152, only break above this level could trigger

another rise towards 1.4500.

USDJPY Analysis.

USDJPY stays in a narrow trading range between 80.84 and 81.91. The price action in the range is treated as consolidation of downtrend from 85.92. Another fall towards 79.75 (1995 low) would more likely be seen later today.

OANDA Trading Platform sucks!!

2010-10-21T10:29:00.000-07:00

I joined the broker almost a year now, in the early days it was fine and everything run smoothly on the trading platform. But ever since they upgraded it to the new JAVA, problem started to come. In the first place i didn't mind about it cause i thought it was temporary technical issues.

Now i starting to get sick and tired of the problem because it seems OANDA does not give a damn about it. Nothing has improved and the platform keep on slows down and disconnected till now. So i have decided to withdraw my deposit and looking for other brokers now.

If OANDA ever improve again someday perhaps i am considering to rejoin them, but for now it's just really bad. Two weeks i have not open any trade position because the platform it like freeze off whenever i log into it then disconnected again. It happens every log in sessions.

OANDA need to clean up the mess on its trading platform. Not only me complaining about this issue, just read what others say about it on OANDA forum itself OANDA usability sucks

Best Forex System Trading-Go For The Best And Make More Profit

2010-08-04T10:50:00.001-07:00

Forex is basically used as abbreviation for foreign exchange stock market. Forex is the trade of selling and buying of currencies. It is said to be the easiest way to do business even if you are sitting at your home. You can make maximum profit with this business. For getting into this, you need to have good understanding of business, investments, effects of exchange rates and trade.

There are two types of forex system trading, offline forex trading and online forex trading. The best forex system trading comes under online forex system trading. Offline forex system trading is very hectic and time consuming as it requires you to go to the companies to do trading, check trade status and then collecting profits.

Best forex system trading means an effective currency trade in which you earn more profit in less time and efforts. To get success in forex trading, an effective system is needed. It is that trading system which gives you updates about all the changes in the market. Find such a trading system which suits your strategy and style, only then you can make good profit.

There are many trading systems used in trade but the most popular forex system trading is the automated system trading. It is a trade in which you buy a forex system trading software and then you deal and fill it according to your demands and requirements. The system will then tells you the perfect time to buy or sell the currency to gain maximum profit.

There is another method in which you check out and note the statistics and strategies of last few months' forex trade and then calculate the graph of profits verifications using a calculator.

No doubt best forex system trading is the online system trading because it is available with many different features. You can invest your money and trade in your way. You do not need to go to the companies to buy or sell currencies. Everything is done on computer and you just need to input your needs and terms.

Auto Forex System Trading-Relax As Well As Earn

2010-08-04T10:50:00.000-07:00

Auto Forex trading has been adopted by many as the easiest and efficient ways of making money in trading business. This helps a lot in currency trading. As more and more people are getting into this business, there have been more ways found out to make it easy for them. Auto forex trading is one of the ways to make forex trading easy for you. In this type of trading, you make use of software. This software works on the basis of making prediction about rise and fall of the currency. In auto forex system trading, the software makes decisions which ensure that you make a lot of profit.

The software that chooses works just like your personal assistant. It does not require you to sit at the desk for all day. It works for you through 24 hours and as soon as profitable opportunity arrives, it grabs it with both hands. Hence there is never a trading opportunity that you miss. Also make sure that the package that you choose is tested in all markets and environments so that it can work best for you. Most of the people which are new in this trade can do auto forex trading and can learn a lot from it.

All you need to do is to search the best software for you by carrying out extensive search. Then just follow the instructions and install it on your PC. You just need to configure it and there you go. It is now ready to do the wonders for you. If you are new in using this, start with investing a small amount of money so that you can learn as the time passes by. When you feel that you are a master, you can then make your goals and aims and start doing auto forex system trading to change your life.

Forex Automoney - Review & Analysis

2010-08-04T10:49:00.002-07:00

Introduction to the Forex Market FOREX (FOReign EXchange market) is an international foreign exchange market, where money is sold and bought freely. In its present condition FOREX was launched in the 1970s, when free exchange rates were introduced, and only the participants of the market determine the price of one currency against the other proceeding from supply and demand. As far as the freedom from any external control and free competition are concerned, FOREX is a perfect market. It is also the biggest liquid financial market. According to various assessments, money masses in the market constitute from 1 to 2 trillion US dollars a day. (It is impossible to determine an absolutely exact number because trading is not centralized on an exchange.) Transactions are conducted all over the world via telecommunications 24 hours a day from 00:00 GMT on Monday to 10:00 pm GMT on Friday. Practically in every time zone (that is, in Frankfurt-on-Main, London, New York, Tokyo, Hong Kong, etc.) there are dealers who will quote currencies. Forex Auto Money Review What is Forex AutoMoney? What is Required to do This? Forex AutoMoney is an automated Forex trading signal service. It completely takes the guesswork out of trading in the Forex markets. There is no technical analysis required on your part to use this service. All you have to do is login to get your buy or sell signal. 1. The first thing you need to trade Forex is a computer (PC or MAC) with an Internet connection. It can even be a computer in an Internet cafe or library - it doesn\'t matter. 2. The second thing is money of course. You must sell or buy other currencies using your money. You can start trading with just ONE DOLLAR! However, you will probably want to start with at least $500. Preferably $2000 if you have the money. You can still start trading with less money than this, but, you will not make very much money. 3. The third, and the last thing that is required is the knowledge of when to buy or sell. There are thousands of manuals about Forex, technical analysis, thousands of methods that tell you how you should trade. But they all make trading very complicated and - let\'s be honest - those systems and manuals give you NOTHING and they just do not work most of the time. What is REALLY SIMPLE are so-called ready to use signals: \"buy now\" or \"sell now\". That\'s what\'s best and that\'s what Forex AutoMoeny does. You don\'t have to think anymore - just buy or sell when the signals tell you to. So let\'s sum it up: * you need access to the Internet (obviously you have it already) * a little money (even ONE DOLLAR to start off, although not recommended) * and the Forex AutoMoney membership. That\'s all you need to make money 100% automatically with Forex AutoMoney. And you can start making money right now. Additionally, it takes only a few minutes per day to do the work. All you have to do is log in, read the signal and click to trade. That\'s all. Sounds too easy right? Well, to some extent..it is. How Does It Work? Forex AutoMoney is a monthly membership based Forex trading signal service that uses an innovative intelligent software which automatically analyzes currencies markets and determines when to buy or sell. It can generate buy and sell signals in 3 time frames: 1. intraday - 6 times a day a buy or sell message is generated 2. daily - signals are generated once a day 3. weekly - using these signals you can trade once a week if that\'s all the time you want to invest Of course you can use all 3 systems - you can trade intraday and daily and weekly! This maximizes your profits. You can divide your money up and trade all three time frames if you choose to do so. Of course signals are generated for all major currency pairs, and using all of them can maximizes your profits. Here is an example based on an actual signal generated from the Forex AutoMoney trading system: Currency Pair: EUR/USD Type of Trade: BUY Time to Enter: 10:00 PM EST Get Profit: 120 Pips Stop Loss: 50 Pips In this trade, a 120 pips profit was recorded. This equals to over $1000 trading 1 standard lot or $100 trading 1 mini lot. It only took a couple minutes to enter the trade. Why Use a Service Like Forex AutoMoney? Forex is an extremely volatile market and it can take a long time to learn how to trade successfully without the right tools. Also, during this learning process it is possible to lose a LOT of money. Technical analysis can be quite complicated and is NOT for everyone. Also, there is a huge emotional factor that can affect your trading. It is very unwise to rely on your \"intuition,\" or \"gut feeling,\" when trading the Forex markets. That is gambling. Professional traders that make money day in and day out in the Forex markets rely on systems that are mechanical and remove any chance of having to rely on \"feelings,\" or \"gut instinct.\" Forex AutoMoney, helps to make your trading a mechanical process. It removes the guesswork. Forex Auto Money Pros & Cons Pros of Forex AutoMoney: 1. Very simple to use. 2. Signals are generated by complex mathematical calculations and algorithms making them more accurate 3. Lots of profits have been generated by many people using these signals 4. Saves you the time and hassle of having to monitor the markets 5. Money Back Guarantee 6. 3 day demo trial for $4.95 Cons: 1. You still have to place your trades yourself. The system does not place the trades for you. 2. The manual on using the trading service could be more detailed. (If you try the service through this site, leave your email address under the comments section and we will send you a brief manual that fills in the gaps. Don\'t worry, your email will not be posted publicly.) If one would like to find out more about this particular service, their site can be visited at: http://www.fxauto.pcti-system.com