Archive for April, 2008
GOLD AND EUR/USD OUTLOOK
GOLD AND EURO HAVE MOVED IN SYNK. FAILURE OF GOLD SUPPORT AT $860 WOULD
SIGNAL DOLLAR STRENGHT AGAINST THE EURO AND OTHER CURRENCIES.
SPOT GOLD PENETRATED SUPPORT AT $900 AND $860 AND IS HEDET FOR A TEST OF PRIMARY SUPPORT AT $770.
RECOVERY ABOVE THE RECENT HIGH AT $950 WOULD COMPLATE A DOUBLE BOTTOM,
REVERSAL WITH A TARGET OF $1020.
THE EURO CAUGHT MANY BULLS OFF-GUARD, WITH A SECOND FAILD BREAK ABOVE $1.59 FOLLOW BY REVERSAL
TO TEST SUPPORT AT $1.55. FAILURE OF SUPPORT WOULD SIGNAL AT TEST OF $1.50.
REVERSAL ABOVE $1.60, WHIILE OFFER A TARGET OF $1.65.
FOREX TRADE ALERT FOR EURO.
4xGenie Action: ==> Remain out of this market, for now! Today’s candlestick has broken out of the yellow shaded area of the chart and below the lower pivot band. This is very bearish! A divergence in the MACD indicator has been found.
MONTHLY PIVOT ALERT: Support level of 1.5604 was broken today. When the monthly pivot point is broken – we can look for a possible drop to the monthly S1 ( support level 1).
Next Day Trading Ranges for Tuesday Apr 29, 2008
The 20 day moving average of the daily trading range is 169 pips and the 60 day moving average of the daily trading range is 151 pips. This shows that volatility has increased in the short term. The percentage of updays when the open/low ratio is less than 25% is 89.74 percent. This means that if this par does not drop more than 42 from the opening price then there is a 89.74 percent chance that this will be an upday.
The [R3] or the most extreme high trading range is 1.5761.
The [R2] or the extreme high trading range is 1.5711.
The [R1] or the high trading range is 1.5641.
The [P] or pivot point is 1.5591.
The [S1] or the low trading range is 1.5521.
The [S2] or the extreme low trading range is 1.5471.
The [S3] or the most extreme low trading range is 1.5401.
Next Day Alternate Stops for Tuesday Apr 29, 2008
4xGenie is not currently in a trade.
Current Day Trading Session:
No signs of upward momentum at this time.
Next Day Trading Session:
If the next day’s close is above 1.5990 then that could be a sign that new upward momentum is beginning.
4XGENIE
Forex Trade Alert for – Symbol USD/JPY.
Forex Trade Alert for Tuesday Apr 29, 2008.
On Apr-28-2008 a candlestick formation confirmed a sell signal. 4xGenie Action: ==> Sell this par at 103.98. Stop at 105.17. Wave 5 could drop down to 100.87 or to 97.88. Today’s candlestick appears in the yellow shaded area of the chart. This reflects strong consolidation here! The CCI is above 100. This par is overbought at this time.
Next Day Trading Ranges for Apr 29, 2008.
The 20 day moving average of the daily trading range is 133 pips and the 60 day moving average of the daily trading range is 139 pips. This shows that volatility has decreased in the short term. The percentage of downdays when the open/high ratio is less than 25% is 71.53 percent. This means that if this par does not rise more than 33 from the opening price then there is a 71.53 percent chance that this will be an downday.
The [R3] or the most extreme high trading range is 105.41.
The [R2] or the extreme high trading range is 105.11.
The [R1] or the high trading range is 104.66.
The [P] or pivot point is 104.36.
The [S1] or the low trading range is 103.91.
The [S2] or the extreme low trading range is 103.61.
The [S3] or the most extreme low trading range is 103.16.
Next Day Forex Trade Alert, Alternate Stops for Apr 29, 2008.
A good alternative stop is one which is placed just beyond this extreme support/resistance level.
In this particular case if the price rises above 105.17 then that would show momentum against 4xGenie’s short position and that would be a break out to the upside.
Please Note: These support/resistance levels are calculated by using the previous day’s trading range. Normal volatility may cause a breakout of this value once every 4 or 5 days when prices consolidate.
Current Day Trading Session:
No signs of downward momentum at this time.
Next Day Trading Session:
If the next day’s close is below 102.80 then that could be a sign that new downward momentum is beginning.
4xgenie
Trade Alert for – Symbol EUR/AUD.
Trade Alert for WEDNESDAY Apr 23, 2008.
A buy signal was confirmed when this par closed above 1.6971 on Apr-23-2008. 4xGenie’s Action: ==> Buy this par at 1.6971. Stop at 1.6788. Wave C could rise up to 1.7436.4xgenie
Trade Alert for – Symbol GBP/JPY.
Trade Alert for Monday Apr 21, 2008.
A candlestick formation confirmed a sell signal. 4XGENIE Action: Sell this PAR at 203.60. Stop at 209.02. Wave 5 could drop down to 198.11 or to 192.60. NOTE: A consolidation of price movement or a price correction may be underway. The CCI is above 100. This par is overbought at this time.
Next Day Trading Ranges for Monday Apr 21, 2008.
The 20 day moving average of the daily trading range is 313 PIPS and the 60 day moving average of the daily trading range is 303 PIPS. This shows that volatility has increased in the short term. The percentage of downdays when the open/high ratio is less than 25% is 73.19 percent. This means that if this PAR does not rise more than 78 PIPS from the opening price then there is a 73.19 percent chance that this will be an downday.
The [R3] or the most extreme high trading range is 211.16.
The [R2] or the extreme high trading range is 209.64.
The [R1] or the high trading range is 207.01.
The [P] or pivot point is 205.49.
The [S1] or the low trading range is 202.86.
The [S2] or the extreme low trading range is 201.34.
The [S3] or the most extreme low trading range is 198.71.
In this particular case if the price rises above 209.02 then that would show momentum against 4XGENIE‘S short position and that would be a break out to the upside.
Current Day Trading Session:
No signs of downward momentum at this time.
Next Day Trading Session:
If the next day’s close is below 203.60 then that could be a sign that new downward momentum is beginning.
REMEMBER: NEWS OVERRIDES TECHNICAL ANALYSES !!!!!!!!
http://www.4xgenie.com/News_Charts.html
4XGENIE
Trade Alert for Thursday Apr 17, 2008.
The market has dropped out of the current trading channel. The market closed below the bottom fibonacci fan line. Prices could really fall out now. The CCI is above 100. This par is overbought at this time.
Next Day Trading Ranges
The 20 day moving average of the daily trading range is 91 and the 60 day moving average of the daily trading range is 112. This shows that volatility has decreased in the short term. The percentage of updays when the open/low ratio is less than 25% is 57.89 percent. This means that if this par does not drop more than 23 from the opening price then there is a 57.89 percent chance that this will be an upday.
The [R3] or the most extreme high trading range is 0.9449.
The [R2] or the extreme high trading range is 0.9423.
The [R1] or the high trading range is 0.9390.
The [P] or pivot point is 0.9364.
The [S1] or the low trading range is 0.9331.
The [S2] or the extreme low trading range is 0.9305.
The [S3] or the most extreme low trading range is 0.9272.
Current Day Trading Session:
Momentum is continuing upward at the present time.
Next Day Trading Session:
If the next day’s close is below 0.9336 then that could be a sign that the current upward momentum is reversing.
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