FOREX OUTLOOK for EUR/USD, AUD/USD, GOLD, CRUDE OIL and US DOLLAR INDEX.

Gold

Gold retreated below short-term support at $1120 after breaking the rising trendline on the price chart and on Momentum Oscillator (5-day). Expect a test of primary support at $1080. Reversal above $1140 is unlikely, but would signal an advance to $1220.

Crude Oil

Crude retreated below the rising (green) trendline, signaling trend weakness. Also, the long-term Momentum Oscillator (13-week) displays a large bearish divergence, warning of a reversal. Failure of primary support at $72 would confirm.

Euro – EUR/USD

The primary cause of dollar strength is the euro, which broke through support at $1.42 — signaling the start of a primary down-trend. The Momentum strengthens the reversal signal. The initial target for the decline is $1.38.

Current Day Trading Session:

Momentum is continuing downward at the present time.

Next Day Trading Session:

If the next day’s close is above 1.4449 then that could be a sign that the current downward momentum is reversing.

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FOREX OUTLOOK for EUR/USD, AUD/USD, GOLD, CRUDE OIL and US DOLLAR INDEX

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Forex Trade Alert for – Symbol = AUD/NZD

Trade Alert for Tuesday Jan 17, 2010.

On Jan-17-2010 a candlestick formation confirmed a sell signal. 4xGenie Action: ==> SELL @ 1.2506 Stop at 1.2625. Wave 3 could drop down to 1.2195 or to 1.2076. Today’s candlestick appears in the yellow shaded area of the chart. This reflects strong consolidation here!

Next Day Trading Ranges for Tuesday Jan 17, 2010.

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Forex Trade Alert AUD/NZD | SELL SIGNAL

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Forex Trade Alert for Tuesday Jan 12, 2010.

GBP/JPY

On Jan-12-2010 a candlestick formation confirmed a sell signal. A sell signal was also confirmed when this currency pair closed below 147.33 on Jan-05-2010. 4xGenie Action: ==> SELL @ 147.30. Stop at 151.20. Wave 5 could drop down to 143.30 or to 136.86. Today’s candlestick appears in the yellow shaded area of the chart. This reflects strong consolidation here!

Next Day Trading Ranges for Tuesday Jan 12, 2010

The 20 day moving average of the daily trading range is 171 Pips and the 60 day moving average of the daily trading range is 212 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 52.52 percent. This means that if this currency pair does not rise more than 42 Pips from the opening price then there is a 52.52 percent chance that this will be an downday.

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Forex Trade Alert for GBP/JPY | Sell Signal

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Forex Trade Alert USD/CHF

Trade Alert for Dec 31, 2009.

On Dec-29-2009 a candlestick formation confirmed a buy signal. 4xGenie Action: ==> Buy @ 1.0236. Stop at 1.0085. Wave 3 could rise up to 1.0500 or to 1.0700. The support level of 1.0329 was broken when prices closed below the bottom pitchfork line. The market has dropped out of the current trading channel. NOTE: A consolidation of price movement or a price correction may be underway.

Next Day Trading Ranges for Thursday Dec 31, 2009

The 20 day moving average of the daily trading range is 97 Pips, and the 60 day moving average of the daily trading range is 100 Pips. This shows that volatility has decreased in the short term. The percentage of updays when the open/low ratio is less than 25% is 49.30 percent. This means that if this Currency Pair does not drop more than 24 Pips from the opening price ( 5pm EST) then there is a 49.30 percent chance that this will be an upday.

The [R3] or the most extreme high trading range is 1.0432.

The [R2] or the extreme high trading range is 1.0402.

The [R1] or the high trading range is 1.0349.

The [P] or pivot point is 1.0319.

The [S1] or the low trading range is 1.0266.

The [S2] or the extreme low trading range is 1.0236.

The [S3] or the most extreme low trading range is 1.0183.

Next Day Alternate Stops for Thursday Dec 31, 2009

The red line to the right on your chart is an extreme support or resistence level for the next trading day.

A good alternative stop is one which is placed just beyond this extreme support/resistance level.

In this particular case if the price drops below 1.0136 then that would show momentum against 4xGenie,s long position and that would be a break out to the downside.

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 upward momentum at this time.

Next Day Trading Session:

If the next day’s close is above 1.0296 then that could be a sign that new upward momentum is beginning.

4xGenie Support Team

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